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#1 Financier of MA Brownfields Tax Credits 8 years running

  • The Largest Successful Financier of Brownfields Tax Credits

    The Largest Successful Financier of Brownfields Tax Credits

  • The Largest Successful Financier of Brownfields Tax Credits

    The Largest Successful Financier of Brownfields Tax Credits

  • The Largest Successful Financier of Brownfields Tax Credits

    The Largest Successful Financier of Brownfields Tax Credits

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TRUSTED BY THE BIGGEST AND THE BEST

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LEADERS IN MASSACHUSETTS BROWNFIELDS TAX CREDITS

Economic Development Incentives, Inc. (EDI) is THE industry leader in guiding real estate owners, developers and investors through the process of qualifying for, receiving and monetizing tax credits associated with brownfields development in Massachusetts. With more than 125 completed projects representing over $210 million in tax credits originated and sold, we are expertly qualified to assist both for-profit and non-profit entities to receive the maximum benefits available.

EDI has serviced projects ranging in remediation costs from $100,000 to $30,000,000, including the largest Brownfields tax credit projects in the state of Massachusetts. Our commitment to the environment and the economy is an integral and driving force behind each transaction. We look forward to earning your trust on your next MA Brownfields Tax Credit transaction.

“EDI delivered extraordinary results. Their expertise and resourcefulness guided us masterfully through the process. They were a pleasure to work with.”- Eoin Fitzgerald, Director of Project Finance, Carpenter & Company, Inc. ONE DALTON, Boston, MA

“Urban construction projects, like ours at the Lynn Community Health Center, often run into unexpected, budget-breaking environmental clean-up expenses. Thankfully, Massachusetts Brownfields Tax Credits can provide funds that cover a portion of these expenses. We were so pleased to take advantage of EDI’s expertise in accessing this important, but complicated, funding. It made a very positive difference in our ability to finance a new building for the Lynn Community Health Center!” - Lori Berry, Executive Director, Lynn Community Health Center

 

WHY WORK WITH US?

EDI has a deep and demonstrated understanding of the MA Brownfields Tax Credit program. As the leaders in MA brownfields tax credit financing, our clients benefit from years of experience and thorough knowledge of every aspect of this complex process.

  • Maximize the amount of credits obtained
  • Streamline the application and approval process
  • Secure competitive pricing for monetization of tax credits
  • Utilize a user friendly documentation process
  • Expedited closing

The principals of EDI are Hal Davis and Bob Dorfman. They bring a unique blend of legal, finance and economic development experience having structured and raised in excess of $1 billion of financing. 

  • "We rely on EDI to bring us the biggest and best brownfields projects in the state, and they deliver. They are by far our leading source of MA Brownfields Tax Credits.”

    International Financial Institution

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Community Leadership

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Created: Friday, 07 October 2011 20:06
Written by nellian

Our corporate purpose at Dorfman Capital is to empower people to mobilize and take full advantage of their opportunities and encouraging them to reach their full potential.  We work with organizations committed to creating economically and environmentally healthy communities.

Dorfman Capital contributes to the three schools that provided the educational foundation for Bob’s life.

The thematic seed planted in Bob from each school is as follows:

schools-1 schools-2 schools-3

These themes have led Bob to a life long pursuit in what can be summarized by the book title How to Change the World – Social Entrepreneurs and the Power of New Ideas.Its author David Bornstein states, "What business entrepreneurs are to the economy, social entrepreneurs are to social change. They are the driven, creative individuals who question the status quo, exploit new opportunities, refuse to give up, and remake the world for the better.”

Dorfman Capital takes great pride in providing financing for the following social entrepreneurial companies that focus on serving people at risk, affordable housing, performing arts or the environment including:

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community-13 community-14 community-15 community-16

 

 

LEADERS IN MASSACHUSETTS BROWNFIELDS TAX CREDITS

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Created: Friday, 07 October 2011 15:48
Written by Super User

ABOUT US

The most effective agents for acquiring and closing MA Brownfields Tax Credit transactions, EDI is trusted by Fortune 500 companies, banks, insurance companies, real estate developers, community organizations, individuals and neighborhood coalitions.  Native to Massachusetts and deeply committed to economic and environmental integrity, we continue to prove our value with each transaction.

We have serviced projects ranging in remediation costs from $100,000 to $30,000,000, including the largest Brownfields tax credit projects in the state of Massachusetts.

The principals of EDI Hal Davis and Bob Dorfman, bring a powerful blend of legal, financial and economic development experience to their clients, having structured and raised in excess of $1 billion in financing. Qualified experts in MA Brownfields Tax Credit finance, we at EDI look forward to assisting you in your next transaction.

