News & Publications
The Ascent continues at Top of the Hill with groundbreaking on $83 million development in Cleveland Heights
PMC helped client Flaherty & Collins close successfully on financing for the mixed-use Top of the Hill construction project in Cleveland Heights, OH. Our services included but were not limited to developing a plan for public funding, analyzing and securing TIF capacity, and coordinating with potential lenders regarding financing components and how these elements fit together for coordination of successful closing. Read more.
With a host of COVID-19 safeguards, Loews hotel finally opens in downtown Kansas City
PMC served as owner’s representative for Kansas City’s downtown convention hotel. Read more.
Update: Ohio Launches "Responsible RestartOhio" Plan
April 29, 2020 – On April 27, Ohio Governor Mike DeWine announced details of Responsible RestartOhio, a plan to phase in a relaxing of the Amended Stay-at-Home Order issued on April 2 by Ohio Department of Health Director Dr. Amy Acton, which is set to expire at 11:59 p.m. on May 1. While a new order has not yet been published, Governor DeWine identified three key dates: May 1 (allowing certain elective health care procedures to resume), May 4 (reopening construction, distribution and manufacturing facilities as well as general business offices) and May 12 (reopening retail and service businesses). However, several categories of business must remain closed for in-person services, including bars, restaurants, gyms and salons. Read more.
Update: Main Street Lending Program: New Relief for Small to Mid-Sized Businesses
April 14, 2020 – On April 9, the Treasury Department and Federal Reserve released details about the new $600 billion Main Street Lending Program, which is designed to help shore up the economy. The program will be implemented using funds appropriated under the CARES Act and will permit small and medium-sized businesses to obtain financing through eligible lenders. Read more.
Update: Ohio’s Amended Stay-at-Home Order
April 3, 2020 – On April 2, Ohio Governor Mike DeWine announced that Ohio Department of Health Director Dr. Amy Acton issued an Amended Stay-at-Home Order (Amended Order) for all of Ohio. It extends the directive set forth in the March 22 Stay-at-Home Order that all individuals currently within the state of Ohio stay at home or at their place of residence, except as allowed in the Amended Order, through 11:59 p.m. on May 1, 2020. It also provides additional guidance on Essential Businesses and Operations, identifies restrictions on seasonal outdoor activities, implements additional travel restrictions and creates a dispute resolution process for conflicting determinations by local health departments. Read more.
Update: CARES Act: Implications for Businesses
March 28, 2020 – The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a roughly $2 trillion coronavirus response bill signed into law yesterday, is intended to provide widespread emergency relief for Americans and the country’s economy. In addition to its benefits for individuals, the bill provides aid for small businesses, large corporations, hospitals and public health agencies, and state and local governments. Read more.
Update: CARES Act: Paycheck Protection Program – Forgivable Loans for Small Businesses
March 27, 2020 – The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law today by President Trump provides a substantial temporary revamp of small business loans under Section 7(a) of the Small Business Act. The CARES Act’s “Paycheck Protection Program” (PPP) expands the scope of businesses eligible for Section 7(a) loans, alters the maximum loan amounts and permitted uses of loan proceeds, and affords repayment relief and loan forgiveness to borrowers. Read more.
Update: Ohio Issues Stay-at-Home Order
March 22, 2020 – Ohio Governor Mike DeWine today announced that Ohio Department of Health Director Dr. Amy Acton issued a Stay at Home Order for all of Ohio, effective at 11:59 p.m. on March 23. Read more.
Update: Top Five Considerations for Construction Projects During the COVID-19 Outbreak
March 20, 2020 – As the country continues to navigate the COVID-19 pandemic, we examine the top five issues that might have an impact on construction projects, from force majeure clauses in contracts to insurance coverage and bonds. Read more.
Opportunity Zones – How to Maximize Your Community’s Investment Potential
Tracey Nichols, Director of Financial Services for Project Management Consultants LLC (PMC), authored the article “Opportunity Zones – How to Maximize Your Community’s Investment Potential".
This article provides information on Qualified Opportunity Zones (OZ) for the economic development professional and provides background on the history behind the tax law and how it can impact local economic development projects. Read more.
Update: Supreme Court of Ohio Upholds Local Hiring Ban
September 24, 2019 - Earlier today, the Supreme Court of Ohio upheld R.C. 9.75, a statute prohibiting the use of local hiring requirements on public projects in Ohio. Read more.
Update: Ohio Supreme Court Holds 10-Year Construction Statute of Repose Includes Breach of Contract Claims
July 19, 2019 – On July 17, 2019, the Ohio Supreme Court issued its ruling in New Riegel Local School Dist. Bd. of Edn. v. Buehrer Group Architecture & Eng., Inc., in which it held that Ohio’s 10-year construction statute of repose includes both tort and contract claims. Previously, the statute was not interpreted to include breach of contract claims. Read more.
Update: Ohio Senate Passes Senate Bill 39, Clearing Way for Transformational Mixed-Use Development Tax Credits
July 1, 2019 – The Ohio Senate voted 32-1 last week to pass a bill that would create a new tax credit to incentivize the construction of transformational mixed-use developments. The legislation, which will now be considered by the Ohio House of Representatives, authorizes a nonrefundable insurance company tax credit of up to 10% of total eligible project costs for contributions of capital to eligible projects. Read more.
