Cohousing-L Mailing List: Re: Anyone use tax credits during development?

[Larry Miller (larry.miller]

Does anyone out there have any experience with using tax credits during
development? I am particularly interested in communities that have
experience with solar tax credits, which is a relatively newer program.

Oak Creek Commons made use of the Federal Tax credit for solar in 2007, the 
year we turned on
our solar system. This was not done, however, during development, but it could 
have been.
California also had a direct rebate on part of the system cost.

The Federal credit is for 30% of the system cost, but is limited to $2,000 for 
homeowners. As a
non-profit, the tax credit did not benefit the association, but we found that 
you could pass it
through to the owners, each of which owns an equal share of the system. We also 
allowed members
to invest in the system which is connected to the single common area meter. We 
credit members
their proportional share of the community electricity savings against their 
dues.

At one time, the Federal tax credit was due to expire at the end of 2007. You 
should check
whether it has been extended.

Larry Miller
Oak Creek Commons