In The News

May 3, 2021

Carbon Sequestration Tax Credits: Section 45Q

When the Bipartisan Budget Act of 2018 was passed into law, it expanded the §45Q2 tax credit, an important federal incentive encouraging private investment in the development and use of carbon capture technologies and facilities. Tax credits for the capture and long-term, permanent storage of carbon oxides are intended to generate a competitive financial return and have a positive environmental impact.

April 23, 2021

Wall Street's Trillion-Dollar ESG Club Comes With Huge Tax Perks

Bank of America Corp. sparked a stir in January—and a little envy—with just a few lines of disclosure in its fourth-quarter earnings report. The lender revealed it had slashed its 2020 corporate tax rate to 5.8% from what would have been 21%, thanks to finance work involving environmental, social and governance projects. That didn’t go unnoticed by Bank of America’s competitors. Executives at one large regional bank saw it, and talked to Bryen Alperin, director of renewable energy for tax specialist Foss & Company.

April 15, 2021

Tax equity finance for portfolio

Summit Ridge Energy said it secured a $55 million tax equity commitment from investment manager Foss & Company. The partnership will fund a roughly 73 MW portfolio of residential and commercial community solar projects across Illinois, Maryland, and Maine.

April 15, 2021

Summit Ridge strikes tax equity partnership for 73 MW of community solar

US community solar projects specialist Summit Ridge Energy LLC said it has formed a partnership with investment manager Foss & Company Inc to fund residential and commercial solar projects totalling some 73 MW in direct current.

April 14, 2021

Solar Leader Summit Ridge Energy Announces Tax Equity Partnership with Foss & Company

Summit Ridge Energy announced that it has secured a $55 million tax equity commitment from investment manager Foss & Company. The partnership will fund approximately 73 MWdc portfolio of residential and commercial community solar projects across Illinois, Maryland and Maine.

April 5, 2021

Revitalization Effort in Historic District Supports Rehabilitation of Old Wooden Mill

Foss & Company helps fund project in the city of Thomasville, North Carolina, as the tax credit purchasers. The mill has been restored and renovated into one- and two-bedroom apartment homes with 27 different layouts, conforming to that of the mill itself.

March 16, 2021

$42 million project underway to convert 12-story historic building in downtown Richmond into apartments

Construction is underway to convert a 12-story office building in downtown Richmond into 188 apartments. The $42 million project will entail completely renovating the interior of the building at 629 E. Main St. The project is getting federal historic tax credit equity from PNC Bank and state historic tax credit equity and a bridge loan from Foss & Company.

December 17, 2020

Historic Babcock Building in Columbia to be rebuilt after fire

The Babcock Building, a Foss South Carolina Fund project, will be rebuilt following a recent fire. The historic building will be renovated into 208 one-, two- and three-bedroom apartments on the Columbia skyline.

December 1, 2020

NMTCs, HTCs Help Ongoing Transformation of Historic South Carolina Textile Mill

A former textile mill in Greenville, S.C., is being transformed into an 800,000-square-foot multiuse campus in a multiphase development financed with new markets tax credit (NMTC) and historic tax credit (HTC) equity.

November 16, 2020

First Look: Inside Optimist Hall

Optimist Hall, a transformative mixed-use development just outside Uptown in the Optimist Park neighborhood, will officially open on Thursday, August 1.

February 9, 2020

Grey Mill Apartments, North Carolina

Rehabbed Grey Mill Apartments draw high praise at open house in Hendersonville.

July 3, 2019

A Massive Redevelopment Project in a High Profile Site in St Louis' Midtown Area is on Track to Open in 2020

Foss & Co acted as the investor for the project’s $20 million of Federal Historic Tax Credits, $24 million of MO State Historic Tax Credits, and provided a $29 million bridge loan.

January 25, 2019

City Foundry STL

City Foundry STL is the adaptive reuse of the former 15-acre Century Electric Foundry complex in St. Louis. The iconic and historically significant foundry building will be transformed into a dynamic hub of innovation complete with St. Louis’ first true food hall, a curated retail & entertainment experience, and creative offices infused with historic industrial architecture.

February 8, 2018

Historic Bailey Power Plant Opens in the Innovation Quarter

The opening of the Bailey Power Plant, a 111,479 square foot historic building redeveloped into innovation, office, entertainment, retail, and congregation space, located in downtown Winston-Salem, was announced today.

December 29, 2017

How Does the Tax Reform Bill Affect the Value of the HTC?

