Incentive Class

Shoes

Finding Growth when Economies Falter

In uncertain economic times, reducing costs associated with company expansions, consolidations, or relocations can mean the difference between survival and prosperity. Sustaining the growth of your enterprise may depend on innovative applications of the regulatory advantages that accompany investment in re-emerging localities.

Breadth of Experience

Siegel & Callahan possesses the acumen and experience to navigate successfully the matrix of regulatory compliance and municipal support required for favorable treatment under incentive guidelines. Our representations span the spectrum of incentive classification, including:

  • industrial,
  • commercial,
  • multi-unit residential,
  • historic renovations, and
  • affordable housing.

Protecting Your Advantage When Regulations Change

Market studies of incentive class properties have shown that the assessments for those properties trend higher in comparison with proximal non-incentive assets. Because incentive class properties are economic outliers, narrower markets reduce the certainty that assessing authorities have appropriately valued these properties.

Recently, in Cook County Illinois, when Class 3 and Class 9 multi-unit residential properties were collapsed into a single assessment level, taxpayers questioned whether there was any remaining advantage to the incentive class to offset the associated restrictions and reporting obligations.

Our layered understanding of this subcategory of the assessment practice enables us to identify for our clients the expanded expense ratios and higher cap rates that appropriately express the costs and risks embraced by taxpayers that give the incentive class enduring value.

Our adjacent concentrations in IRC § 42 Low-Income Housing Tax Credit affordable properties and the IRC § 47 Historic Tax Credit programs gives us a unique edge in securing equitable treatment for incentive clients.

Advisory at Every Phase of Development

Strict “but for” requirements fundamental to this class can defeat developments that fail to demonstrate true need. Our team of lawyers and real estate professionals partner with you at every phase of your project, including:

  • site selection,
  • planning,
  • funding,
  • closing, and
  • aldermanic support.