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#1 Financier of MA Brownfields Tax Credits 4 years running

MA Historic Tax Credits Facilitates Rehabilitation of 1850’s Building

March 23, 2011 - Bob Dorfman, president of Dorfman Capital, announced the completion of a Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of East Mill, the former Davis & Furber machine shop complex in North Andover, MA. RCG LLC, the developer of the building, specializes in creating out-of-the-ordinary and environmentally friendly places to live and work at reasonable prices.

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Massachusetts Brownfields Tax Credits

The Commonwealth of Massachusetts first created the Brownfields tax credit in 1998 and amended the legislation in 2006 to allow the credits to be transferred, sold or assigned. This credit provides an incentive to developers to cleanup qualifying sites in the form of tax credits useable against Massachusetts income tax. Both for-profit and not-for-profit developers are eligible to receive the credit and generally sell the credit to third parties. Purchase of the credits affords its investors an opportunity to save on state taxes, while supporting environmental cleanups in the state.

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