WVON - Midway Broadcasting
WVON was outgrowing its headquarters and needed a larger space. Though the company had identified a new site, the building needed substantial rehabilitation which was a costly prospect.
To make the project viable, CCV helped WVON obtain a Commercial Revitalization Deduction (a special tax deduction for rehab projects in federal Renewal Communities) that allowed the company to deduct half of its ‘Commercial Revitalization Expenses’ for the project.
This deduction accelerated the building’s depreciation schedule and saved the company nearly $3 million in taxes.