Podcasts about historic tax credits

I'm a real estate developer and educator with over 30 years of experience, specializing in transforming overlooked urban spaces into vibrant, community-enhancing developments. My passion for real estate began early, growing up in a family deeply rooted in construction and development and spending weekends on the jobsites with my dad and school holidays in the office with my mom. I completed my first real estate deal at just 16 years old.Before diving fully into real estate, I spent several years at Accenture Technology Labs in Chicago, working in the Research and Innovation Department. There, I crafted strategic solutions for corporations, traveling globally to implement profitable strategies for clients. This experience honed my ability to align a company's mission with long-term financial growth—skills I now apply to real estate development by uncovering hidden opportunities and creating profitable projects.In 2004, we founded The Kim Group for our own real estate investments and expanded to work with clients. In 2015, we relaunched the company to incorporate our unique “Developer for Fee” model, designed to help business owners and individuals navigate the complexities of real estate development. This model empowers clients to be fully involved in every step of the development process—from acquisition to design and financial structuring—while I provide the expert guidance needed to ensure success. By 2021, we expanded into Austin and launched The Kim Group ATX, bringing my expertise in adaptive reuse, small-scale urban infill, and Public-Private Partnerships (P3).What sets me apart is my ability to see opportunities where others see obstacles. I've led major projects like the Trefzger's Bakery, Keller Station, and many others transforming neglected properties into thriving community hubs. My expertise in leveraging economic incentives— like TIFs, BDDs, SSA, Historic Tax Credits, and many others —ensures that even the most challenging projects become financially viable and successful. I am launching the Katie Kim Educational Platform to expand my mission of empowering individuals to achieve financial independence through real estate development. My platform provides the education and tools needed to confidently navigate real estate deals, build generational wealth, and make meaningful contributions to their communities.I'm passionate about solving complex development challenges and turning ideas into reality. Whether you're an aspiring developer or an experienced investor looking for new opportunities, I'm here to guide you every step of the way. Real Developers, Real ResultsChapters00:00 Introduction to Infill Development03:46 Market Trends and Passive Investment Strategies04:05 Katie Kim's Origin Story08:35 Understanding Developer for Fee Services13:03 Navigating Development Challenges17:16 Innovative Affordable Housing Strategies21:26 Exploring Affordable Housing Solutions23:40 Building a Supportive Community for Investors27:05 Navigating Development Challenges28:29 Katie Kim's Ongoing Projects and Vision30:18 Final Thoughts and Resources for Investors37:23 outro RANDY SMITHConnect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestorKeywordsinfill development, passive investing, real estate, developer fees, tax credits, affordable housing, community building, education, market insights, investment strategies

In a groundbreaking move, New York Governor Kathy Hochul signed a 2025 state budget that includes $90 million in tax credits for local news media outlets, marking a significant victory for the press and local journalism. The Empire State Local News Coalition, which helped champion this legislation, initially formed with 100 news publishers in February 2024 to work together and advocate for what was originally introduced as the New York State Local Journalism Sustainability Act. In just a few months, the coalition expanded to over 200 news outlets. Rebuild Local News, a nonpartisan, nonprofit organization that advances public policies to help local news and community journalism, posted a press release supporting the legislation, stating that this is “the largest sum that any state has devoted to help struggling community news organizations.” The new legislation offers $30 million in guaranteed tax credits for three years, with $13 million each year allocated for news organizations with fewer than 100 employees, $13 million for larger ones and $4 million to support new hires.   Caveats within the legislation include: No single newsroom can get more than $320,000 each year. The subsidy to newsrooms will be based on the number of employees. The refundable tax credit offered will be 50% of the salary of any employee up to a $50,000 wage. Publicly traded corporations are excluded. Zack Richner, a New York news publishing executive and the founder of the Empire State Local News Coalition, stated during this episode of E&P Reports, "The success of our coalition demonstrates the power of collaboration and advocacy in shaping policies that support local journalism and empower communities." Steven Waldman, CEO and founder of Rebuild Local News, who worked with the Empire State Local News Coalition to get this legislation passed, emphasized the importance of designing policies with safeguards to prevent potential infringements on journalistic independence. He stated, "We must ensure that any government involvement in funding journalism is accompanied by robust safeguards to preserve press freedom and integrity." Both Richner and Waldman stressed their hope that this legislation's impact will extend far beyond the borders of New York State. With initiatives underway in California and Illinois, the momentum generated by the Empire State's success aims to spark a nationwide movement.

Are you keen to discover the future of farming? Unveil the revolutionary world of vertical farming with our esteemed guest, Cody Journell, founder and CEO of Vegg, Inc. Cody, with his vast knowledge and innovative approach to Controlled Environment Agriculture (CEA), is pioneering a fresh perspective on how we perceive agriculture. This episode takes you on a thrilling journey into the heart of Vegg, Inc., where old school buildings transform into thriving vertical farms.Step inside the unique landscape of vertical farming as we discuss how Vegg, Inc. is changing the game with their comprehensive guidance on infrastructure development, leasing options, and revenue models. We delve into their budding relationships with regional feed hubs and how these alliances might revolutionize local farming. We also reflect on the GAP Summit and the challenges small and medium-sized farmers face. Hear directly from Cody as he offers a glimpse into his leadership journey and how he is preparing his team for an industry that is in perpetual motion.Lastly, we try to break down the intricacies of vertical farming for the everyday individual and understand the role it plays in preserving our farmlands. We evaluate how consumer habits need to change for vertical farming to be more widely accepted and discuss how the US could potentially halt the alarming loss of thousands of acres of farmland per day. Be inspired by the potential of Vegg, Inc.'s projects that aim to provide education and workforce development in rural areas. Tune in for an enlightening conversation that might just reshape your understanding of agriculture and its future.Thanks to Our SponsorsAgTech Marketing TeamVertifarm - Use code VFPODCAST23FarmAnywhereCEA Summit EastHorti Agri Next MEA Key Takeaways05:44 - Real Estate and Problem-Solving10:05 - Historic Tax Credits and Building Challenges15:36 - Scaling Vegg24:15 - Journey as CEO and Team Growth 29:05 - Vegg's Potential Locally and Nationally33:47 - Concept of Vertical Farming and Messaging38:53 - The Viability of Vertical Farming CareersTweetable Quotes"We're losing I think we're losing somewhere around 2,000 acres of farmland in the US per day to redevelopment. So that's 700 plus thousand a year that we're losing. Populations increasing, consumer preferences are changing. They want more food, which we have less land, and they want it grown in an environmentally friendly manner. So how are we going to solve that problem? In walks, vertical farming and CEA.""We had a family farm that was passed down through generations and generations and it's just it's not something that kids are growing up and doing now." "One of my favorite things about real estate is the fact that it is 100% what problems you can solve, whether you're successful or not. So whether it's even a transaction that you're helping someone out with, or it's a building that you're looking at to develop, or there's some zoning requirements that you have to work around, it's always a problem that's being solved and you know you solve big problems and you know big profits follow."Resources MentionedCody's Website - https://www.vegginc.com/ Cody's Linkedin -

Zach has over a decade of experience developing real estate throughout the Southeast.  Current and past projects include hotels, multi-family, mixed-use, and retail. As CEO, he sets the overall strategy for the firm and oversees all acquisition, development, and financing efforts. Kupperman Companies designs, develops, and acquires hotels, retail, multi-family, and mixed-use projects in Louisiana, Texas, Georgia, Alabama, Colorado, and across the Gulf Coast. They invest in award-winning historic redevelopments that preserve the history, architecture, and culture of the surrounding community. Kupperman currently owns and manages over 520,000 square feet of hospitality, retail, and mixed-use assets and over 100 acres and 500 pads of manufactured housing communities through their affiliate, Lucky Communities. On this episode, Jake and Zach discuss: Transitioning from law into Real Estate Historic Tax Credit deals The impact of New Orleans' transformation since Katrina Acquiring one of the most coveted pieces of Real Estate in Aspen, CO Building partnerships with hospitality operators Links: Kupperman Companies Zach on LinkedIn The Little Nell in Aspen The Chloe, New Orleans Hotel Saint Vincent, New Orleans Hotel Peter & Paul, New Orleans   Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill   Topics: (2:27) - Zach's transition into real estate (7:12) - How do Historic Tax Credit deals work? (10:04) - How did placemaking become a bigger part of your strategy? (11:30) - How has New Orleans changed since Katrina? (14:08) - What else does the city need to do from a RE perspective? (14:52) - What led you to add hospitality to your portfolio? (17:57) - Do memberships offset some of the costs that you lose with smaller door counts? (19:37) - With The Drifter & Hotel St. Vincent, what was your intention in setting the vibe? (24:16) - How do you structure your deals? (26:02)  - Where are your investors located? (26:24) - What did your debt and equity structure look like for the Saint Vincent Hotel? (32:36) - What did the business plan for the hotel end up being? (39:55) - What aspects of a historic tax credit deal would give you hesitation before jumping in on one? (41:02) - Do you manage Hotel St. Vincent? (42:03) - What have you learned about hotel ops? (43:42) - What are you focusing on now when thinking about new deals? (45:01) - Do your investors ever express concern about diversifying your portfolio? (46:39) - Are there any big opportunities that have you excited right now? (47:46) - How does a guy from NOL get one of the most coveted pieces of RE in Aspen, CO? (54:43) - How important is integrating F&B into the hotel experience today? (56:20) - How are the independent hotels in your portfolio competing against the market? (1:01:08) - Converting Hotels into MF (1:09:59) - How do you run Kupperman and how have you utilized that strategy to grow the firm? (1:13:44) - What does a typical week look like for you? (1:15:41) - How did you train your offshored underwriter? (1:20:13) - What is your favorite hotel?

