IndustriesReal EstateMeasurable Results
The accounting team at SVA discovered a Real Estate Developer had made a duplicate bond payment for $102,000 to their general contractor. The thorough work SVA’s Real Estate group did resulted in the duplicate payment being applied to the balance of the project ensuring the total cost did not exceed the original stated in the contract.
SVA’s review resulted in $144,573 more in federal certified historic tax credits and $12,580 more in state certified historic tax credits. The historic property will generate additional equity of $40,000 for the developer.