#United States #Syracuse #Foss & Company #Syracuse Public Safety #Historic Tax Credits

Revival of Syracuse Public Safety Complex

The Syracuse Public Safety Complex, a vital project in the heart of Syracuse, New York, is on the brink of transformation, thanks to the pivotal financing provided by Foss & Company. As an institutional investment leader, Foss is channeling both state and federal historic tax equity along with bridge loans to navigate this ambitious rehabilitation endeavor.

Project Overview

The ongoing project is set to rejuvenate the 102,200-square-foot facility into a modern hub for public safety operations. Scheduled for completion by early 2026, the revamped complex will become the headquarters for the Syracuse Fire Department and the Syracuse Police Department. This multifaceted facility will offer various spaces, including administrative offices, training rooms, and areas dedicated to public engagement.

Role of Historic Tax Credits

John Sorel from Foss emphasizes the remarkable efficacy of historic tax credits in revitalizing significant properties while fostering a positive impact within the community. “Historic tax credits are a powerful tool for breathing new life into significant properties, creating meaningful community impact,” he states. This project highlights how well-targeted tax equity financing can facilitate the revitalization of crucial community infrastructure, all while preserving the historical essence of urban landscapes.

Community Impact

With the planned upgrades, the Syracuse Public Safety Complex is anticipated to elevate emergency response operations and reinforce the architectural identity of Syracuse. It represents a crucial investment in essential services for the community, driven by a commitment to innovative financing solutions tailored for community-centric development.

Joe Gehm, one of the project’s developers, expresses enthusiasm about the collaboration with Foss. “Our team is honored to develop the new Public Safety Building for the Syracuse Police and Fire Departments. Our relationship with Foss spans nearly a half-dozen projects throughout Upstate New York, and we’re thrilled to work together again on such an impactful project for the Syracuse Community.”

About Foss & Company

Founded in 1983, Foss & Company has made significant strides as a national tax equity investor, boasting a diverse portfolio that surpasses $9 billion in tax equity instruments. The company has specialized in historic rehabilitation projects, renewable energy, and advanced energy production facilities. Known for its comprehensive advisory services, Foss equips partners to navigate the intricate landscape of tax equity investments. For more details about Foss & Company and its innovative tax credit opportunities, visit Foss & Company.

Conclusion

The Syracuse Public Safety Complex project continues to gain momentum as a prominent example of how financing can shape public infrastructure in cities. Through strategic use of historic tax credits and a dedicated partnership between developers and financial sponsors, this project is set to create a lasting legacy for the Syracuse community, enhancing safety and preserving history simultaneously.