Incentives
Property Taxes
We help you save money on your real and personal property taxes by negotiating for property tax savings on your project. Depending upon the state and local jurisdiction, these often range in duration from 10-20 years and may be structured in different ways, including:
-
Property Tax Abatements
-
PILOT (Payment-In-Lieu-Of-Taxes) Agreements
-
Phantom Bond Issuances
-
Tax Rebates and Refunds
-
Grants to Offset Taxes
We have negotiated incentives across multiple states and helped clients realize the value of these incentives:
Tax Credits
Your economic development project may be eligible for tax credits based on capital investment and job creation. These credits often help to offset state income tax and/or withholding taxes. While these programs are typically statutory in nature, the percentage awarded and other key features, such as the ability to transfer the credits, may be awarded on a discretionary basis. We help you optimize the realization rate of these credits and also facilitate transfers/sales of credits when that option is available.
Infrastructure Assistance
Many programs are available at the federal, state and local level to help offset infrastructure costs and site preparation expenditures. At the federal level, the Community Development Block Grant program may be able to fund infrastructure improvements for your project. States typically also have site preparation grants and infrastructure programs, which may significantly reduce the costs associated with pre-construction items, such as grading, utility installations, roadway improvements, stormwater management, and similar items. We have experience assisting clients with a wide variety of these programs and can help you manage this process.
Grants and Land/ Buildings
Depending upon the competitiveness of the project, cash grants, free or discounted land or buildings, and other direct offsets to your capital budget may be available on a discretionary basis. We help evaluate the potential for these incentives and negotiate for an incentive package that helps you reduce up-front costs as well as your ongoing operating expenses. We have used creative solutions to make these incentives available for projects when funding wasn't otherwise available. These incentives are typically memorialized in a project agreement, which we will help draft and negotiate.
Project Agreement Negotiation and Implementation
We negotiate and finalize agreements to bring your project to fruition.
