We provide sophisticated advice and handle transactions and litigation on behalf of property owners, users, developers, lenders, and investors in commercial, office, residential, and mixed-use projects in the Washington, D.C. metropolitan area. We also represent investors, lenders, and borrowers in various real estate financing projects, and serve as general counsel to a number of real estate ventures. We have broad experience negotiating and drafting property acquisition, disposition, and lease agreements for our clients.
Conservation, open-space easement and tax credits
Both the federal and Virginia state law contain provisions encouraging the preservation of open space and the rehabilitation of historic structures through significant tax incentives. Property owners, including non-profit organizations, can obtain tax benefits by placing conservation easements across their property and by engaging in qualified historic rehabilitation projects.
The Virginia real estate attorneys of The Clark Law Firm have the experience to help you, your business, or nonprofit through the creation of a conservation or an open-space easement, as well as the creation of Virginia tax credits.
A conservation easement is a binding agreement between a property owner and a specialized non-profit entity that permanently limits the development rights associated with the property. Qualifying Virginia or Federal historic rehabilitation projects help preserve Virginia’s unique architectural heritage by restoring properties identified on the Virginia or Federal Landmarks Register.
Negotiating the donation of conservation easements and structuring the rehabilitation of historic buildings to qualify for special tax incentives are complex and technical challenges. But the results can be very financially rewarding, and in many cases, create a logical and practical alternative to traditional property development or redevelopment. A key factor in securing these financial benefits is the ability to transfer the Virginia tax credits generated by a qualifying easement or rehabilitation project on favorable terms.
Our conservation easement lawyers have successfully negotiated the perpetual protection of hundreds of acres of precious Virginia countryside, generating millions of dollars in highly valuable tax credit for our clients. Our historic rehabilitation lawyers have helped restore and protect some of Virginia’s most important landmarks, creating substantial tax credits that will help keep these properties open and accessible to the public for future generations.
In addition, our tax credit lawyers have successfully handled the sale of tens of millions of dollars in conservation tax credits and have structured numerous highly–sophisticated Virginia and Federal transactions that have allowed even tax-exempt clients to realize substantial cash proceeds from their historic rehabilitation tax credits. Because of our experience in dealing with non-profit entities, our lawyers are uniquely qualified to help our clients navigate the special considerations that arise when a 501(c)(3) charity or other tax-exempt organization considers a conservation easement or historic rehabilitation project.
If your business is about to begin a construction project, you are going to be devoting a large amount of time and money to an endeavor that may risk the future of your business.
Any time you begin a construction project, there are real estate questions. From acquiring property for development of a design/build project to expanding a plant on an existing site, there are many interrelated zoning, building code, and bonding issues that need to be addressed simultaneously. A dispute regarding any of these critical requirements can cost you money and valuable time. When such issues do arise, we work to resolve them quickly. We want to keep them from turning into larger issues that could halt your construction project and cost you more time and money.
To put our experience to work for you, contact the Virginia real estate lawyers at The Clark Law Firm today. You can schedule a meeting online, or simply call us at (703) 443-0001.