Livermore Falls project gets nearly $1M tax credit
Wiscasset-based CEI Capital Management announced that in its latest round of federal tax credit allocations, $960,000 of a total $63 million awarded is staying in Maine.
The $960,000 allocation will go to a project in downtown Livermore Falls, renovating the "Lamb Block" building into a new medical center built through a partnership with HealthReach that is expected to create 25 jobs, according to a press release.
This latest round of tax credit allocations disbursed by CEI also includes $20 million to an Alabama company to construct a new wood pellet manufacturing plant and $42 million to fund 21 different home-building projects with Habitat for Humanity in various states.
The tax credits total 39% of the original project investment and are claimed by developers over a period of seven years.
CEI reported that several other tax credit allocations are under consideration for 2012 in Maine and elsewhere in the country.
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