Kimpton%20Hotels%20

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Kimpton Hotels Restaurants

• Hotel Development Historic Tax Credits

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Kimpton Hotels Restaurants

• Kimpton is the largest owner, operator and
  developer in the boutique segment
• Experienced in-house design and construction team
  
• Proven ability to profitably operate unique,
  high-volume chef-driven restaurants
• Growing brand recognition and loyalty
• Strong culture of innovation, service, and care
  for the environment

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Kimpton Hotels Restaurants
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Historic Tax Credit Development
They stepped in where others had given up hope,
turning white elephants into magnificent gems.
With preservation at the core of its corporate
strategy, Kimpton is a model for the private
sector -Richard Moe,
President, National Trust for Historic
Preservation

• 16 historic tax credit projects
• Over 50 million in tax credits generated
• Every Hotel Tells a Story

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Hotel Argonaut, San Francisco, CA
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Hotel Argonaut, San Francisco, CA
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Hotel Argonaut, San Francisco, CA
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Hotel Monaco, Washington, D.C.
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Hotel Monaco, Washington, D.C.
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Hotel Monaco, Washington, D.C.
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Keys to Success

• Be flexible and creative with programming
• Work within historic restrictions
• Be prepared for environmental risks and issues
• Public private partnership

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Hotel Palomar - Philadelphia, PA

• Conversion of the Architects Building, an
  existing office building, into a Hotel Palomar
• Located at 117 S. 17th St. in downtown
  Philadelphia, proximate to Rittenhouse Square
• 230-room Hotel, including 19 suites
• 120-seat signature restaurant
• 6,500 SF of meeting space, including a 2,100 SF
  ballroom located on the on the 24th floor
• LEED certified
• Demolition began in Q1 2008 with full scale
  construction in Q2 2008

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Tax Credit Structure
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Tax Credit Syndication

• Choose your consultants and advisors wisely
• Choose a lender that has experience with tax
  credits and make sure their lawyers do as well
• If possible, design your basic equity and
  management development fee structure with the
  tax credit structure in mind
• Become an expert on the details of the models and
  the legal documents
• Consider local tax issues transfer taxes,
  business privilege taxes, etc.
• Evaluate reportable transaction implications

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