Sunflower Development Group | Incentives
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Incentives

The high cost of urban infill development, Brownfield sites and/or historic renovations simply make some projects infeasible without the help of incentives.

Historic Tax Credits

Sunflower Development has been involved in eighteen different historic preservation projects. The projects have ranged from a six unit colonnade style apartment to a 21 story conversion of a mid-century modern building in downtown Kansas City. SDG has raised nearly $50 million in Historic Tax Credits since its inception.

Low Income Housing Tax Credits

The Low Income Housing Tax Credit Program was created by Congress in 1986 to encourage development of safe, decent and affordable housing. In 2016, Sunflower Development Group utilized a 4% LIHTC award to convert the historic Faxon School into 48 units of affordable senior housing. The award winning development turned a once blighted structure into a neighborhood amenity which has helped to stabilize the Squire Park Neighborhood.

New Markets Tax Credits

 The New Market Tax Credit was authorized in 2000 as a bipartisan collaboration to increase capital into distressed urban and rural areas to create jobs. The NMTC can provide roughly 20% equity to a project in order to close a financing gap. Sunflower Development has expertise in all areas of NMTCs including project evaluation, financial structuring, marketing, securitization, compliance and syndication. SDG has secured and closed over $60 million in NMTCs for our clients since 2016.

Other Incentives and Financial Resources

Sunflower Development has used an array of local incentives in order to close financing gaps on difficult development projects. There are a number of tax abatement programs with their own individual nuances. SDG is well versed in the process of applying for numerous tax abatements including Land Clearance Redevelopment Authority (LCRA), Chapter 353, Chapter 100 Bonds, Port Authority and Planned Industrial Expansion Authority (PIEA).  SDG has additional experience in the Brownfield Revolving Loan Fund, Section 108 Financing, HOME Funds, Tax Incremental Financing (TIF), HUD 223(d)(4).