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Dorfman Capital Facilitates Rehabilitation of 1883 Building With Massachusetts Historic Tax Credits

Springfield, MA (PRWEB) April 17, 2008 -- Bob Dorfman, president of Dorfman Capital, announced the completion of a 20% Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of The Stately Temple House, 265 State Street, in Springfield, MA. The building, originally built in 1883, with additions built in 1893 and 1910, is the winner of the Springfield Preservation Award. It has been fully restored into an office building, which serves as the headquarters of the law firm, Denner Pellegrino, LLP. The developer of the building is Stately Temple, LLC and Attorney Raipher Pellegrino.

The building was originally built by James Kirkham, formerly President of the First National Bank, Springfield. It is part of the Lower Maple Historic District which consists of about 50 Victorian and pre-Victorian buildings. The building is listed on the National Register of Historic Buildings.

Owners of properties listed in the National Register may be eligible for a 20% federal investment tax credit and state historic tax credits for the certified rehabilitation of income-producing certified historic structures such as commercial, industrial, or rental residential buildings.

About Dorfman Capital

Dorfman Capital specializes in accessing low cost debt and equity capital for successful real estate developers and corporations through innovative finance programs. Dorfman Capital works with entrepreneurs and investors for business expansion and historic preservation to create economically and environmentally healthy communities so that people can reach their full potential. Areas of expertise are government guaranteed financing, tax exempt and taxable debt financing, venture capital and tax credit financing.

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