INVESTMENT TAX CREDIT (ITC) - (Federal Income Tax Credit)
This is the most arduous tax benefit to apply for but the most beneficial. If the improvements in the building totaled $5 million, it would result in a $1 million tax credit. The credit can be carried forward and backwards and if not completely used, can be discounted and sold in the marketplace.
Contact: Dave Cook/Scott Miller
The 3-story building would make ideal office space for any business that wants large open spaces with a high-tech/industrial look. Creative enterprises will especially appreciate the ambiance of the building. Perfectly suited as office space for Architects, Advertising Agencies, High-Technology start-ups, a Downtown Medical Center, or support facilities for the Ballet, Opera or Alley Theater. It would also work great as a Fashion and Design Center with showrooms, offices and common-use areas for productions and displays. Trendy offices for brokerages or traders. Employment Agencies...especially agencies dealing with high-tech jobs. Any of these uses could be complimented by using the basement as a Jazz Club/Bistro at night and sharing the available parking.
ALTERNATIVELY, a downtown Entertainment Center could be created using the soundstage as a Performance Venue/Nightclub and the rest of the building for Shops, Bistros and Bars to support THE MAIN DRAW.