Historic Tax Credits for Developers

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Historic Tax Credits for Developers

• A Guide to Syndication and Beyond
• Iped
• February 8, 2007 Los Angeles, CA

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Inside the Box John M. Tess President Heritage
Consulting Group
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• Portland Oregon National Guard Armory Annex

Built 1891
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• Uses
• Armor Storage
• Shooting Range
• Drill Hall
• Event Hall

• Building Materials
• Stone Brick
• Wood-truss roof system

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Prior to its extended vacancy the Armory was a
beer warehouse
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10 Years of knocking ideas around

• Health club
• Big box retailer
• Demo
• Theater

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Drawbacks

• Mass
• Few windows/little
• light
• Poor ventilation
• Parcel worth more
• than building

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Location
Pearl District/Brewery Blocks
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A Enormous Endeavor
Convert the Portland Oregon Armory Annex building
into a performing arts theater using sustainable
design.
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Goals

• Create a center for the performing arts
• Demonstrate practical elements of green
• restoration
• Rehabilitate a historic building
• Make it a successful Tax Act project

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2 Basic Issues
Successful Theater
Platinum LEED Certification
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Issue 1
Achieve financial success to secure the future
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Box within a Box
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• World Class Theater Design
• Staging
• Sightlines
• Acoustics
• Multiple Venues

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NPS concern was maintaining a sense of interior
volume
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Issue 1 - Resolution

Resolved by extensive use of glass and
extraordinary effort to maintain sightlines.
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Particular Challenge of Designing the
Atrium Serve the Theater Meet the
Secretarys Standards
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Issue 2
To become the first project to achieve a Platinum
LEED Rating while using Federal Investment Tax
Credits
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Issue 2
LEED Certification required daylight and passive
air systems NPS was concerned with the visual
impacts on the exterior
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Issue 2 - Resolution
Located offices on top of the box with the roof
exposed Negotiated number and location of
skylights and vents Low profile skylights and
Equipment Painted to match roof
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First in the World
The project achieved a Platinum LEED rating, a
first for a historic building
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Before
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After
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Success
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John M. Tess President Heritage Consulting
Group 1120 NW Northrup Street Portland, Oregon
97209 877-228-0272 503-228-0272 jmtess_at_heritage-co
nsulting.com www.heritage-consulting.com
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