The Pittsburgh Penguins have finalized a groundbreaking agreement with local community groups after years of negotiations involving the development of the 28 acre site where the former Civic Arena once stood. The agreement provides for, among other things, the inclusion of minority participation in the development of the 28 acres and a percentage of affordable … Continue Reading
A successful real estate project often requires blending several sources of funding. New Market Tax Credits (NMTC) are an alternative method of financing projects located within a specific ‘Low income urban/rural community (LIC). The NMTC program was enacted as a part of the Community Renewal Tax Relief Act of 2000. Administered by the Treasury Department, … Continue Reading