Patrick Donley chats with John Blatchford, who is the founder of Kunst, which is a developer of properties built in the 1800s. He shares his thoughts about how he got started in the preservation of historic buildings and the advantages of using historic tax credits to improve his returns.IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro11:50 - Why he decided to leave his W-2 job to pursue real estate full-time.15:37 - How he learned about the advantages of historic tax credits.25:00 - What the business model is for his company, Kunst.36:45 - What the process is like for applying for historic tax credits.39:14 - How John got his start in historic buildings by purchasing a $5000 building in Cincinnati.45:00 - What his tech stack looks like to operate his business.45:00 - Where and how he raised the initial capital to fund his projects.49:28 - What his best advice would be for someone interested in real estate development.56:32 - How his love of pickleball developed. And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCESRobert's book The Everything Guide to House Hacking.How to Win Friends and Influence People by Dale Carnegie.War of the Worlds by H.G. Wells.Richer, Wiser, Happier by William Green.Related episode: Listen to REI155: Building a Boutique Property Empire w/ Moses Kagan, or watch the video.Related episode: Listen to REI159: From Receptionist to Urban Infill Developer w/ Sean Sweeney, or watch the video.Related episode: Listen to REI164: Intelligent Design w/ Bobby Fijan, or watch the video. NEW TO THE SHOW?Check out our Real Estate 101 Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Keep up with the latest news and strategies on real estate investing with the best real estate podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Let an expert do your taxes from start to finish so you can relax with TurboTax.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Universal life insurance can offer protection and long-term tax-advantaged savings for your future goals & milestones. Get a universal life policy today through a simple, easy, and 100% digital purchase journey with Everly.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Support our free podcast by supporting our sponsors.Connect with Patrick (@jpatrickdonley): TwitterConnect with John: Twitter | LinkedIn | WebsiteSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

If you're an aspiring real estate developer, you don't want to miss this episode with Bob Voelker! He joins us to share his extensive background in the business and why an in-depth understanding of this aspect is crucial for young people. So listen in as his expertise will surely shift our minds to another way of making great returns and strategies to keep firm in this field regardless of the market condition.Key Takeaways To Listen ForReal estate development: Its difference from buying existing properties, profitability, returns, and risksChallenges of real estate development and how to manage themThe critical role of an equity partner in a development businessRising interest rate and its impact on different asset classesBenefits of the book ‘Managing the Complexities of Real Estate Development' for young aspiring developersThe importance of learning how to manage risks as a developerResources Mentioned In This EpisodeManaging the Complexities of Real Estate Development by Bob Voelker | Paperback | Kindle | HardcoverFree Apartment Syndication Due Diligence Checklist for Passive Investor About Bob VoelkerBob Voelker is an experienced CPA, tax lawyer, real estate lawyer, and multifamily developer, (EB-5, New Market Tax Credits, Affordable Housing Tax Credits, Historic Tax Credits, Tax-Exempt Bonds, Tax Increment Financing, and Property Tax Exempt Leases). with knowledge of institutional lending and equity in real estate, high-rise residential buildings, the development of affordable housing, challenging urban mixed-use development projects, and innovative financing options.Bob has been a part of StreetLights' Senior Management Team for the past five years. He has experience in high-rise and mixed-use development projects, including site analysis, financial feasibility, due diligence analysis, and financing through completion, lease-up/stabilization, and recapitalization or sale. He also has experience in company strategy and culture.Connect with Bob VoelkerLinkedIn: Bob VoelkerTo Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams.

