|Highrise developer reveals new funding issue|
|Tuesday, 11 December 2012 12:35|
He said they still have not received their funds from the federal tax credits program, which make up a big portion of the project's funding.
Shafai says there have been numerous projects across the U.S. that have used the federal tax credits, including one right here in South Dakota.
Shafai says, "Shannon County School District has utilized them just last year, and it was a very successful process, and it was used for the things that are intended for that type of funding, which is really helpful."
Shafai says groundbreaking on the multi-use highrise cannot begin until the new market tax credits are secured, which he estimates will happen this coming spring.