Independent Record: Tax credit incentive benefits Helena again

Helena once again benefitted from a statewide tax credit incentive program when development began on the new law offices of Browning, Kaleczyc, Berry & Hoven, P.C. in the “Gateway Neighborhood” earlier this year.

The Capital City becomes the first in the state to have two buildings that use the New Markets Tax Credit financing from the Montana Community Development Corp. in Missoula, following the completion of the $9.4 million Capital City Health Club in April.

BKBH’s nearly 31,000-square-foot building at 800 N. Last Chance Gulch will cost roughly $7.5 million to complete and is considered a key component of Helena’s downtown revitalization efforts. Construction is expected to be completed in May of 2012.

“From my perspective, the communities in this state that really get after it and get it done are ones where the local community leaders, banks and ultimately the developers are working on the same team,” said Dave Glaser, president of MCDC. “In Helena, you see that. People are working in concert to get that done.”

Dick Anderson Construction and Valley Bank of Helena were involved in both projects. For the new law offices, they also worked in partnership with Pioneer Block, LLC, and two of Valley Bank’s affiliates: First Bank of Wyoming and First Bank of Montana, both equity investors.

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