If you're interested in rehabilitating and repurposing historic properties, then this episode is for you.   Kyle Southard started his investing journey by buying a single-family home in Colorado Springs with zero down and no money out of pocket using VA loans. He also purchases and renovates historic buildings in downtown Shreveport, Louisiana and is utilizing historic tax credits. Tune in as Kyle dives deep into federal and state historic tax credits and how these tax incentives can make a difference in your deals.     [00:01 - 04:12] Military Homeownership and Real Estate Investing Becoming a real estate investor and developer How he was able to benefit from VA loans    [04:13 - 10:07] Bringing New Life to Communities Kyle breaks down their development project in downtown Shreveport The uptick of new residents moving into downtown Shreveport, especially millennials Revitalizing abandoned buildings and properties Finding a gap in the market for short-term rentals   [13:42 - 22:13] Understanding Historic Tax Credits Historic tax credits incentivize people developing a historic buildings You have to own the building for a period of five years in order to get the full benefit of historic tax credits Federal and state tax credits You don't get the incentives until the completion of work Kyle explains their deal structure with investors   [22:14 - 23:48] Closing Segment Reach out to Kyle!  Read his book: Military Homeownership and Real Estate Investing Links Below Final Words Tweetable Quotes   “It's incredibly risky, but we think with great risk comes great reward.” - Kyle Southard “There's a lot of wealth in the world and people want to utilize their wealth wisely, and we can help them do that.” - Kyle Southard -----------------------------------------------------------------------------   Connect with Kyle! Follow him on LinkedIn and contact him directly at 318-900-1070. Head over to the Barksdale Real Estate website as well. . Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below:   [00:00:00] Kyle Southard: So a historic tax credit is basically a dollar-for-dollar trade-off to incentivize people to develop. And so the way this works is I acquired this building for $160,000, totally vacant. $160,000 acquisition. None of that acquisition cost goes towards historic tax credits at all. So if I pour $1.5 million into the building through construction costs and soft costs, hard costs, et cetera, to develop the building. Not all of that is going to go into the bucket of money that we can call historic tax credit eligible. And so that bucket of money is called a qualified rehabilitation expenditure.  [00:00:52] Sam Wilson: Kyle Southard is an investor. He's a developer as well as a real estate agent licensed in Louisiana. He left the military a year ago to pursue real estate full-time and hasn't looked back, Kyle, welcome to the show. [00:01:03] Kyle Southard: Thank you. It's good to be here, Sam.  [00:01:05] Sam Wilson: Hey, man. Pleasure is mine. Yhree questions. I ask everyone who comes into the show" in 90 seconds or less, where did you start? Where are you now? And how did you get there?  [00:01:13] Kyle Southard: All right, well, I started out as a military guy. I went to the air force academy four years, spent the following nine years on active duty I was in Turkey, Louisiana, Indiana, and Colorado, and somewhere around the Indiana Colorado range. I got interested in real estate, investing through a book called Rich Dad Poor Dad. And that changed my world paradigm. I realized that if I wanted to have a life of freedom, then I needed to get some passive income going. [00:01:38] Kyle Southard: And I thought real estate was the best way to do that. So I looked into how do I buy a house first and foremost? And I knew that I had a bit of a VA eligibility to tap into for VA loans. So I bought my first house in Colorado Springs, Colorado with zero money down. And I'm sure a lot of our viewers and listeners will know that Colorado Springs has become a really hot market. [00:02:00] Kyle Southard: So I was right place, right time refinanced my first ever single-family home that I bought I bought a second single-family home, lived in that for a year, sold that home a year and a half later for $130,000 profit. And then bought another bigger home in Colorado Springs and then some stuff here in Shreveport, Louisiana as well. [00:02:19] Kyle Southard: And because of that, I was able to get some passive income through Airbnb and long-term rentals as well. And it allowed me some financial freedom to take some risks in life. So I left the military. And started investing in real estate full-time and I'm developing as well. So I've got a development in downtown Shreveport right now that's using historic tax credits. [00:02:39] Kyle Southard: And that is a really exciting frontier that I'm learning a lot about every single day. And I'm just amazed at how wonderful real estate can be when I really let go. And let God take over for me and really help some of this stuff take shape.  [00:02:54] Sam Wilson: That's cool, man. I love that. Let's talk I guess, you know, on a VA loan side of things, what's the limit of VA loans you can have active at a time.  [00:03:04] Kyle Southard: That's a really good question. And it's going to depend from person to person. But what I have found for myself is that I was able to have one active VA loan in Colorado Springs. And because there was still some availability left in my VA loan limits, I was able to then finance a second property using a VA loan. [00:03:23] Kyle Southard: However, I couldn't just do another $0 down again, because for me, I only had about $120,000 to work with in terms of VA loan eligibility. And so I had to make up the difference and there's a ratio to make up there as well. So I bought a second home for $270,000 and it had to come out of pocket about $30,000, but it was still a really good rate and a really good situation because it's pretty close to 20% down anyway.  [00:03:49] Sam Wilson: Right, right. Yeah. Do you guys or do you still have your rental portfolio or have you sold that off?  [00:03:55] Kyle Southard: So we still have a rental portfolio in Colorado Springs. We sold one of those houses because the getting was just too good not to. But with the proceeds of that, we use this section 1031 exchange to trade up to a bigger property and that produces a little bit more cash flow per month. And we hope that this one should appreciate quickly as well.  [00:04:12] Sam Wilson: Right. That's cool. All right. Let's talk about the historic tax credits project you're doing right now. You said it's a development project. Is that a redevelopment? What is this project? Give us the skinny on the whole, the whole project and how you discovered historic tax credits and how you're using them. [00:04:30] Kyle Southard: All right. Well, downtown Shreveport is relatively vacant compared to your average mid-sized cities downtown. And what I mean by that is there are several buildings, probably more buildings are boarded up than are active in commerce. And so we were looking around, I was looking around with some friends of mine at some possible properties to acquire and rent. [00:04:52] Kyle Southard: And one property that came to mind was this shoe store on the bottom that had been vacant since 2002, but it used to be a shoe store. And then on the top, it used to be a hotel apparently, but it had not been used as a hotel since the 1930s. And so a lot of the original features are still on that hotel all the way down to the wainscoting pink color, et cetera. [00:05:13] Kyle Southard: And this particular building is called the Sanger Drug Building because it was built in 1900 by the Sanger brothers who went on to build Sanger Entertainment Industry who then sold out to Paramount for a good sum of money. So it's a good bit of history in this building and in researching what we could do with the building, I just learned about historic tax credits and I have a friend of mine, who was a gym partner, turned into a business partner and we researched together the benefits of historic tax credits and how we can get creative financing done and, and bring in investors in syndicated deal to everyone's benefit.  [00:05:49] Sam Wilson: Right. That is really interesting. Let's find out first. Why is half of Shreveport not, I mean, why are the buildings all boarded up?  [00:05:58] Kyle Southard: It's a great question. I mean, I know that, you know, Shreveport has had about a 1% per year decline in population over the past 10, 20 years. And that's just due to economic situations that have, you know, bigger picture macro take on, on the world than I could possibly imagine right now. [00:06:16] Kyle Southard: But as a result of that, you know, a lot of folks are moving to south Shreveport or moving across the river to Bossier City. Or they're just choosing not to live in downtown Shreveport anymore. And because of the lack of downtown residents, there's a lack of downtown commerce as well. But what we've noticed in the past five to eight years is that there is new influx of residents moving into downtown Shreveport. And because of that, there's a slight influx now of commerce going in there too. And so we've got the military installation across the river here called Barksdale Air Force Base. And I know when I first moved here to Barksdale Air Force Base, I was looking for a place to live in downtown Shreveport. [00:06:53] Kyle Southard: At that time, there weren't many places, but now you're seeing lots of mom and pop investors like myself and developers turning formerly abandoned buildings into something really cool and a place where people can live and thrive.  [00:07:05] Sam Wilson: And that was gonna be my next question is, is if you can define why half of the buildings are boarded up, what gives you the courage to move forward on this product and say,, Hey, this is, this is a viable asset?  [00:07:16] Kyle Southard: Great question. And I'm glad you asked it because I have to plug my community here. Shreveport, Louisiana has such a tight network of people, whether they're developers, artists, business people, investors who hang out together. And there's a recent development that was made here by guy named Jim Malsch. [00:07:34] Kyle Southard: And he converted an old parking garage into the Artist & Entrepreneur Center. And that's become kind of the hub of innovation. And there's been a big uptick in millennials moving to Shreveport and kind of centering around downtown Shreveport, just because it's a cool, funky place to hang out with a lot of history. [00:07:52] Kyle Southard: And so, because of that, I think we're all banding together at this point and kind of moving the needle slightly day by day together as a, as a community. And so I always joke, like if an investor wanted to come in and buy a downtown Shreveport, they could probably do it for, you know, 20 million bucks and get a vast majority of this, but that hasn't happened in Shreveport. [00:08:12] Kyle Southard: And I think it's a good thing. There's a lot of people taking stake in downtown Shreveport. And because of that, there's a lot of buy-in and momentum.  [00:08:19] Sam Wilson: Yeah. That's really cool. I love that. So what is the project going to become? You told us a little bit about what it was and the history of it. What are you turning it into?  [00:08:27] Kyle Southard: All right. It's a four-story building and I say four stories because there's a ground floor, a mezzanine level, and then two stories above that. So the ground floor and mezzanine level will be a blank canvas kind of build to suit commercial, lease space. We're advertising right now, looking for tenants to move in there, either as a restaurant bar or just anything that would work well for the community and work well for the investors and the tenants as well. [00:08:52] Kyle Southard: The top two floors will be short-term rentals. And so across what used to be 22 total hotel rooms, we will be making seven short-term rental units with kitchens, bathrooms, et cetera. There'll be a two bed, two bath, three one bed, one baths and then three studio apartments in there. And so the reason we chose to short-term rentals for this is that right now we've got a couple of hotels in downtown Shreveport. [00:09:18] Kyle Southard: Then we've got maybe one or two short-term rentals in downtown Shreveport. But other than that, it's all long-term. And we think that there could be a good gap in the market for short-term rentals.  [00:09:27] Sam Wilson: Yeah. No, that sounds awesome. How much of what your business plan is, was defined by the historic tax credit? [00:09:35] Kyle Southard: Hmm, that's a good question. So I think I would say this project would not be done without historic tax credits. I can say that's probably the case for a lot of my friends who are investing as well, the historic tax credits really incentivize people developing historic buildings. And so I don't think we would be brave enough to take this on without that. [00:09:55] Sam Wilson: Right, but I guess, I guess let's see if I can clarify the question. Does the historic tax credit, so, you know, you're doing, you know, the bottom two floors meds or the bottom two floors built to suit, and then you're turning the, the other remaining units into shorter remaining rooms into short term rentals. [00:10:11] Sam Wilson: Was any of the decision to what this ultimately becomes based upon, was it, was it any of it driven by the historic tax credits saying, Hey, if you're gonna do this, you're gonna get the tax credits. You're going to have to put an X, Y, and Z was any of that in.  [00:10:24] Kyle Southard: Yes. Yes, it was. So because the historic tax credits are meant to incentivize development that ultimately stayed in the federal government, one, they do have some stipulations on what you're allowed to do. And so we're not allowed to turn it into something with the sex industry or something like that, right? There are all kinds of stipulations on what you can and cannot do there. And I mean, ultimately what it comes down to as the developer and investors, that when you use historic tax credits, you have to own the building for a period of five years in order to get the full benefit. [00:10:57] Kyle Southard: And so we were apprehensive about doing something that was not going to work long-term. And so, because of that, we know, my business partner and I know residential, we know a little bit of commercial real estate, but that's about where our imagination ends right now. And so since we were going to be married to this project for five years, we figured we'd do something that we thought was A, going to work, but B, be something we understand and would enjoy. [00:11:23] Sam Wilson: Right, right. No, that's a, that is really cool. Yeah. I guess that, that, that's something I hadn't really thought about was up until this point. Everything you've done has been, has been in the residential side. This is your first foray into commercial real estate. And it kind of sounds, I mean, this is, it's a pretty it's a pretty, not audacious is the wrong word is courageous was probably the more word I'm looking for. [00:11:46] Sam Wilson: Okay, cool. We're going to take 122-year-old building and we're going to put it in short-term rentals and do a build to suit and like. There's a lot of moving parts and do hit the housing tax credits. I want to hear before, you know, one of the, I got some uh, one question on build a suit before we get to that. [00:12:00] Sam Wilson: Tell me, can you just break down the 62nd soundbite version of this is how a historic tax credit actually works.  [00:12:08] Kyle Southard: Yes. So a historic credit is basically a dollar-for-dollar trade-off to incentivize people to develop. And so the way this works is I acquired this building for $160,000. Totally vacant, $160,000 acquisition. [00:12:22] Kyle Southard: None of that acquisition costs goes towards historic tax credits at all. So if I pour $1.5 million into the building through construction costs and soft costs, hard costs, et cetera, to develop the building, not all of that is going to go into the bucket of money that we can call historic tax credit eligible. [00:12:45] Kyle Southard: And so that bucket of money is called a qualified rehabilitation expenditure. And so a qualified rehabilitation expenditure's for things like mechanical electrical, fire safety plumbing, major fixtures, but it does not include appliances cabinets, certain things that could be considered, you know, manipulative or, or subjective when it comes to cost. [00:13:07] Kyle Southard: And so, because of this, when we look at our numbers, we have a $160,000 acquisition costs, a $1.7 million renovation costs and of that $1.7 million, about $1.5 to $2 million are going to be qualified rehabilitation expenditures. What you do with that $1.5 million is you break it up into, 20% of that is eligible for state historic tax credits. And 20% of that amount is eligible for federal historic tax credits.  [00:13:41] Sam Wilson: Is my number right, that's roughly $300,000?  [00:13:45] Kyle Southard: That's right, exactly.  [00:13:46] Sam Wilson: On both sides?  [00:13:47] Kyle Southard: On both sides. And so the trick here is that, one, it's not automatic, but it's pretty close if you do your, do your steps right. And what I mean by that is you have to get this renovation plan approved by the state level and for Louisiana, it's the state historic preservation office down in Baton Rouge. [00:14:04] Kyle Southard: And then it has to get approved at the federal level, which is the National Park Services in DC. And that's about a two-month process at the state level and a two-month process at the federal level, they look at our plans. They make sure that we're not changing the building's historic integrity, things like that. [00:14:21] Kyle Southard: But once that gets approved, you're clear to start work. And when you start work, you basically have to finish it, right? And so what I mean by that is you don't get any of the tax credits until you've finished the work. But once you finish the work you get the state tax credits issued to you. And then the federal tax credits get issued at, let's see it's 20% per year for five years. [00:14:48] Kyle Southard: So if there's a hundred percent of your federal historic tax credits, which in this example would be $300,000. You're getting paid out one fifth of that every year for five years. And so that is essentially a tax liability offset. I personally do not have $60,000 worth of federal tax liability every year. [00:15:10] Kyle Southard: And so because of that, we have to bring in investor, an investor or multiple investors who do have that tax liability problem to solve. And so what we have done is we have syndicated the deal to where we bring in third party investor who has a tax problem to solve has too much federal tax liability, invest a certain amount of money with us, and we issue him or them the tax credits. [00:15:32] Kyle Southard: And so, that's a nice deal because our ask in our project is $300,000 capital contribution, give or take, I mean, there's room for negotiation always, but the nice thing is that that person is going to get paid out a lot of about the same amount of money in federal historic tax credits over five years. [00:15:48] Kyle Southard: So they almost can't lose. And so that's really nice. There's a lot of nuances to this too, but I hope that it's just like a broad stroke overview of historic tax credits.  [00:15:57] Sam Wilson: No, that's really good. That's actually super helpful. Does that $304,000? Yeah. Cause it goes, you get $304,000 on both sides of the, of the equation at the state level. Does that come in over five years as well?  [00:16:10] Kyle Southard: That is not over five years. You know, that's basically, once it gets issued, you can use that. And there's an, there's a rule where you can go back a year to offset some of last, the previous year's tax liability at the state level, you can use the current and I think you can carry it forward. [00:16:25] Kyle Southard: I would consult a lawyer cause that's what I have to do on all this, but what we have opted to do, I'm glad you asked that question. One cool thing about this is the state historic tax credits are transferrable. What I mean is you can sell these state historic tax credits to people who compete for them. [00:16:42] Kyle Southard: What we've found is there's a firm who we found a firm in new Orleans who wants to purchase our state historic tax credits, call it $300,000 for 87 cents on the dollar. So they're effectively saving 13% in their taxes for that.  [00:17:00] Sam Wilson: Right. Are they gonna, are they gonna, they're going to buy it from you 'cause it's a firm that's going to be the end user or are they going to turn around and then resell those to somebody else? So they just do an arbitrage on it.  [00:17:11] Kyle Southard: That's a question I have not asked. I think it could go either way. And with this particular firm, I, I'm not exactly sure. I just know they're going to pay us, you know, at loan closing, they're going to pay us the, the capital that's required to purchase the state historic tax credits from us. [00:17:26] Kyle Southard: And so again, we're getting deeper in the weeds. I want to point out we are going to be able to use some of this capital from the state historic tax credit investors. So to speak this from at, in new Orleans that I mentioned, we're going to be able to use like a quarter million dollars of that for our down payment on our construction loan, through a bridge loan. [00:17:44] Kyle Southard: So it's just wild, how good of a deal this can be if we have the right players. And of course you have to have a great lender, a great, flexible, you know, loan officer to work with you on all this.  [00:17:54] Sam Wilson: Right. Somebody that understands what it is you're doing and, and the, and the lineup of these different pieces, because it would be, yeah, that's really, really cool because yeah, because, but you have to have the work done. Let me get this right. You have to have the work done in order to get the state historic tax credit.  [00:18:12] Kyle Southard: It's exactly right.  [00:18:13] Sam Wilson: So how do you time that out?  [00:18:16] Kyle Southard: How to, yeah, so everyone's taken a lot of risk on it. And so that's why we have to re build a really strong team that makes everyone really confident about it. So like you mentioned, if we get a quarter million dollars from the sale of our state historic tax credits, before we are issued our state historic tax credits, and we do not finish this construction project, we owe, I now owe $250,000 to someone and probably a lot more than that. And so because of that, we have, you know, we purchased this building back in June of last year. So it's been close to a year now that we've been working on really making sure that this is fully vetted on every aspect so that somebody well, so that everyone on board can be very comfortable moving forward. And that includes me. And so, you know, at the end of the day, I'm the one signing the personal guarantee. And so as my business partner in this, and yeah, it's, it's incredibly risky, but we think with great risk comes great reward. So I hope to have a good news story for you in about a year or two.  [00:19:11] Sam Wilson: Yeah, absolutely. And again, just to understand this completely, you have to hold this for five years.  [00:19:17] Kyle Southard: Right. [00:19:17] Sam Wilson: Right, right. Sell it off or do something else with it 'cause you you're going to need your, and I'm sorry to get into the weeds on this thing. That's really interesting that the nuance here I think is really valuable. [00:19:28] Sam Wilson: And so in order for your syndication, LPs, limited partners in this indication to be able to capture that tax credit, you're going to have to lease, hold it for five years, so, okay.  [00:19:39] Kyle Southard: That's right. That's exactly right. So they will be in the project for five years as well. And so that's a, you know, it's a big deal, but I think, you know, a lot of people have tax problems in this world. And that's what I've learned through talking with guys, like you listen to your podcasts, going to different conferences. And, you know, I was talking with an investor the other day from Indianapolis and he said, how much is your ask? What's the raise on that project downtown? And I told them it's around $300,000. [00:20:04] Kyle Southard: And he just laughed because he hears numbers that are 10 times that every single day, a hundred times that every day. So for us in Shreveport, you know, it's, and for me as a brand new investor, 300 grand is it's going to be hard to find, but I'm learning that there's a lot of there's a lot of wealth in the world and people want to utilize their wealth wisely and, and we can help them do that. [00:20:24] Sam Wilson: So, let me get this right. So somebody puts in 300 grand, they get 60 grand back a year. Is that treated? Is that tax credit per the way you underwrote this? And I go, and I'm getting really in the weeds here, but I think this is, there's a lot to learn from you on this. Is that treated as a return of capital or return on capital? [00:20:42] Kyle Southard: Hmm. Well, that's a great question too. I think, for an accounting principle, I'm not sure what that would be classified as, and I'll tell you this though. It's basically just offsetting their tax liability. So it's by no means as good as cash, but it is something to where there can be, I don't know if we want to be, and this is not an accounting term for give me phantom income, right? I mean, you were going to have to pay $60,000 this year to the federal government. You don't have to anymore, you can go buy a truck and so, or whatever. It is to me, I feel like it's, it's a great way to save money if nothing else. [00:21:17] Sam Wilson: Well, for sure, for sure. No, it's interesting because, and then that would be the, the question, do they retain their position in the deal?  [00:21:25] Kyle Southard: Yes. Yes. And you know, the way we have structured that we can structure it any way we want, the way we have structured this is that we're aiming to do a five-year flip. [00:21:34] Kyle Southard: And so the goal here is, you know, when someone signs in and they, they give us $300,000, they give the company $300,000. They own 99% of the company because that way they get 99% of the federal historic tax credits. That gets paid out over five years. At the five-year point, it can flip to where now we own say 75 or 80% or whatever of the company. They own 20-25%. And so they still get to participate in the profits and losses for those five years, but then they also get to participate in the exit of the sale, whether it's at the five-year mark or at the 10-year mark or, or somewhere in between.  [00:22:13] Sam Wilson: Right. That's really cool. Kyle. I love it. Thanks for taking the time to break down your thoughts behind the historic tax credit, the nuance of it. We don't talk about that very often on this show. So that's, it's always fun to kind of learn some of those, those more unique, unique sides of that. Man, loads of fun. Sorry for going so deep with you there, but here's the final question for you. If our listeners want to get in touch with you or learn more about you, what is the best way to that? [00:22:39] Kyle Southard: All right. So I recently started this endeavor. It's trying to talk more about military real estate investing and military homeownership using VA loans, wrote a book called Military Homeownership and Real Estate Investing. You could probably just check me out either on LinkedIn or at the book's website, which is barksdalerealestate.com. [00:22:57] Kyle Southard: It's Barksdale like B-A-R-K-S-D-A-L-E realestate.com. Also check me out on LinkedIn, Kyle Southard. And you can even hit me up on my cell. It's 3 1 8 9 0 0 1 0 7 0. I love talking about real estate. So I look forward to talking  [00:23:14] Sam Wilson: Kyle. Thank you, man. I appreciate it. Y'all we'll make sure we plug all that there in the show notes. You have a great rest of your day. Thanks for coming on the show.  [00:23:22] Kyle Southard: Thank you, Sam. Take care. 

