To:
From: p i ip cn asi
Sent Wed 3/6/2013 8:52:42 PM
Subject: HISTORIC TAX Credit
Fro
Sublje
lMniredit
Date: Wed, 6 Mar 2013 15:22:43 -0500
Leslie; On my Long Branch,NJ condo and rental project, approx. $500,000 in Historic Tax
Credits will be generated. I will transfer ALL of these tax credits for $1 dollar to someone who
loans my project $800,000 @ 8% interest for 6 years, subordinate to a construction loan. For
example, if they owe $500,000 in Federal taxes, than with this $500,000 Historic Tax Credit, their
Federal tax owed is reduced to $0, plus they get an 8% return on their principle for 6 years. The 6
year period is to avoid any IRS recapture provisions.
If your clients need this write-off, I can be reached at
Thank you,
Philip G. Crifasi, Jr.
EFTA_R1_00802959
EFTA02145613