Redevelopment of the iconic Argonaut Building in Detroit, Michigan at a project cost in excess of $150,000,000 through a multi-layered tax credit transaction involving State and Federal Historic Tax Credits, New Market Tax
Economic Development Services
A healthy economy is essential -- to individuals, to businesses and to communities.
In today’s increasingly fragile economic landscape, the new projects, jobs and revenues that come from innovation and development have never been more vital -- nor have they been more challenging to attain. Our goal is to help our clients navigate through these choppy waters to define their development objectives, identify opportunities for growth, achieve their goals and ultimately create the revenue and jobs that will help our businesses and communities continue to grow and prosper.
Clark Hill’s Economic Development Team plays a significant role for our clients by being instrumental in major economic development transactions. We have received national recognition for innovative financial structures, the ability to build bridges between business and government, and positive contributions to the communities we serve.
Clark Hill has a keen eye for the issues that may arise in economic development situations and the ability to develop innovative, project-specific solutions to those issues. We have a proven track record. Our team knows what it takes to secure favorable outcomes for all parties involved, and we know how to get the job done effectively, efficiently and with integrity.
With a depth and breadth of experience, valuable contacts among key industry and government players, and the ability to identify opportunities for our clients, Clark Hill offers a unique suite of services unmatched in the industry.
Represented a local municipality and economic development group in obtaining the first State of Illinois single community Redevelopment Authority with bonding authority of $200 million dollars
Represented investment group structure in the investment and assisted in raising $3,000,000 in capital to facilitate the acquisition of a community based financial institution
Represented commercial development client in the development of over 200,000 square feet of commercial retail strip centers located in the Chicago metropolitan area. Responsible for land acquisition, site planning/design; government entitlements; (zoning/incentives); analysis and procurement of project financing, and construction management. Utilized various economic development tools to improve profitability such as real estate tax rebates (class 8) and tax increment financing
Represented local municipality in the creation of a not for profit development entity to facilitate the development of a $500 million dollar comprehensive redevelopment plan to accommodate the acquisition and development of land for a multi carrier cargo development plan
Represented and counseled a not for profit developer in the establishment of a development joint venture in the construction of a 96 unit Section 42 federal tax credit low income senior housing facility
Represented development joint venture consisting of private equity firm and real estate developer for the development and construction of quick service restaurants throughout the United States