Can opportunity zones be leveraged for historic renovation projects? How does the combination of historic tax credits and the opportunity zone incentive improve investment returns? John Blatchford is Owner and Founder of Kunst, a real estate company that buys and renovates vacant historic buildings in Cincinnati, Ohio. Transcript and show notes at OpportunityDb.com

This week on the Strategic Financial Leadership podcast, Steve had a opportunity to speak with two special guests, Stan Bullis and Jonathan Wield from Unbridled. Stan Bullis is the Founding Partner of the Unbridled Companies, an expanding group of 22 businesses with combined total sales exceeding $100 million. Five businesses form Unbridled, a full-service live events agency headquartered in Denver. The others include: Wealth Management, Contact Center, Co-Working/Incubation, Construction, Real Estate/Historic Preservation, Custom Furniture and a Non-Profit. Stan's driving passion is to “restore people and places”. Stan is accompanied in this episode by Jonathan Wield, VP and Partner. Originally from England, Jonathan Wield has called various US states home since 2008 after finally settling down in beautiful Denver, Colorado. With a non-traditional entrance to the world of finance, Jonathan soon became the go-to expert for many of his colleagues and friends faced with a big financial decisions. Through trust and reputation, Jonathan excelled as a business finance expert specializing in Historic Real Estate transactions and lending a hand in starting more than fifteen businesses. From purchasing a failing music school and helping it cashflow in under a year to discovering and successfully receiving almost $1M in Historic Tax Credits for a Real Estate project in Denver. Jonathan is also currently a partner in six businesses, Managing Partner of Unbridled Wealth and leads the Finance Team for UpperRoom Denver.Learn more about the Strategic Financial Leadership podcast: https://www.strategicfinancialleadership.com/podcast

The Historic Tax Credit has become the most significant achievement in the preservation of historic buildings. It is important for someone to have the knowledge of utilizing it, and its qualifications and processes. Knowing its restrictions is also significant to reduce risk and increase returns especially for multifamily apartments . In this episode, Aileen's guest John Blatchford shares how Historic Tax Credit works in real estate and how investors benefit from it.What You'll Learn From This Episode: Learning How Historic Tax Credit WorksFinding Available Historic Tax CreditsProcesses in Applying for Historic Tax CreditKnowing When the Application Process is ApprovedRestrictions Based on the Type of Historical Building ApplicationLearning the Benefits of Historic Tax Credits for InvestorsTools and Techniques Used to Improve the Efficiency in Real Estate BusinessGuest Bio:John Blatchford is the founder of Kunst, a real estate developer and syndicator in Cincinnati, Ohio. Since 2013, Kunst has syndicated 12 multifamily projects, with 95 total apartments completed or under construction. Kunst has used more than $7 million in historic tax credits to reduce risk and increase returns, even in an economic downturn.Website: https://kunst.usEmail: john@kunst.usTo Connect With Us:Please visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!Sponsor:Thinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams

