Monahan568 Member Username: Monahan568
Post Number: 224 Registered: 04-2004
| Posted on Wednesday, September 19, 2007 - 12:11 am: | |
Still no one has yet pointed out one new residential development in detroit that has not received some kind of tax credits. Dose this mean that the detroit loft or new residental markets are all over inflated and are eventually doomed to fail, because they are being developed simply to take advantage of tax credits wether it be historical, brown field, ect.. and after receiving these tax credits they are then selling them to banks and keeping 10% as a project manager fee. example: 2 million in tax credits equals 1.7 million in cash which equals 170,000 to the devdeloper just for setting the deel up (Message edited by monahan568 on September 19, 2007) |