Plymouth Soundings was formed in 2002 when Darlene Smolik was contracted to be the Project Coordinator for the restoration and rehabilitation of the Tennessee Theatre in Knoxville, TN. Reporting directly to the Board of Directors for 3 years, she was charged with oversight and coordination of all aspects of this $31.5 MM project. This Historic Rehabilitation of a 1928 theatre provided valuable experience in planning and design and construction challenges in historic rehabilitations. This project also provided intensive experience in “twinning” Historic Rehabilitation Tax Credits and New Markets Tax Credits. This was the first nonprofit owner project to be financed by the National Trust for Historic Preservation using this “twinning process.” This experience, combined with a background in both the public sector and in industry, uniquely positions Plymouth Soundings to meet the needs of its Tax Credit clients.
Plymouth Soundings is actively involved in various stages of coordinating historic rehabilitations and new construction that involve Federal and State Historic and New Markets Tax Credits. While most of these are Performing Arts Centers, capability exists and has been used for assistance with other nonprofit and commercial applications. Total cost of projects, both completed and in process, is approximately $225 Million, with Historic Tax Credit Equity of over $40 Million and New Markets Tax Credit Equity of over $30 Million. Plymouth Soundings has been involved in all phases of project execution and subsequent operations compliance, tailoring services to the unique needs of each individual client. The proof of capability is evidenced by the results.
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Photo - Adler Theatre in Davenport, IA