The act of combining (or “twinning”) tax credits, such as the low-income housing tax credit (LIHTC) and historic tax credit (HTC), can offer developers an opportunity to bridge a funding gap and improve the rates of return on transactions for investors. This episode explains the benefits a twinned structure in an affordable housing development and the key differences in pricing, structures, debt execution and cash flow to help you decide if twinning LIHTC and HTC is the right move for your next transaction.

placemakingpodcast@gmail.com Facebook-f Twitter Linkedin Instagram Hello and welcome to another episode of the Placemaking Podcast!I am excited to share this next conversation with all of you. Dak is the Founder and President of Hatfield Advisors here in Fort Worth, Texas. Since forming Hatfield Advisors in late 2005, he has successfully developed, redeveloped, and repositioned properties all over the United States. He has over 20 years of professional experience in not only real estate investment, but property development and large-scale project management. He has been regarded as one of the most innovative and resourceful developers in the CRE industry by combining his deep technical expertise with a creative approach to maximizing value for his clients.The firm he works with, Hatfield Advisors, is a commercial real estate brokerage, development, and investment company. The company has development projects and investments throughout the US and specializes in locating opportunities, comprising strategic development plans & structures, analyzing projects, and management throughout all stages of the development process.In this episode, we are going to discuss how Dak got started in real estate development, certain hurdles he faced when developing his first property, his experience in working with historic tax credits in Fort Worth's Near Southside district, and tons of practical advice that he would give others that are looking to get into real estate development.As always, if you have enjoyed the show, please subscribe to the show and share with your friends. There will be more exciting conversations on the show to come.So without further ado, let's start the show!Resources:Hatfield Advisors Website: https://hatfieldadvisors.com/ This podcast is brought to you by Audible! I have used Audible for many years now. I love it. Audible hands-down, has the largest selection of audiobooks in the world! I listen when I'm taking I'm riding to work, I listen while I'm running, basically… I listen whenever I can. Audible is offering The Placemaking Podcast listeners a two-free audiobooks with a 30-day trial membership. Just go to Audible.com and browse the amazing selection of audio programs. Then, when you've found a couple books you like, download your free titles and start listening! It's extremely easy. Simply go to Audible.com

With $7 million in historic tax credits received, 95 apartment units, and $9 million in syndicated assets and value, John Blatchford is someone who is using state tax incentives right! John is the founder of Kunst, a real estate developer and syndicator in Cincinnati, Ohio. Since 2013, Kunst has syndicated 12 multifamily projects, with 95 total apartments completed or under construction. Kunst has used more than $7 million in historic tax credits to reduce risk and increase returns, even in an economic downturn. John believes in historic preservation, good design, and treating tenants as customers or members.Want to be a guest on the show?Are you interested in being a guest on The Real Estate Syndication Show? If you feel that you could add value to those in the commercial real estate business, we would love to host you. Go to our website, lifebridgecapital.com, to apply to be a podcast guest today.

