James F. Clayborne, Jr. of Clayborne, Sabo and Wagner LLP was honored with the New Market Tax Credit State Legislator of the Year for 2015 at the Novogradac New Markets Tax Credit Spring Conference, June 11, 2015 in Washington, D.C. Each year one federal legislator, one state legislator and one public executive is honored for their “demonstrated substantial assistance in the advancement of the New Markets Tax Credit, policy and legislative priorities, and established impact on the field of community redevelopment. Mr. Clayborne received the award for his efforts to advance New Market Tax Credits in the State of Illinois.
The New Markets Tax Credit Program was established in 2000 as part of the federal Community Renewal Tax Relief Act of 2000. The goal of the program is to spur revitalization efforts of low-income and impoverished communities across the United States and Territories. The Program provides tax credit incentives to investors for equity investments in certified Community Development Entities, which invest in low-income communities.
Clayborne, Sabo and Wagner LLP attorneys are experienced in handling the legal issues unique to urban redevelopment projects.