A.C.T. and Mayor Ed Lee Break Ground on Strand Theater in San Francisco's Central Market
About New Markets Tax Credits
New Markets Tax Credits (NMTC) were established by Congress in 2000 to encourage the investment of private capital in designated low-income communities in order to create jobs, generate economic activity and improve the quality of services in low-income communities and to low-income persons. NMTCs attract investment capital to low-income communities by permitting individual and corporate investors to receive a 39 percent tax credit against their federal income tax return over a period of seven years in exchange for making qualified equity investments in specialized financial institutions called Community Development Entities (CDEs). In turn, CDEs provide below-market financing to transformative development projects in low-income communities across the country. For more information, visit www.cdfifund.gov.
About American Conservatory Theater
American Conservatory Theater nurtures the art of live theater through Dynamic Productions, intensive actor training in its conservatory, and an ongoing engagement with its community. Under the leadership of Artistic Director Carey Perloff and Executive Director Ellen Richard, A.C.T. embraces its responsibility to conserve, renew, and reinvent the rich theatrical traditions that are our collective legacy, while exploring new artistic forms and new communities. A commitment to the highest standards informs every aspect of A.C.T.'s creative work. For more information about A.C.T., go to www.act-sf.org.
About Skidmore Owings & Merrill LLP
SOM is one of the leading architecture, interior design, engineering, and urban-planning firms in the world, with a 75-year reputation for design excellence and a portfolio that includes some of the most important architectural accomplishments of the 20th and 21st centuries. Since its inception, SOM has been a longstanding and award-winning leader in the research and development of specialized technologies and innovative ideas. The American Institute of Architects has recognized SOM twice with its highest honor, the Architecture Firm Award-in 1962 and again in 1996. The firm maintains offices in New York, Chicago, San Francisco, Los Angeles, Washington, D.C., London, Hong Kong, Shanghai and Abu Dabi.