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continued from page 2 <br />Novogradac Journal of Tax Credits <br />the quality of life for the residents,” said Matt Goldstein, sen <br />Advisory Board <br />project coordinator for Minneapolis’s community planning and <br />LOW-INCOME HOUSING TAX CREDITS <br />economic development’s multifamily housing development divi- <br />Bud Clarke <br /> BOSTON FINANCIAL INVESTMENT MANAGEMENT <br />sion. “The project is consistent with the city’s goals and polic <br />Jana Cohen Barbe <br /> SNR DENTON <br />earned the most points of any project that requested money in th <br />Tom Dixon <br /> BOSTON CAPITAL <br />2010 round.” He said Riverside Plaza received the points because <br />Valerie White <br /> STANDARD & POOR’S CORPORATION <br />it is a mixed-income development, preserves existing units, has <br />Rick Edson <br /> HOUSING CAPITAL ADVISORS INC. <br />a longer than required affordability period and because “every <br />Richard Gerwitz <br /> CITI COMMUNITY CAPITAL <br />Rochelle Lento <br /> DYKEMA GOSSETT PLLC <br />John Lisella <br />also agreed to hire 90 workers from the surrounding community. <br /> U.S. BANCORP COMMUNITY DEV. CORP. <br />Phillip Melton <br />- <br /> GRANDBRIDGE REAL ESTATE CAPITAL <br />Thomas Morton <br /> PILLSBURY WINTHROP SHAW PITTMAN LLP <br />provement plan for the Cedar-Riverside neighborhood. The Min- <br />Stephen Ryan <br /> COX, CASTLE & NICHOLSON LLP <br />neapolis Public Housing Authority renovated units at The Cedars <br />Arnold Schuster <br /> SNR DENTON <br />in 2010 and the city is building two light rail transit stations <br />Rob Wasserman <br /> U.S. BANCORP COMMUNITY DEV. CORP. <br />the site’s perimeter. <br />PROPERTY COMPLIANCE <br />After securing the LIHTC and bond allocation, Sherman Associ- <br />Rose Guerrero <br /> CALIFORNIA TAX CREDIT ALLOCATION COMMITTEE <br />ates sought out a tax credit syndicator or investor that would b <br />Sharon Jackman <br /> SIG SERVICES LLC <br />able to invest nearly $34 million in LIHTCs. “It’s complex, but <br />Michael Kotin <br /> KAY KAY REALTY <br />an important project for the city. AEGON has the ability to take <br />Michael Snowdon <br /> MCA HOUSING PARTNERS <br />projects of a size that other syndicators may not be able to acc- <br />Gianna Solari <br /> SOLARI ENTERPRISES <br />modate,” said Anne Simpson, director in AEGON’s Community <br />Ruth Theobald Probst <br /> THEOPRO COMPLIANCE & CONSULT. INC. <br />Investments Group. AEGON combined Riverside Plaza’s LIHTCs <br />Kimberly Taylor <br /> HOUSING DEVELOPMENT CENTER <br />and HTCs into an equity fund that includes Google Inc. as an <br />investor. <br />HOUSING AND URBAN DEVELOPMENT <br />Sheldon Schreiberg <br /> PEPPER HAMILTON LLP <br />The National Park Service (NPS) added the 38-year-old Riverside <br />Monica Sussman <br /> NIXON PEABODY LLP <br />Plaza to the National Register of Historic Places on December 28 <br />2010. The NPS agreed with Sherman Associates assessment that, <br />NEW MARKETS TAX CREDITS <br />as one of the few remaining New Town-In Town developments, <br />Frank Altman <br /> COMMUNITY REINVESTMENT FUND <br />Bruce Bonjour <br />- <br /> PERKINS COIE LLC <br />- <br /> LANE POWELL <br />Marc Hirshman <br /> U.S. BANCORP COMMUNITY DEV. CORP. <br />erside Plaza for federal and state HTCs. “That’s helped raise $2 <br />Scott Lindquist <br /> SNR DENTON <br />million in additional equity,” Sherman said. <br />Ruth Sparrow <br /> FUTURES UNLIMITED LAW PC <br />Herb Stevens <br /> NIXON PEABODY LLP <br />AEGON provided nearly $15 million in equity for the federal <br />Mary Tingerthal <br /> HOUSING PARTNERSHIP NETWORK <br />HTCs through the same fund that provided the LIHTC equity. <br />Tom Tracy <br /> HUNTER CHASE & COMPANY <br />Joseph Wesolowski <br /> ENTERPRISE COMMUNITY INVESTMENT INC. <br />through the Minnesota Historic Structure & Community Rein- <br />vestment Tax Credit program. The state Legislature created the <br />HISTORIC TAX CREDITS <br />program last year to encourage redevelopment. Under the pro- <br />Don Holm <br /> FARRIS BOBANGO BRANAN PLC <br />gram, Riverside is eligible for a 20 percent tax credit that She <br />John Leith-Tetrault <br /> NATIONAL TRUST COMM. INVESTMENT CORP. <br />plans to return the state for a grant equal to 90 percent of its <br />Bill MacRostie <br /> MACROSTIE HISTORIC ADVISORS LLC <br />or about $14.1 million. “We were struggling with gaps in the pro- <br />Donna Rodney <br /> BRYAN CAVE LLP <br />ect …. The state historic credit was absolutely critical. It rea <br />John Tess <br /> HERITAGE CONSULTING GROUP <br />the gap completed and got the project closed,” Sherman said. <br />RENEWABLE ENERGY TAX CREDITS <br />Financing for Riverside Plaza closed on January 6 and construc- <br />Ed Feo <br /> USRG RENEWABLE FINANCE <br />tion began on February 1. Workers will replace the domestic <br />Michael Hall <br /> BORREGO SOLAR SYSTEMS <br />Jim Howard <br />water, sanitary sewer systems and mechanical systems, as well <br /> DUDLEY VENTURES <br />Forrest Milder <br /> NIXON PEABODY LLP <br />as individual unit remodels. Sherman Associates plans to reno- <br />Darren Van’t Hof <br />U.S. BANCORP COMMUNITY DEV. CORP. <br />continued on page 4 <br />COMPANY PROFILE: Public Profile <br /> <br />