The 10 percent non-historic tax credit is history under the recently passed tax reform act, but perhaps more significant to those in the historic preservation world, the 20 percent historic tax credit (HTC) was retained and altered.

September 26, 2017

Reimagine Revolution Mill

Revolution Mill has been reimagined for a new Greensboro. Come discover restaurants, office space, apartments, and events.

July 7, 2017

Gibbs: Tax Credits Helping to Rebuild Downtown Canton

U.S. Rep. Bob Gibbs, R-Lakeville, spent two hours walking through the Historic Onesto Hotel and Event Center, the adjoining Bliss Lofts, and the former Hercules Engine Company site. Developer Steve Coon gave the congressman a tour of his downtown apartment.

June 22, 2017

Halle Building Closes Foss Ohio 2018 Fund

The Foss Ohio 2018 Fund is acting as the state credit investor in Cleveland’s Halle Building Renovation. Foss Bridge Credit will also be providing bridge financing.

Jun 15, 2017

First Look: Inside Natty Greene's Kitchen + Market At Revolution Mill

Kayne Fisher has coined a signature description for Natty Greene’s Kitchen + Market, which he hopes to open in the third week of July at Revolution Mill in Greensboro.

January 16, 2016

Two New Hotels Opening in Former Office Tower on Main Street, Foss Virginia 2015 Fund

Neil Amin is making his mark on the downtown Richmond hotel scene this week. His Shamin Hotels, the region’s largest hotel operator, is opening two hotels in a 19-story former office tower at 700 E. Main St. that will soon include a rooftop bar/restaurant and fitness center.

May 29, 2015

The Foss N.C. Mill Credit Fund/Chapel Hill

The Foss N.C. Mill Credit Fund is acting as the mill credit investor and bridge lender on the redevelopment of the Chatham Mill. The project entails the conversion of a 250,000 square foot former mill into 166 units of workforce housing.

November 24, 2014

Goodyear Hall Project - Foss Ohio 2015 Fund

The Foss Ohio 2015 Fund is acting as the state credit investor in Akron’s East End Development Project. This project plans to rejuvenate the former Goodyear Headquarters and Goodyear Hall on East Market Street. The development will create a livable neighborhood complete with restaurants, shopping, a 1,500 seat theater and luxury apartments.

November 11, 2014

With Faith of Investors, Downtown Tulsa Reawakens

… Energized by a rejuvenated oil and gas industry, along with a one-cent sales tax increase in 2003 and a downtown property assessment a few years later, investors have injected about $930 million into the central business district over nearly 10 years, according to the Tulsa Regional Chamber.

October 1, 2014

Rise of the 9 - Foss Ohio 2014 Fund

Revival at East 9th & Euclid continues with The Geis Companies’ new ‘urban resort’

September 1, 2014

Update on Wake Forest Innovation Quarter

WINSTON-SALEM, N.C. – WINDOWS TO A NEW WORLD. It’s one of the fastest-growing research parks in the country and the focal point of Winston-Salem’s future. Come along to see why Wake Forest Innovation Quarter is abuzz with ideas, inventions, and hope.

January 9, 2014

History In The Remaking Gastonia Mill Known For Bloody Labor Strike Reborn As Apartment

The site of a bloody and controversial 1929 labor strike in Gaston County is set to start a second life, as developers revitalize an abandoned mill in west Gastonia.

November 19, 2013

Increased development at Wake Forest Innovation Quarter

In all the talk about urban redevelopment in the Piedmont Triad, nothing stands out quite like what’s happening in downtown Winston-Salem. It goes back about 15 years ago when the Wake Forest Baptist Medical Center began developing an area of east downtown which it called the “Piedmont Triad Research Park.”

May 1, 2012

Tobacco Factory Reborn As Biotech Center

Everyone involved with Wake Forest Biotech Place hopes that one day projects in Winston-Salem, N.C.’s Piedmont Triad Research Park (PTRP) will no longer qualify for new markets tax credit (NMTC) financing. The goal is that Wake Forest Baptist Medical Center’s new biotechnology research and innovation center will stimulate more investment in science and technology enterprises and supporting businesses, and that with enough investment, the area will no longer qualify as economically distressed.

June 4, 2010

Wexford, PTRP Agree To Downtown Project

A downtown economic-development project that has been planned for three years — and hoped for over the course of more than 16 years — is finally moving forward. Officials with the Piedmont Triad Research Park said they have reached an agreement with Wexford Science and Technology LLC of Baltimore on an $87 million project for the North District. A formal announcement, which will involve Gov. Bev Perdue, is set for 11 a.m. today.

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