Irvine Byrne Building â€” Los Angeles, CA
Historic Tax Credit Consultant
Project Name: Irvine Byrne Building
Project Description: Adaptive Reuse of a local Historic Landmark and contributor to a National Register historic district. Currently vacant on the upper floors, the building will be completely rehabilitated and transformed into 40 loft apartments applying the Secretary of Interior Standards for compliance with:
- 20% historic tax credit certification
- Local Landmark review
Scope of Service:
- Identify and facilitate project construction, permanent, and mezzanine financing. Identify any financing gaps and determine the amount of funds needed from historic tax credits and other financial incentives.
- Review pro forma prepared by the development team to determine if the total projects costs are in line.
- Ongoing management of all financial incentives to monitor performance and delivery.
- Facilitate the preservation team, including the historic consultant for compliance with the historic tax credit criteria with the State and Federal agencies. Manage compliance process with the SHPO, NPS, and local historic review.
- Facilitate and negotiate with tax credit partners, accounting and legal counsel.
- Review and monitor compliance of Secretary of Interior Standards for tax credit investors and lenders.
- Provide a link to the preservation community to assist with solving problems, answering questions, gaining project support, and finding funding solutions from within the preservation real estate community.