BE SURE TO SEE THE SHOWNOTES AND LISTEN TO THIS EPISODE HERE. Eve Picker: [00:00:13] Hi there, thanks so much for joining me today for the latest episode of Impact Real Estate Investing.   Eve: [00:00:19] My guest today is Thibault (Tee-bo) Manekin, the founder and CEO of Seawall Development. Seawall is rolling out the red carpet for teachers. They are building high quality, affordable housing, which in itself is a big task. Layer that with the inclusionary design process they employ and the fact that they are creating this housing by restoring large and stunning vacant buildings and seawall is altogether fantastic.   Eve: [00:00:55] Be sure to go to evepicker.com to find out more about Thibault on the show notes page for this episode. And be sure to sign up for my newsletter so you can access information about impact real estate investing and get the latest news about the exciting projects on my crowdfunding platform, Small change.   Eve: [00:01:15] Hi Thibault, I'm really excited to talk to you today.   Thibault Manekin: [00:01:20] Hi Eve, I'm excited to talk to you, too. Thank you for having us.   Eve: [00:01:23] It's a pleasure. So, you started your company by building quality, affordable housing for teachers, and that's a really targeted mission and I'm wondering what led you to this work?   Thibault : [00:01:36] Yes, I probably have to go back a little further than that. When I first graduated from college at around 21 years old, I helped, with two buddies, we started an international non-profit organization called Playing for Peace. It's called PeacePlayers Today. And the idea is that we would go to war-torn countries and we would use sports to get kids from two sides of a conflict, meet each other, finding common ground and eventually becoming friends. So, we raised about eight thousand dollars and was enough to get on a plane to Durban, South Africa, at the time, where we were going to try to get, use sports to get black kids and white kids post-apartheid meeting each other, finding common ground, becoming friends. And it had an amazing run with that organization, really grew it to be quite international. We had a program in Northern Ireland with Protestant and the Catholic kids, Cypress, the Middle East, with Israeli and Palestinian kids.   Thibault : [00:02:36] So in all of my travels with PeacePlayers, one of the reoccurring things that I continued to notice was that real estate had done more to tear us apart than bring us together, especially with my experience in South Africa, seeing what the apartheid government had done with townships and informal settlements. And then, as I would make trips back to my home city of Baltimore, seeing the negative effects of redlining. So I came back, I think it was around 2006 and I asked my dad, who's a hero of mine, to go out to dinner and I pitched this idea of starting a company, a real estate company, but with the idea of really reimagining the real estate industry all together so that everything that we did used buildings and the built environment to empower communities, unite our cities and help to launch really powerful ideas. You know, I had seen the impact of reimagining the sports industry to bring people together, especially young people, and I wanted to do more with it. And if real estate was indeed the most powerful connected industry on the planet, then truly reimagined, there'd be the opportunity to bring people together in ways that possibly hadn't been done before.   Thibault : [00:03:53] So, we launched this company. And, you know, we had an amazing dinner conversation around what we were going to focus on first. And my dad did spend a long time in real estate but was really passionate around education. And he had done a ton of listening to all of these new teachers and first year teachers that were showing up to Baltimore, maybe for the first time, and were having a really tough time figuring out the city. Figuring out where to live, figuring out who to live with, figuring out their classes and jumping into arguably what's the hardest profession on the planet, educating the future generation. He basically was like, there's a great opportunity to continue to listen to this community of educators and provide them what they're asking for, which at the time was collaborative, affordable, well located, funky housing that would take the mystery for them out of where to live, provide them the ability to live some place special with like-minded people, which hopefully, over time, would translate to them agreeing to stay in the classroom for longer, falling in love with education, falling in love with our city of Baltimore, and maybe even making a permanent investment in buying their own home once they had a better lay of the land and been able to save some money as a result of staying in one of our projects.   Eve: [00:05:20] So, basically really supporting the pool of teachers who serve our city and, our cities, and really can't afford to live in them anymore.   Thibault : [00:05:29] That was the idea behind it. And we coupled it with a similar thread that we'd been listening to, which was that there were all of these non-profits focused on kids and education and supporting the school system. Programs like Teach for America and Playworks and Wide-angle Youth Media and Baltimore Urban Debate League. They were spread out in dozens of buildings all over Baltimore all essentially doing the same kind of work around kids but with no ability to really deeply collaborate. And so, these non-profits who focused on kids and education and come to us and said it would be amazing if we could all be located under one roof, if we could share resources and have free conference rooms and training facilities that we don't need all of the time but that we need throughout the day at different times. And so, our first project ended up becoming called the Center for Educational Excellence. We've always looked for a cooler name than that but that's the one that's kind of stuck. And it was a adaptive reuse of one hundred thousand square foot collapsing old factory building that got turned into about 40 apartments for teachers and thirty thousand square feet of collaborative office space for the non-profits underpinning the success of the school system.   Eve: [00:06:43] That's a pretty big project to tackle for a first project.   Thibault : [00:06:46] It was funny. Yeah, we look back on it and, you know, when we first started the company, which is called Seawall, we weren't sure if it was ever going to make it. And we had kind of said that we would, you know we'd been listening to teachers for so long, we'd probably buy a little four-unit row home and converted it into four apartments for teachers and that would be the first thing that we would do, which would probably cost four or five hundred thousand dollars. And our first project ended up costing 20 million dollars and we had no business taking on a project of that scale. And, you know, we can get into the movement that came as a result of it and what really propelled us forward. But that was, yes, that was our first project.   Eve: [00:07:31] How do you involve teachers in the process of creating these buildings? You've done three now, right? Three for teachers, is that correct?   Thibault : [00:07:39] We have, we have. So, everything that we've ever done has been built inside out. And what we mean by that is that we start with the end users, the people that are going to be living and working in our buildings. It's important for us that they have a sense of pride, of authorship and ownership in what's getting created. So, we start out by deeply listening to those people that are going to be occupying our spaces. And we let them drive the direction and the program of the space. We don't ever pretend to have any of the answers. Our job's to be quietly behind the scenes, asking the questions that held their thinking forward in a way that results in a finished product that makes them really proud and allows them to be more successful in whatever it is that they're doing.   Thibault : [00:08:29] So in the case of the teachers, we assembled a group of, a focus group of about 10. We walked them through the collapsing building as we first bought it. They worked with our design team over the course of twelve months to design every square inch of their apartments. We let them pick their own amenities they needed like a resource center in the building that had access to copiers and laminating machines and staplers and hole punchers, so that they could plan their lessons within the building and not have to run out to Kinko's in the middle of the night. We did the same thing with our non-profits. We let our teachers choose their own rents based on the salaries that they had and what felt like an affordable rent for them to be paying. And we really spent a ton of time with both the teachers and the non-profits from day one, letting them design what is their building.   Thibault : [00:09:19] I want to add something to that, because there are two other levels that we really focus on. As important as the teachers are, and whoever the end user is for any specific project we're working on, equally as important is the community that we're working with that. At the end of the day, they're the ones that have been staring at these dilapidated, collapsing old buildings and it's critical that they have a seat at the table in helping to shape what those new buildings are going to get turned into.   Thibault : [00:09:50] One of the things that developers are famous for, kind of going into a community and telling the community what they're going to get, and we take the complete opposite approach. In the case of the first teacher housing project, we went to our first neighborhood association meeting, introduced ourselves and explained that a bunch of teachers and non-profits had this idea of creating the first Center for Educational Excellence and that the building that seemed to be a good fit for that was this one building in their neighborhood. And they loved the idea. And for the most part, everyone was thrilled.   Thibault : [00:10:24] And I remember this one young man stood up and raised his hand, kind of defiantly, at the end of the meeting as if he was going to oppose the project and he, he said look, as great as this is, what you're missing is a little cafe or coffee shop on the corner of Howard and Twenty Sixth Street, which is where the project was. And there is no decent place to get a fresh sandwich or a good cup of coffee in this neighborhood and that would be an amazing thing if you guys could figure out a way to program a cafe into the corner there. And then he continued to say that if we brought in a Starbucks that they would throw rocks through the window at night when we weren't there, that it was really important that it be locally owned.   Thibault : [00:11:06] So I'm sitting there, and I think that what this guy is suggesting is a terrible idea. The corner of Howard and Twenty Sixth Street is, at the time, was not a corner that anybody would feel safe walking to. We had programmed a two-bedroom apartment for a teacher to go in, for teachers to go in there. And that seemed way less risky than putting a coffee shop that we really had no control over and just didn't feel like a retail type of location. But the community had spoken up and everybody kind of clapped and applauded and thought that it was a great idea. And so, we listened, and we took out the two-bedroom apartment, made space for a little thousand square foot coffee shop that ended up being one of the most powerful things that we did.   Thibault : [00:11:50] A local co-op started. They called themselves Charmington's, and they opened up this rad little cafe that just was the place to meet in the community. It was the place to have a affordable cup of coffee, to come and chat, big communal tables and just a really beautiful vibe. So inspiring was this little cafe and the co-op and ownership behind it that, jeez, I guess, five or six years ago I was in it and unannounced, President Barack Obama showed up to speak with the owner and they had been working on something together and it was just such an inspiring moment. And it kind of goes to show the power of giving up control of the perceived ownership and authorship of a project to the end users in the community and the momentum that that can build in a project, especially a really complicated project coming to life.   Eve: [00:12:54] So, and I suspect it did more than just give something to the community. It probably added something pretty spectacular to the teacher community, having that.   Thibault : [00:13:03] Yeah, yeah. Charmington's was amazing. You know, they committed to opening up at 6:00 a.m. so that the teachers on their way to school in the morning could stop and get a cup of coffee. One of the things that our management team is, we ended up setting up a property management company to manage every one of our properties because we've interviewed all these third-party property management groups and it felt like if you were about to have a baby, or had a baby, and you were going to give it to somebody else to raise. Like, nobody was going to love it as much as we would. And so, we set up this property management company. One of the things we did is, once a month at like five thirty in the morning, we would post up at the entrance and exit to the building and we'd be there with Charmington's coffees and muffins and bagels and fruit. And we would, like, serve the teachers a cup of coffee and we'd walk them to their cars with their books if they had too much to carry and just kind of send them on their way with like a big hug and a warm smile and a fresh cup of Charmington's coffee.   Eve: [00:14:03] That's a very nice story. So, I have to ask, every developer has stories about putting in an amenity like a roof deck that everyone says they want and then no one uses them, right? So, did that, has that happened at all? The teachers who were involved and the amenities that were requested, have they been used?   Thibault : [00:14:26] Yeah, so look, so the amenities include like fitness centers and lounges and free gated parking. The one amenity that's evolved is the idea of a resource center, right? The room where the teachers can make their, plan their lessons and photocopy. When we first built the building in 2008 or 2009, when it opened, teachers were still going to Kinko's to make photocopies of their lessons. The evolution was that the classroom got more digital and people stopped making photocopies and printing hundreds of pages to hand out to students. And as that trend started, the need for the resource room, for the most part, went away entirely.   Eve: [00:15:19] So amenities evolve, right? And needs evolve it's pretty fascinating. Going back to something you said earlier, which was that you allowed tenants to basically choose their own rent. How did you fill the inevitable financing gap? Because you can't possibly restore a building like that and provide affordable housing without some sort of, I suppose, funny money, right?   Thibault : [00:15:44] Yes. This is a beautiful story and really a learning moment for us. You know, we had set off to do a project that would cost about five or six hundred thousand dollars to start. And we kept striking out. And eventually, a friend of ours pointed us to this collapsing old factory building that was way past our ability to wrap our heads around at the beginning. And we worked with the teachers and they told us what their rents needed to be. And the non-profits the same thing. And then we kind of backed into how much debt we could afford. And so, the number based on the net operating income was that we could afford about six million dollars’ worth of debt. And we went out and had a architect and contractor help us figure out what it would cost to build, this being our first project. And the price tag came back at 20 million dollars, all in for the project. So, we had a 14-million-dollar gap in our capital stack, which to most would have felt insurmountable but we were so driven by this, this movement of providing amazing space for the people doing the most important work in our cities that we were never going to give up on it.   [00:16:54] And we called a good friend of ours from Enterprise Community Partners, Bart Harvey. Enterprise was the brainchild of the late Jim Rouse, A total urban visionary. And we toured him through the building. Most of the people who we toured throughout the building told us we were crazy and that the idea would never work. And we toured Bart through the building and we went out for coffee afterwards and we told him about this fourteen-million-dollar gap and he said, Guys, I know just what to do. You're in good hands now.   Thibault : [00:17:25] And I'll never forget that moment. He started to tell us about Historic Tax Credits, which is a program that for every dollar you invest in keeping a historic building, rehabbing it, the federal and state government give you a tax credit for that which turns into actual equity into the project. There is also something called the New Market Tax Credits, which we knew nothing about, which encouraged commercial investment in low income census tracts. And so, Bart starts telling us about all this and he starts making introductions around the country. And before you know it, the phone's ringing off, ringing off the hook with all these great community-driven lending institutions who want to be a part of the first Center for Educational Excellence. And with Bart's help and Enterprise's help we ended up closing that gap with all of those tax credits. We were still short about a million and a half dollars and we went to the city and state and just pled with them of the importance that this project had to the education community and to the neighborhood that it was going to be located in. And they collectively came up with that last million and a half dollars of, you know, fairly soft money. Certainly, we would owe it back at the end of the day, but the terms were super flexible. It allowed the building to, kind of, really ramp up and stabilize. So, when you kind of have the vision set for you, as hard as it's going to be to get there, there's always a way to push it forward. And it was an incredible learning opportunity for us around really not giving up when things got complicated and pushing forward. no matter how challenging the situation was.   