Gov. Assisted Programs
Historic Rehabilitation & Low Income Housing Tax Credits
Government Sponsored Developments
STEVEN IVY P.C. helps real estate developers, municipalities and individual investors to navigate the convoluted territory of government-supported real estate programs. The firm counsels clients on issues relating to Enterprise Development Zones and Tax Incremental Financing Districts. We assist our clients with projects supported by the U.S. Department of Housing and Urban Development (HUD) and historic rehabilitations.
Enterprise Zone Services
Under proper circumstances, and with legislative approval, states can create enterprise zones. Typically, an enterprise zone is a predefined geographic area in need of redevelopment. To entice interest from investors and developers, the state offers various incentives. From tax credits to interest deductions, enterprise zones could offer a variety of benefits. STEVEN IVY P.C. helps clients understand the limits of enterprises zones, its benefits and various applicable rules and regulations. If our clients choose to participate in enterprise zone developments, our firm can provide ongoing legal support, guiding them through the entire process.
The hallmark of our practice is personal service. We work closely with our clients to ensure that their interests are properly protected. STEVEN IVY P.C. is servicing clients in several Illinois counties, including: Cook County, Lake County, DuPage County, Kane County, DeKalb County, Will County, McHenry County and Kendall County. Our clients can meet with us in eight Illinois locations, including: Chicago, Lisle, Northbrook, Oak Brook, Rosemont, Saint Charles, Schaumburg, and Warrenville.
Public Housing Development
The U.S. Department of Housing and Urban Development established a public housing program to provide rental housing for low-income individuals and families. Businesses engaged in development of such housing can count on tax credits and other incentives. STEVEN IVY P.C. assists individual investors and real estate developers to participate in HUD-sponsored programs and developments. We also assist clients with issues related to preservation projects (LIHPRHA & ELIHPA), Section 8, Section 232, Section 236 and Section 221(d)(4). We offer real-world advice on all the pitfalls and benefits associated with HUD programs. Our clients can count on our efficient and flexible legal counsel, customized to accomplish our clients specific business objectives.
Historic Properties Rehabilitation Programs
Many states offer tax incentives for historic real estate rehabilitation projects. The federal government is also an active player in historic rehabilitation, accounting for 20% of tax credits distributed to treatment of historic properties. STEVEN IVY P.C. has an in-depth knowledge of various state and federal programs designed to support rehabilitation projects. We assist our clients with finding the best way to participate in such programs. We interpret applicable regulations, help our clients communicate and negotiated with various government entities, ensuring that our clients take full advantage of all the available incentives.