In 2009, EDI was established as a joint venture between New England Economic Development (NEED), which was established in 2002, and Dorfman Capital, which was established in 1990. EDI serves real estate investors who develop brownfield sites and are thus eligible to apply for MA Brownfields tax credits. EDI has qualified more than 125 projects for MA Brownfields Tax Credits resulting in over $210 million of tax credits originated and sold.

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Harold DavisHarold R. Davis, President of EDI, has worked in various aspects of economic development for over thirty years. He was employed as the first economic development director for the South Shore Chamber of Commerce located in Quincy, MA. He has recently assisted the Town of Plymouth, Massachusetts to establish a revitalized economic development program through the creation of a public/private foundation.

As an attorney, Hal has acted as bond counsel for several hundred tax-exempt bond issues and established local development companies in several states. He has participated in over two hundred Small Business Administration loan transactions. In recognition of his services to small business, he received the Small Business Administration’s Community Development Award for New England. Mr. Davis is of Counsel to the Boston law firm of Davis, Malm & D’Agostine, P.C.

Acting on behalf of New England Economic Development (NEED), Hal currently represents Massachusetts’ communities, businesses and developers in projects utilizing the Massachusetts Economic Development Incentive Program. He also leads the company’s efforts in the field of special district finance.

Hal is a graduate of Bowdoin College and the Georgetown University Law Center and has been approved as a Certified Economic Developer by the American Economic Development Council.

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BobDorfmanBob Dorfman, CEO of EDI and President of Dorfman Capital, has a distinguished track record in structuring and closing innovative financing transactions. Since 1979, as both an agent and principal, Bob has completed approximately $1 billion in financing for corporations and real estate developers. He has committed himself to transforming communities to become economically and environmentally healthy by recycling real estate through brownfields development and historic reuse. 

Today Dorfman Capital is among the premier financiers of MA brownfields remediation projects, and has expanded to include Federal and State Tax Credits for Historic reuse, Low Income Housing, Solar and New Market Tax Credits.

Prior to forming Dorfman Capital, Bob worked as managing director of investment banking at Advest, Inc., a regional investment banking and brokerage firm; president of Dorfman Securities, Inc., an NASD broker dealer member; and managing partner of venture capital firm Crescent Capital Company, LLC.

A native of Worcester, MA, Bob earned his BA at Tufts University and an MBA at Boston University. After working in Boston for many years, he now serves his clients from Cotuit, on Cape Cod. Bob participates both as an instructor and participant in leading edge industry trainings.

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Miriam MerariMiriam Merari, Vice President of EDI, is responsible for identifying investors’ needs and working with developers to fulfill those capital stack needs. With a diverse business background as fundraiser, serial entrepreneur and business consultant, Miriam’s experience raising capital for critical projects is a vital contribution to EDI.

Miriam has been in the tax incentive industry since the early 1980s, initially raising tax credit equity for transportation equipment leasing partnerships and renewable energy wind farms. As Vice President of the largest transportation equipment  leasing companies in the U.S., Miriam was directly responsible for raising over one hundred million dollars in tax credit equity. She attended Bentley University, with additional studies in diverse areas of interest. Miriam is a certified yoga teacher, chef, world traveler and student of life.

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 The Beginning: The Warren Oil Story

 -1It was no accident that Bob Dorfman’s professional career would eventually include brownfields tax credit financing.

In 1932 Bob's grandfather, Leon Goldberg, founded the Warren Oil Company, a retail fuel distribution company. Located at 459 Southbridge Street in Worcester, MA, this real estate would become Bob’s first brownfields remediation project.

 
 
In 1950 Leon’s son-in-law and Bob’s father, Sidney Dorfman, joined the company and would later establish the Home Oil Company, the first discount fuel oil company servicing Worcester County.  “Sid The Oil Man” became the company’s trademark.
As a boy in the 1960’s Bob worked Christmas Eves delivering oil with Sid when company drivers were not available.  In those days Bob learned how to collect and count money. Bob developed into the company’s star salesman during his college years before entering into the world of finance.
Over a 10 year period from the mid 1980’s to the mid 1990’s environmental standards and regulations became strict and 459 Southbridge Street was subject to the new Massachusetts Department of Environmental Protection regulations.  A major cleanup was required and implemented.  By then Bob was established in his career in finance and, along with Sidney, managed the cleanup project.
459 Southbridge Street was Bob’s first brownfields remediation project. While neither Sidney nor Bob could have predicted it at that time, this experience was the foundation for Dorfman Capital’s expertise and interest in the brownfields tax credit finance business. 
Today Dorfman Capital is among the premier financiers of MA brownfields remediation projects (MA BTC's), and has expanded to include Federal and State Tax Credits for Historic reuse (HTC), Low Income Housing (LIHTC), Film, Energy (ITC), New Market Tax Credits (NMTC) and many more.