Eve: [00:19:18] Yeah, I've done projects like that, they're extremely challenging but very fulfilling. So, have you been able to stick to the choose your own rent mantra? Like, what happens now that the building, I suppose the first building, is stabilized?   Thibault : [00:19:30] Yeah. I mean, look, for sure, you know, the first building's been a great success as a result of that and I'll say, I will point out that when we started leasing the property, the entire building was fully leased nine months before we finished construction. And by the time we finished, there was a waiting list of over 300 teachers waiting to get in. There was clearly a demand for it. I mean, I think that was driven by all these teachers spreading the word and have it go viral organically.   Thibault : [00:20:03] You know, we've got this crazy developer that let us choose our own rent and pick our own amenities. He's building this brand new building for us, it will probably never work, but if it does you've got to get in. And as a result of, kind of, the collective success of the first projects we got invited to do another one in Baltimore, and then we were asked to replicate the model in some other cities across the country. And yeah, across the board, we've held our rents low for teachers. They've certainly crept up. it's been kind of maybe 12 or 13 years since the first project was completed. But we've actually had to artificially freeze the rents, even though expenses continue to go up, to remain committed to the teachers and what seems affordable to them.   Eve: [00:20:49] And so how many units have you built to date?   Thibault : [00:20:52] I think we've probably built around 400 apartments to date.   Eve: [00:21:01] OK, a hefty number.   Thibault : [00:21:02] Yeah, it's a huge number considering where we started. You know, the original goal was to start off a little four-unit apartment buildings.   Eve: [00:21:11] Very different.   Thibault : [00:21:11] We've ended up doing about three hundred million dollars of really transformative, collaborative real estate projects over the last decade.   Eve: [00:21:20] So I have to ask, is there another group of needy tenants that you'd like to serve beyond teachers? It's really interesting because I see that the very targeted mission has actually helped market the projects for you.   Thibault : [00:21:34] Yeah, look, we get a lot of requests to figure out a way to do some sort of similar housing for nurses, right. And first responders and police officers, many of whom can't afford to live in the districts that they're working in. And we've been evaluating that over the years. I think one of the things that's been really fascinating to us is the impact of retail on communities and especially locally owned small businesses that reflect the demographics of the neighborhoods that they're in, or not. Small retail, especially in today's e-commerce world, is increasingly challenging. And finding really creative ways to provide space for these social entrepreneurs and small businesses to take real risk and to get their ideas out in the open is something that I think is really critical, a critical next step and something that we're really studying very closely.   Thibault : [00:22:44] We've done a couple projects around that. And the more we learn and the more challenging we understand it to be, the more inspired we are to figure out ways to continue to push that forward.   Eve: [00:22:57] So what other projects are you working on right now? I think I read somewhere, a market building that you tackling?   Thibault : [00:23:04] We organically happened in to the food hall world. We don't like to think of it as a food hall. About five years ago, a group of chefs in Baltimore approached us and asked us to do for them what we had done for teachers, which was to provide collaborative plug-and-play space at affordable rents where they could focus 100 percent of their energy and attention on what they do great - cooking, good food - and leave the, like, back-end side of running a restaurant to us. And we launched a project called R. House (R period House). It was incredibly successful, and we had 10 chefs open up. We had over 100 chefs apply for the 10 spots and we really looked at ourselves as a launchpad, not as a food hall but a launch pad for creating community and for helping chefs launch really inspiring ideas.   Thibault : [00:24:03] As a result of the work that we did with that, of the success of that project, we were invited to apply for RFP for the redevelopment and really the saving, of the oldest, longest continuously running public market in the country. A project called Lexington Market in Baltimore City that at one point was the place to be in Baltimore. My dad tells stories of taking the trolley down there on Saturdays with his father and literally, you didn't start a weekend before showing up at some point at Lexington Market. That area where Lexington is in, has suffered from significant disinvestment and it's really a shell of its former self and the market was at risk of closing. And so, we responded to the RFP with this idea of, on a citywide scale, doing the deepest listening that we've ever done and helping to breathe a new life back in, in essence, transforming Lexington Market into something that would work for the entire city of Baltimore. It's the largest, most complicated, riskiest project that we've ever taken on. But it's also the most soul fulfilling one that we've ever done. It literally checks every box of things that interest us as a company. And it's pushed us so far out of our comfort zone that the amount of learning that we're doing on a daily basis is so inspiring and I keep telling everybody that asks about it and I keep reminding our team that it's impossible that we're going to get this right the first time, even with the deepest listening that we're doing. A project of this scale and magnitude is going to continue to grow organically. Our job and our role is to set it up, to evolve to be what all of Baltimore expects it to be and wants it to be as they close their eyes and dream of what this project should be.   Eve: [00:26:08] It sounds pretty fabulous. I cannot wait to visit it. When I travel, the local market is always the first place I go because I think it's kind of the life and heart of every city. They’re always fascinating places, I think, so it's really great to hear that it's being revived. Have your plans for housing or housing amenities or the market changed at all with the pandemic? That's a tough question, but I'm going ask - it's a pretty tough time.   Thibault : [00:26:36] It's a beautiful question. We think about it and we talk about it every single day. The challenge with the pandemic is that a plan you make one day is no good by the time you wake up the next morning just because, like, everything is changing so rapidly. I think we're in a really fortunate place because all of the work that we've done has been around providing affordable, kind of, workforce, discounted apartments. And I think there will always be a need for that product.   Thibault : [00:27:11] We are watching it really closely. We're trying to wrap our heads around how we can be even more helpful and supportive in these rapidly changing times, especially as it relates to how people live and interact with each other. But we don't have any of the answers yet, and we're just continuing to ask the questions that help us wrap our arms around what role we can play in that.   Eve: [00:27:35] Yeah, I worry very much about places like the little coffee shop surviving this and I have a number of tenants myself and I've been, sort of, we've been limping through this disaster trying to figure it out. So, it's a big question but let's move on to something happier and that is like, you know, what's your big hairy goal. Where are you going with all of this?   Thibault : [00:28:00] Yeah, look, a lot of people ask us that question for me and for us it's somewhat simple, right? Like, our goal and the work that we do is almost 100 percent driven by the communities that we work in. We want real estate to put the power back into the hands of the communities. So, this neighborhood where we did our first project for teachers, the neighborhood's called Remington in Baltimore City. As a result of the relationship that we formed with the community associations that are there, they came up with this master plan of other things that they wanted to see happen in their community.   Thibault : [00:28:41] And we worked with them, we did a lot of listening and we've slowly but surely been chipping away at that master plan. We've helped to bring the first bank to the community. We've helped to bring the first pharmacy to the community. We've helped to bring the first dry cleaner to the community, the hair shops and hair places, the gyms. And all of it's been done in an incredibly inclusive way where we've just, kind of, continued to ask what else, what else could serve you guys and what else do you guys think that you're missing?   Thibault : [00:29:14] So in large part, our work's been driven by the communities that we're in and the cities that we're in and what they collectively think that they're missing. And what role real estate and what role our company Seawall can play in helping them realize their dreams.   Eve: [00:29:30] It sounds like you're having fun. I have to ask; do you think socially responsible real estate is necessary in today's development landscape?   Thibault : [00:29:40] I don't know that necessary is the right word. I think mandatory should be the right word, especially with how quickly the conversation has been changing and especially with how aware we all must be around the inequalities that real estate has spread throughout our communities in our country. To sit on the sideline and pass blame on previous generations for how things are and hope that somebody else is going to fix it, is no longer an option. Now, more than ever, we are fully aware of it and we all have a responsibility to ask what role we can play in helping communities, especially disenfranchised communities, use real estate and buildings to help them achieve what it is their they're after.   Eve: [00:30:35] Yes. So, are there any other current trends in real estate development that you think are most important for the future of our cities? Maybe things that you're not working on?   Thibault : [00:30:48] Look, I think transportation is such an important part around the real estate and urban planning conversation and the cities that have gotten it right, and who are getting it right, are the ones that we all need to look to. Without adequate and exceptional public transportation, so much of this work that we're all doing is just going to have its growth stunted. And I think that's one of the most important things that cities and urban planners need to be thinking through, is exceptional public transportation.   Eve: [00:31:28] Of course, that's shifting rapidly at the moment too, with the pandemic. So, we don't even know really what that will look like. But perhaps the ideal is that, you know, the next time you build a building for teachers, they won't need to have on-site parking. They'll have transit that can get them to their jobs. So, whatever that looks like. Yeah, I totally agree with you. And what community engagement tools have you seen that have worked best? It's always very difficult for most developers to contemplate how to engage a community.   Thibault : [00:32:09] Look for us, it's been really important to come into a community as neighbors and not guests. And we've lived our entire professional career that way. And I think that's really one of the differentiating factors around connecting with communities. Not just, kind of, coming in and being one and done, but spending real time there, sitting on people's front porches and stoops and listening to what it is that they want. Those are the really important lessons that we've learned along the years, over the years, as we've worked in the communities where we have.   Eve: [00:32:52] Yeah, I can see that. It's perhaps not part of the original job description for a developer, but it's certainly a really important one. So, I have one final question, and that's what's next for you?   Thibault : [00:33:08] We've been asking ourselves what's next for us for some time now, and I think that conversation has been amplified given what's going on in the world around us. One of the things that we're really aware of is the unintended consequences of successful development. You know, when we set out to do the first teacher housing project in that neighborhood of Remington, fully supported by the community, it was all high fives and hugs. And then when we worked with the community to start to chip away at their master plan to bring in all of these resources in retail and apartments and office space, all kind of things driven by the neighborhood, you know, hundreds of millions of dollars later, that little, somewhat forgotten community had become one of the premier destinations and places to be in the city. And as a result of that, the gentrification conversation became very real. And one thing that we're really aware of is that we cannot run from it. We are responsible for it. And in hindsight, as well-intentioned as we were, we would have done more from the very beginning to make sure that if the neighborhood succeeded, people that had lived there for generations, the legacy residents, would never be displaced. And there's been incredibly hard lessons learned along the way.   Thibault : [00:34:43] And so, our mandate, and one of the things that we think so much about today, is now that it is what it is. It's not too late. And how can we creatively work with the community to continue to find ways for them to attain their development goals? But in a way that is going to really limit displacement and make sure that nobody's ever kicked out of their store or their office or the home that they lived in for decades. And that's really hard work.   Eve: [00:35:18] It is, it's really hard to balance.   Thibault : [00:35:21] Yeah, it's really hard to balance and it's incredibly vulnerable. But it is something that we're committed to and as we approach new communities and new projects, we're even more aware of it going in at the early stage so that we can plan and get ahead of it if the development projects succeed.   Eve: [00:35:21] So, do you think, I mean I think about this a lot too, do you think government has a role in this?   Thibault : [00:35:44] Yeah, I'm hesitant to pass the blame on to...   Eve: [00:35:49] I'm just saying, you know, by the time a community is feeling the pain of gentrification, it's too late. It's over, right? So, I think a lot about what you could put in place decades before to encourage good development and investment in neighborhoods that need it, and safeguard people who are already there. It's hard to think about. But I think you have to think about a long time before you show up.   Thibault : [00:36:19] You do. And you interviewed a friend of mine, Brian Murray, in Philadelphia that's done things a little bit of the opposite way as us with Shift Capital. They went in and bought millions of square feet of projects with the idea of having gotten in early enough, bought it at the right price, and being able to have the community involved every step of the way as the neighborhood starts to meet its goals.   Eve: [00:36:47] And controlling real estate so they could control what happened to it, right?   Thibault : [00:36:51] Yep. You know, ours has been a little bit of the opposite. We've just been kind of, like, piecemealing things together totally unintentionally, just driven by what the neighborhoods wanted. But as a result of that, and it'd success, now other landlords are taking advantage of the rising tide and not doing it in an inclusive way that honors the people that have been there forever. So, it's a little too late, it's hard to buy anything in that community and invest in it in a way that would keep it affordable. And that's the challenge.   Eve: [00:37:28] It's a huge challenge. I'd love to know what strategy you come up with for your next community. I think it's a really important challenge because not doing anything is bad too, right? These communities need investment because they're disintegrating, and they haven't been invested in for a long time and then when you invest, you become an unhappy player in the gentrification game, which is not what we intend, right Very difficult.   Eve: [00:38:00] Ok, well, thank you very much for this conversation. And I'd love to hear what you're doing next. You're tackling some really huge projects, and I really appreciate what you're doing.   Thibault : [00:38:13] Yes, thank you so much. I've enjoyed listening to some of your past episodes, and it's certainly a little bit of a niche market but you're asking all the right questions. And I've enjoyed learning from your past guests over time so keep up the great work!   Eve: [00:38:29] OK, thanks, Thibault. You have a really great day. Bye.   Thibault : [00:38:32] You too. Thanks so much.   Eve: [00:38:45] That was Thibault Manekin, Seawall believes in reimagining the real estate development industry. They want the built environment to empower communities, unite our cities and help launch powerful ideas. Seawall's projects tackle three things. First, they want to save large, historic and blighted buildings. Second, they want to create affordable communities with rents that are customized to pay checks. And finally, they strive to be inclusive in the communities they work in.   Eve: [00:39:19] You can find out more about impact, real estate investing and access to the show notes for today's episode at my website evepicker.com. While you're there, sign up for my newsletter to find out more about how to make money in real estate while building better cities.   Eve: [00:39:36] Thank you so much for spending your time with me today. And thank you, Thibault, for sharing your thoughts with me. We'll talk again soon but for now, this is Eve Picker signing off to go make some change.

