Cherrytree teamed with a respected local developer to create a fund which invested in three new utility-scale solar power facilities — including the largest solar array in New Hampshire. The fund allowed individual investors to obtain Federal tax credits which they may use to their own tax planning advantage.
Cherrytree arranged the funding and tax credit acquisition for re-development of a 100-year-old building which has served as a post office, courthouse and government office building. Listed on the National Register of Historic Places, the structure now benefits the community as a mixed-use building.
Tax credits totaling $2.4 million and pre-development funding of $900,000 were arranged by Cherrytree for the renovation of a former high school in Shelbyville, Indiana. The building contains 49 apartments designated for low-income families and individuals and is one of the first “Opportunity Zone” redevelopment projects in the nation.
A classic Greek Revival building was converted into studio apartments providing supportive housing for individuals who have completed rehabilitation treatment programs. The team at Cherrytree formed the equity partnership which funded the project and successfully secured tax credits for investors.