News

CWM attorneys, Delphine Carnes and Harriet Reynolds, represented Norfolk Redevelopment and Housing Authority in the Monroe Building transaction

Posted on December 18, 2013
Posted in Transactions

This $9.7 million transaction utilized state and federal historic rehabilitation tax credits to renovate the hundred year old building for use as the Governor’s School for the Arts (the “Governor’s School”). Located in Norfolk’s Downtown Historic District, the Monroe Building, with its large three-paneled windows and terra cotta façade, is one of the few remaining examples of the Chicago School of Architecture in Norfolk, Virginia. The renovation preserved many of the historical features of the Monroe Building while modernizing it to accommodate the needs of the Governor’s School which provides art, music, dance and theatrical classes for more than three hundred high school students from eight area public school divisions. The renovated Monroe Building will house visual art, music, theater and dance classes, sound–proofed practice rooms and a Black Box theater. Virginia Stage Company, which occupies the neighboring Wells Theatre, will use a portion of the Monroe Building’s space as a dressing room and set-building area.…

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Crenshaw, Ware & Martin receives Tier 2 ranking by U.S. News and Best Lawyers

Posted on November 1, 2013

U.S. News Media Group and Best Lawyers have released the 2014 “Best Law Firms” rankings, providing a comprehensive view of the U.S. legal profession.  Crenshaw, Ware & Martin, P.L.C. is proud to announce that the firm received a Tier 2 Metropolitan Ranking in Bankruptcy & Creditor/Debtor Rights/Insolvency and Reorganization Law; Litigation - Bankruptcy Litigation - Bankruptcy.…

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CWM attorneys close on transaction to fund new cardiac intensive care unit in Dallas, Texas

Posted on October 31, 2013
Posted in Transactions

CWM attorneys, Delphine Carnes and Harriet Reynolds, represented Hampton Roads Ventures, L.L.C. (“HRV”), a Community Development Entity based in Virginia, in the Children’s Medical Center (“CMC”) transaction which closed on October 31, 2013.  The CMC project utilized $10.5 million of HRV’s Round 10 new markets tax credit (”NMTC”) allocation to fund a new twelve (12) bed Cardiac Intensive Care Unit (“CICU”) in a pediatric hospital in Dallas, Texas. The CICU is part of an overall project to renovate the Children’s Medical Center facility which provides badly needed care to a severely distressed low-income community.  The NMTC financing of the CICU will provide additional capacity for surgeries and diagnostic procedures, as well as free up resources to fund the construction of five pediatric clinics located in Dallas’ most disadvantaged neighborhoods; the new clinics are anticipated to collectively facilitate 480,000 patient visits per year.  Moreover, HRV’s investment will create twelve (12) new full-time, permanent positions in the CICU, as well as provide additional employment opportunities to residents of the surrounding low-income community during the construction phase of the project.…

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CWM attorneys attend ribbon cutting and grand opening reception for Centre Heldman Plaza in Pittsburgh, Pennsylvania

Posted on October 17, 2013
Posted in Transactions

On October 17, 2013, attorneys Delphine Carnes and Harriet Reynolds attended the ceremonial ribbon cutting and grand opening reception for Centre Heldman Plaza located in Pittsburgh’s historic Hill District. Centre Heldman Plaza, anchored by Shop ‘n Save, a 29,500 square-foot, full-service grocery store, plays an integral role in the revitalization of the Hill District corridor, supplying the community with permanent employment, needed services and the first neighborhood grocery store in more than 30 years. The opening of Centre Heldman Plaza not only provides residents access to affordable, fresh foods, but also brings 100 new jobs to this distressed community, at least 65% of which will be filled by the neighborhood’s low-income residents. This $12.5 million transaction was made possible by a complex financing structure in which CWM represented Centre Heldman Plaza (the Qualified Active Low-Income Community Business) and two local non-profit organizations, The Hill House Association and Hill House Economic Development Corporation. This ambitious project involved multiple sources of funding, including $8.4 million of New Markets Tax Credits and a variety of grants from local and federal foundations and community development organizations.…

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CWM attorneys close on financing to expand cotton mill in Lacassine, Louisiana

Posted on September 30, 2013
Posted in Transactions

On September 30, 2013, CWM attorneys closed on a transaction utilizing New Markets Tax Credits (“NMTCs”) to expand the Zagis cotton mill, a minority-owned business located in rural Lacassine, Louisiana.  The Zagis facility is the first cotton spinning mill built in the United States in many years and serves as a pioneer in the movement to revitalize the domestic textile industry which, for the most part, has relocated overseas.  CWM represented Hampton Roads Ventures, L.L.C. (“HRV”), a Community Development Entity based in Norfolk, Virginia, in this transaction which financed the expansion and modernization of Zagis’ spinning operations. The Zagis project is expected to create new job opportunities, including full-time positions at competitive salaries as well as temporary construction jobs associated with the physical expansion of the mill.  In addition, Zagis, as a condition of HRV’s investment, has agreed to establish student internships, partner with local workforce agencies to employ residents of the surrounding low-income community and provide in-house training for new employees.…

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CWM attorneys close on financing to expand aluminum processing plant in Foley, Alabama

