Tax Credit Syndication Services

The vendor is required to provide to obtain financial projection, tax structuring, and accounting services related to a state tax credit syndication contemplated by city for renovation of its properties commonly known as Chrysler Hall and scope arena (“projects”).
- Chrysler Hall:
• since its grand opening in 1972, Chrysler Hall has been the premier performing arts center of the Hampton roads region.
• During any given season, Chrysler Hall hosts acclaimed artists from every discipline such as major Broadway productions, classical concerts, contemporary performances, family theatre and comedy events.
• The overarching goal of the Chrysler Hall renovation is to modernize the facilities, transforming it into an iconic venue that represents the city as the undisputed leader of arts and culture in the region.
- Scope arena:
• Built in 1971, architect pier Luigi Nervi designed scope arena and to this day the venue remains the world’s largest reinforced thin-shell concrete dome.
• The venue’s concrete monolithic dome and twenty-four flying buttresses make it a popular, eye-catching and iconic landmark in downtown.
• Scope arena is the host to a wide variety of events and is currently home to the city admiral’s hockey team, the MEAC basketball tournament, conventions, concerts, family shows and much more.
• Scope consists of a flexible main arena, modular exhibit halls and meeting rooms that can accommodate both small and large groups for private meetings, exhibits or conventions.
- The city seeks includes, but is not limited to, the items listed below:
1. Consulting, advisory and program design services:
• Assist in developing the financial and tax structure for the transaction
• Assist the city and the projects’ advisors establish a reasonable method of reporting and capturing the projects’ costs
• Compile financial projections (sources and uses, operating cash flow, value of tax credits, etc.)  2. Department syndication services:
• Identify and introduce potential tax equity investors to purchase the tax credits
• Address and assist with investor questions or concerns regarding the tax credits
• Assist the city in negotiating with potential investor
• Monitor the flow of information between the city and tax credit investors.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: March 10, 2025