Dudley Ventures

This study examines the background and evolution of the federal historic tax credit (HTC) in the United States; presents quantitative and qualitative information regarding the economic and other benefits of the federal HTC (e.g., providing affordable housing and spurring downtown revitalization); and explores ways in which the current federal HTC-a strong program in its own right-can be more flexibly applied in the future so as to realize yet greater production and ensuing benefits.

The Historic Tax Credit Coalition and Rutgers University released a study today that highlights the cumulative economic impacts of the federal historic tax credit (HTC) over the past three decades. Enacted by Congress in 1981 as part of an economic stimulus package, the federal HTC provides a 20% income tax credit for the rehabilitation of certified income-producing historic properties.

A REVEALING NEW REPORT by Ernst & Young LLP quantifies the sharp decline in federal low-income housing tax credit (LIHTC) equity investment in the recent past, and suggests that passage of a legislative "carryback" proposal would likely boost future investment significantly.

Dudley Ventures new corporate headquarters att 22 East Jackson in Phoenix's Warehouse District was recently featured on the Downtown Phoenix Historic Building & Warehouse Tour, hosted by Phoenix Mayor Phil Gordon.

The approximately $80 million reconstruction project is the result of widespread local support and a complex financial transaction that utilized the federal and Louisiana state new markets tax credits, five separate community development entities (CDEs), reimbursement funds from the Federal Emergency Management Agency (FEMA), and other resources.

Cyntreniks LLC, a Baton Rouge, La. based developer, announced the completion of a combined $21 million federal and state tax new markets tax credit (NMTC) and historic tax credit (HTC) financing for the redevelopment of the Kress Knox Welsh/Levy historic buildings in downtown Baton Rouge. The funds are being used to redevelop and restore this series of three historic buildings into a single project entity known as KRESS at Third and Main.