Posted on September 4, 2013
Posted in Transactions

On September 4, 2013, CWM attorneys Delphine Carnes and Harriet Reynolds closed on a transaction that utilized both federal and Alabama state new markets tax credits (“NMTCs”) to substantially expand the Vulcan Aluminum Processing Plant (“Vulcan”) located in a severely distressed non-metropolitan census tract in Foley, Alabama.  Vulcan’s facility processes hot-rolled aluminum into street signs.  This complex $22.5 million NMTC transaction involved three Community Development Entities (“CDEs”); Capital One served as the equity investor.  CWM represented Hampton Roads Ventures, L.L.C. (“HRV”), a Virginia-based CDE.  HRV’s investment of $12.5 million of its Round 10 NMTC allocation allowed Vulcan to double its manufacturing capacity and bring sixty (60) full-time manufacturing jobs with comprehensive benefits to an area of Alabama that has struggled with high poverty and unemployment rates.   In addition to the manufacturing positions created, the Vulcan project will also generate hundreds of supplemental jobs related to the construction of the facility and transportation of supplies and finished goods.  Construction on the project is underway and the new, state-of-the-art facility is anticipated to be in full operation by January 2014.…

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CWM attorneys close on financing for expansion of fresh fruit processing and distribution facility in Eloise and Winter Haven, Florida

Posted on August 30, 2013
Posted in Transactions

On August 30 2013, CWM attorneys Delphine Carnes and Harriet Reynolds closed on an innovative transaction to finance the expansion of the William G. Roe & Sons, Inc. fresh fruit processing and distribution facilities (“Roe”) located in Eloise and Winter Haven, Florida.  The Roe facility provides juice extraction, conditioning, packaging, marketing, distribution and storage services for a variety of fruits, including tangerines and blueberries.  CWM represented Hampton Roads Ventures, L.L.C (“HRV”), a Virginia-based Community Development Entity, in this transaction which combined $8 million of HRV’s Round 10 New Markets Tax Credit (“NMTC”) allocation with approximately $6.5 million of Florida state NMTC allocation to provide funding for the acquisition of new equipment and the expansion of the facility’s operational capacity.  Once construction is complete, this increased capacity will generate 65 new full-time jobs for residents of the surrounding low-income community which has a poverty rate of 22.5% and average incomes below 70% of Median Family Income.  Pursuant to a Community Benefits Agreement negotiated by CWM, Roe has committed to pay higher-than-market rate salaries with a full range of benefits as well as provide job training and career advancement opportunities for new hires from the severely distressed census tract in which the project is located.…

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CWM wins $537,000 judgment under successor liability theory

Posted on August 1, 2013
Posted in Cases

CWM attorneys Ryan Snow and David Hartnett won a $537,000 judgment after trial in Chesterfield Circuit Court against two companies in a case of successor liability.  The defendant companies had acquired the assets of a construction company against which CWM already obtained judgment.  Mr. Snow and Mr. Hartnett successfully proved that the purpose of the transactions was to hide the assets of the former company, making it judgment-proof, and continue the business under new names.  The Court found the new companies a “mere continuation” of the old one and pierced corporate formalities to hold them liable for the debt.…

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CWM announces eight lawyers selected for inclusion in 2013 Virginia Super Lawyers® and Rising Stars

Posted on May 1, 2013

Crenshaw, Ware & Martin, P.L.C. is pleased to announce that eight of its lawyers were selected for inclusion in the 2013 Virginia Super Lawyers® and Rising Stars lists appearing in Virginia Super Lawyers® magazine. These include: TOP 100 VIRGINIA SUPER LAWYERS: Donald C. Schultz Virginia Super Lawyers: James L. Chapman, IV - Transportation and Maritime Howard W. Martin, Jr. - Real Estate W. Ryan Snow - Business Litigation Steven M. Stancliff - Transportation and Maritime, Civil Litigation Defense Virginia Rising Stars: Delphine G. Carnes - Tax Elaine Inman Hogan - Employment & Labor, General Litigation Amy Taipalus McClure - Construction Litigation, Business Litigation, Eminent Domain…

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CWM attorneys close on financing for historic theater in St. Petersburg

Posted on December 15, 2012
Posted in Transactions

On December 21, 2012, CWM attorneys Delphine Carnes and Harriet Reynolds closed on an innovative $5 million transaction in St. Petersburg, Florida which utilized both federal and state new markets tax credits (“NMTCs”) as well as grant funds from the City of St. Petersburg to renovate the historic “Manhattan Casino,” a segregation era theater that brought musical greats, including Louis Armstrong, Duke Ellington and Count Basie, to St. Petersburg’s African-American community. CWM represented Urban Development Solutions, Inc., a national community development company, and its affiliates. The NMTC funding not only made possible the restoration of the iconic Manhattan Casino and its rebirth as an entertainment, community event and food service venue, but also brought badly needed employment and economic opportunities to the surrounding low-income neighborhood. The project has partnered with the renowned Sylvia’s Soul Food Restaurant in Harlem to open a Sylvia’s Soul Food location at the Manhattan Casino, which will offer the comfort food and ambiance synonymous with the Sylvia name and will further spur community revival.…

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