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.
FOR LEASE INFORMATION AND
FOR INFORMATION ON RENTING THE SOUNDSTAGE:
Contact: H. Milton Howe
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.