Jason is joined by guest Scott Krone to discuss his creative approach to converting units into self-storage units. Scott discusses some insight on opportunity zone, PACE financing, and historical tax credits. Scott, coming from an architectural background, looks at the property a little differently than most developers with a keen eye for improvements. Take a peek at some of Scott's development strategies. Key Takeaways: [3:35] With ‘green' being a more common platform, reusing and readapting a building not only suited this but also was more cost-effective [5:03] Does Lead Certification apply to self-storage facilities? [8:00] How does Pace Financing work? [12:05] How do the interest rates compare to commercial loans? [14:28] From an architectural standpoint, how do you figure the optimum amount for property improvements? Websites: www.JasonHartman.com www.CodaMG.com

Host:Matt Bach, Director of Communications, Michigan Municipal League Guest:Chris Hackbarth, Director of State & Federal Affairs, Michigan Municipal League On this week's Monday Morning Live, the League's Matt Bach sits down with Chris Hackbarth in a one-on-one conversation about the state budget deal tentatively reached between Governor Whitmer and the Legislature. We discuss what the budget means for cities and touch on other bills being worked on this week involving historic tax credits and regional transit authorities. We also run down our upcoming Newly Elected Officials training happening in Lansing on Dec. 11, Walker on Jan. 14, and Ann Arbor on Jan. 23. You can still register by clicking on the trainings that interest you in our events calendar here: http://www.mml.org/events/calendar.htm. This will be our last Monday Morning Live of the year. Our next one is scheduled for 10:30 a.m. Jan. 6. 

S2E3 - Maybe you have seen a historic building or a structure with some architectural interest getting restored to its former glory. While the restorer may have purely aesthetic interests, they also may have a little help from Historic Tax Credits. Michael Craven of Enhanced Capital demystifies this perhaps little known and probably misunderstood process with Rousing Housing host Calvert Stone. What is the purpose of these credits? How do they work? What is the life-cycle of credits and how do they impact a community? These questions and more are answered on this episode of Rousing Housing. Calvert Stone is an attorney with Commerce Title in Baton Rouge, LA. From large, complex commercial transactions to small home equity loans, Commerce Title is prepared to handle your closing in an efficient, professional manner. Close with confidence! Learn more by calling 225-769-8800 or visiting Commerce Title online. Find Commerce Title on Instagram or Facebook. Please note: This podcast is for informational purposes only.

In this episode, Realtor Adam Kruse and a few of his agents talk to Maureen McMillan about being a historic preservation consultant and how people can receive federal and Missouri historic tax credits for residential and commercial rehabilitation projects. For the Mortgage Minute, George DeMare of Endeavor Capital Mortgage talks about the Fastrack Mortgage Program. Email questions to PODCAST@HermannLondon.com

Burlington Economic Development Director Peter Bishop sheds light on Burlington's long-range plans for downtown Burlington and attracting business to other areas from the city council's recent Goal-Setting Workshop. 3:50 - An overview of city priorities outlined at the meeting 6:20 - Economic development priorities 7:00 - What goes into site development for business growth 9:30 - Shovel-ready matters. "Sites not dirt." 12:00 - UNC School of Government's Development Finance Institute and how it can help downtowns and other areas 16:00 - The future of parking in downtown Burlington 18:00 - Burlington Downtown Corp.'s vision plan: Reuniting Main Street, creating a plaza downtown if the police department headquarters is relocated 20:00 - "A bold plan." 24:30 - A vision, a path, but not set in stone 28:00 - National OnDemand headquarters coming to downtown Burlington 29:40 - N.C. Commerce Department's Building Reuse Grants 32:50 - May Hosiery Mill's transformation into loft apartments is happening 34:00 - Rep. Steve Ross' proposed extension, expansion of N.C.'s Historic Tax Credits, which enabled May Hosiery project 39:00 - Belong in Burlington session is 6 p.m. Wednesday at the Municipal Building

Are two tax incentives better than one? Stacking, or twinning, multiple tax credits can oftentimes help bridge a funding gap on certain real estate projects. The Opportunity Zones program can be paired with a variety of other tax credits, including the Historic Tax Credit. The place-based nature of the Opportunity Zones program makes it ideally suited to be paired with the Historic Tax Credit. The HTC is a 40+ year old tax policy that encourages private sector investment in the rehabilitation and re-use of historic buildings. Rich Rogers is a land use law and economic development planning attorney at Borrelli & Yots. Show notes and transcript on OpportunityDb.com

In this week’s episode I interview preservationist Ashley Gaudlip about her dual roles as an adjunct professor of GIS mapping and as a tax credit reviewer in the state division for historic preservation (or SHPO) in Louisiana. Ashley goes into detail about Geographic Information Systems (GIS); how they can be used in preservation and how she teaches the course to the students at Tulane. She also discusses the process the SHPO uses to help people qualify for state and national historic tax credits including breaking down the location and submission requirements and how her office reviews the information

The term "policy" is usually associated with facts, figures, and dry, boring statistics. Today’s guest, Renee Kuhlman, proves that association wrong.In her 19 years at the National Trust for Historic Preservation, Renee has provided advocacy training, written articles, and briefs on policy issues, and has worked with preservationists around the country to effect real and meaningful change. As the current Director of Policy Outreach, Renee has been assisting legislators and advocates across the country with the adoption, expansion, and protection of state-level and federal-level historic rehabilitation tax credit programs.Most recently, she has been involved in a multi-year campaign to protect historic tax credits, which are some of the most important tools available to the preservation community. Renee also works on a campaign to enact dedicated funding for the maintenance of historic resources in our national parks.In this episode, Nick and Renee discuss: what a historic tax credit is and why you should care; the deconstruction of negative myths surrounding historic tax credits and how they benefit communities; how real estate developers and you can benefit from both federal and state-level historic tax credits; the role local grassroots organizations played in saving federal historic tax credits last year; resources you can access to advocate for; and how to improve or increase your state's historic tax credits; and how our national parks hold more than just beautiful outdoor scenery/ As you can see, it's not just all stats and figures on this week's episode of PreserveCast!   PRESERVECAST FB PAGEhttps://www.facebook.com/preservecast/PRESERVECAST TWITTERhttps://twitter.com/preservecastPRESERVECAST SHOW NOTEShttps://www.preservecast.org

Today's episode is on Historic Tax Credits with Robert Powers. When can I obtain Historic Tax Credits? How do they work? When to apply? What expenses create credits versus expenses that do not qualify? The what, where, when and how's to historic tax credits today and more...If you are about to restore an older property you do not want to miss this one!Robert Michael Powers is the President of Powers & Company, Inc., a national consulting firm specializing in the preservation and conservation of historic structures. Formed in 1995, the firm consists of a full-service professional team whose work has been recognized by the Urban Land Institute, the National Trust for Historic Preservation, the American Institute of Architects (AIA), the Pennsylvania Historical and Museum Commission and the Preservation Alliance for Greater Philadelphia. With over thirty years of diverse experience on projects throughout the United States, Mr. Powers is a national expert on the interpretation and application of the Secretary of the Interior’s Standards for Rehabilitation in historic preservation tax incentive projects. Mr. Powers is known for his ability to problem-solve and craft practical solutions with clients that are sensitive to both preservation and development issues. Mr. Powers was Principal in Charge at Powers & Company, Inc. for the preservation of the U.S. Post Office, Main Branch at 30th Street and the PSFS Building, both in Philadelphia. At the Pennsylvania State Capitol Building and Complex. Mr. Powers was the Consulting Supervisory Conservator on the interior restoration of the buildings within the Capitol complex. In addition, Mr. Powers has consulted on such notable preservation projects as Los Angeles City Hall and the Headquarters for Urban Outfitters in the Philadelphia Naval Business Center. Prior to establishing his own firm, Mr. Powers for twelve years, honed his skills at the National Park Service administering the Federal Historic Preservation Tax Incentive Program for projects within seventeen states. More information on the work of Mr. Powers and Powers & Company can be found on the company web site at www.powersco.net. See acast.com/privacy for privacy and opt-out information.

Warshaw Burstein attorney Michael Zukerman discusses the importance of historic tax credits as well as how and why they are used.

It won't merit mention in national stories about proposed federal tax reform legislation that recently passed the House, but for folks in Spartanburg excited for historic redevelopments like the  project and community enhancements like the Northside's , changes may be coming that would severely curtail similar projects in the future. A pair of tax credits that have been frequently used by to stimulate development in Spartanburg, the  and the , would be eliminated under the version of the federal tax reform bill currently being considered.  Underscoring the importance of using such credits to stimulate investment, Montgomery Building developer  that Historic Tax Credits "bring the deal to a level that's affordable," and that in their absence, Montgomery's redevelopment would not have been feasible. Today on the podcast, Assistant City Manager Chris Story helps break down the proposed changes and what they would likely mean for Spartanburg. Listen for info, and then contact  and Senators  and  to share your concerns about what losing these credits could do to harm our city's development efforts.