April 4, 2012 - Boston, MA: Bob Dorfman, president of Dorfman Capital, announced the completion of the sale of federal historic tax credits associated with MyWebGrocer and the Champlain Mill in Winooski, Vermont.
The Champlain Mill is listed on the National Register of Historic Places, and is a member of Winooski Falls—an award winning, smart growth, NewUrbanistneighborhood recognized nationally for its innovative approach to community development. Built in 1910 and powered by the Winooski River, the Champlain Mill was at the center of life in Winooski for over a century until falling in disrepair in 1954.
Champlain Mill is now home to a new generation of entrepreneurial innovators. MyWebGrocers, which has purchased the historic building, will be doing significant renovations. The company drives digital connections between consumers, grocery retailers, and Consumer Packaged Goods brands. They will be utilizing the 5th floor as their company headquarters.
Company CFO Jerry Tarrant is extremely pleased with his association with Dorfman Capital. “When we began the project, I spoke with many different sources of capital as we couldn’t do the project without tax credits. Dorfman Capital offered the best terms and was extremely efficient. I really enjoyed working with Bob Dorfman.”
The federal historic preservation tax credits reward private investment in rehabilitating historic properties such as offices, rental housing, and retail stores. Abandoned or under-used schools, warehouses, factories, churches, retail stores, apartments, hotels, houses, and offices in many cities have been brought back to life withouthaving to sacrifice their historic character. For more information, [email protected]
About Dorfman Capital?
Dorfman Capital specializes in the qualification and sale of tax credits for the redevelopment of brownfields and the preservation of historic buildings. These tax?
credits are an integral component of the financing for real estate redevelopment and reuse projects. Dorfman Capital has raised over $1 billion in capital for its clients.