Rehabilitation is defined as changes to qualified facilities that are required to restore or modify the property, together with all appurtenances, to an economically efficient condition. The new investment in the rehabbed property must result
How long does it take for a county to reject a district?
Within 28 days of receiving a copy of the resolution establishing a district, the county could reject its establishment. If the county had an elected county executive, he or she could notify the local unit in writing of the rejection; otherwise, rejection would require a resolution passed by the county board of commissioners.
What is the new specific tax?
Generally speaking, it freezes the taxable value of the buildings at the level prior to rehabilitation. The taxable value of land and personal property would remain unchanged. The new specific tax would be an annual tax paid in the same manner as the property tax and, generally speaking, disbursed in the same manner.
Commercial Rehab Loans Lenders
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Commercial rehab loans and residential rehab financing
This program is for large or small construction bridge financing commercial mezzanine financing development or rehab scenarios. If you need commercial bridge rehab loans for construction to fix and flip apartments, senior care centers, hotels, shopping centers, rental property or investment property contact us today.