Hilton Des Moines Downtown Receives 2019 Building Design + Construction Bronze Building Team Award
PMC served as owner’s representative for the new convention center hotel. Read more.
Hot Topics in Construction and Development: Thursday, June 13
Please join us for Hot Topics in Construction and Development presented by professionals from Thompson Hine LLP and Project Management Consultants LLC. This complimentary program will explore timely topics and the latest developments impacting the construction industry.
Registration, continental breakfast & networking will begin at 7:30 a.m.; the program will run from 8:30 to 10:30 a.m. Visit the event page for more information or to register.
Hilton Cleveland Downtown Wins Prestigious Connie Award
The $272-million Hilton opened in June 2016, adjacent to the Huntington Convention Center of Cleveland. It was funded by a quarter-cent increase in the county sales tax, which also paid for the convention center.
Hilton Des Moines Awarded “Hotel of the Year”
Hilton Des Moines Awarded “Hotel of the Year” by Corporate Travel Awards 2019 Edition. Read more.
Update: Recent QOZ Developments: Public Hearing Scheduled & EPA Comments on Proposed Regs
January 31, 2019: This Qualified Opportunity Zone Alert covers two important topics: The scheduling of the long-awaited hearing on the first round of proposed IRS regulations and comments on the regulations submitted by the EPA Brownfields Office. Read more.
Update: Opportunity Zones and Startup Tech Companies
January 29, 2019: This Qualified Opportunity Zone Alert updates our November 2, 2018 letter to the IRS regarding the use of the Opportunity Zone (OZ) provisions to invest in startup tech companies. While obstacles remain for now, there have been additional submissions that will result in some IRS/Treasury response on this topic. Read more.
Update: Shutdown Delays IRS Regulations for Opportunity Zones
January 28, 2019: The recent government shutdown postponed a proposed January 10, 2019 IRS hearing on Opportunity Zone regulations that would have provided the IRS with feedback to help refine the regulations. With the government back in operation, the IRS is expected to issue notice of a new date for the hearing. Read more.
Update: Threat of Another Government Shutdown: What Contractors Need to Know and Do Now
December 20, 2018: Government funding runs out for about a dozen federal agencies tomorrow, and with Congress seeking guidance from President Trump on his willingness to sign a short-term funding bill and the lack of a final spending bill from both the House and Senate, there remains a possibility that portions of the federal government will shut down. Contractors should consider taking steps to ensure they are prepared for the possibility of a government shutdown. Read more.
Update: Executive Order Increases Support for Opportunity Zones
On December 12, President Trump signed an Executive Order creating the White House Opportunity and Revitalization Council, an inter-agency body charged with developing policies and programs to support investment in economically distressed areas, including Qualified Opportunity Zones. Read more.
Update: IRS Issues Tax Tip on Qualified Opportunity Zones
On December 11, 2018, the IRS issued a Tax Tip on Qualified Opportunity Zones. While the Tax Tip does not provide any new information, we would like to highlight a few urgent year-end considerations for those who have recognized a capital gain in 2018 and still have not invested in a Qualified Opportunity Zone Property or Qualified Opportunity Zone Business and provide some further comments for those who have invested already. Read more.
Government Contracts Update: GAO Releases Bid Protest Annual Report for FY 2018; Effectiveness Rate Is 44 Percent
December 10, 2018: The U.S. Government Accountability Office has released its GAO Bid Protest Annual Report to Congress for Fiscal Year 2018, which shows a fairly steady rate of protests filed and protests sustained, and a fairly steady effectiveness rate of 44 percent, which decreased slightly from last year’s record high of 47 percent. The effectiveness rates over the last three years indicate that, including agency corrective actions and sustained decisions, a GAO bid protest has a significant chance of resulting in some kind of relief for the protester, as reported to GAO. Read more.
Update: IRS Regulations Give Green Light for Real Estate Investments in Opportunity Zones
On October 19, 2018, the IRS released long-awaited regulations and a Revenue Ruling addressing investments in Opportunity Zones (OZs). OZs have generated interest since the Tax Cuts and Jobs Act of 2017 was released in December 2017, with the hope that this program would bring new investments into areas that need them most. The legislation indicates that potential benefits for capital gains invested as equity in a Qualified Opportunity Zone Fund (QOF) for certain OZ projects include deferral of capital gains until the 2026 tax year, reduction of capital gains tax by 10–15 percent and the ability to exclude future gains on QOF interests held for at least 10 years. Read more.
Join us for “Qualified Opportunity Zones: How to Use This Unique Investment Opportunity for Your Real Estate Projects” on December 5 in Cleveland
New IRS regulations have been released, answering many questions and providing guidance for those planning real estate projects in Opportunity Zones. It may be the right time to consider potential investments or starting your own fund or a fund with your partners. Learn more from members of the Thompson Hine/Project Management Consultants Opportunity Zone Team. Visit the event page for details.
IRS Issues Long Awaited Opportunity Zone Guidance
On October 19, 2018, the IRS released 74 pages of proposed regulations, a separate Revenue Ruling, a draft form and draft form instructions. We will provide analysis and insight as we review these documents and assess how they may impact projects. Please contact Tracey Nichols, Ryan Sommers or Ken Kalynchuk with questions.
Update: Ohio First State to Propose Tax Credit for Qualified Opportunity Fund Investments
On August 31, 2018, Representative Kirk Schuring introduced Ohio House Bill 727, which would authorize an income tax credit for investing in an Ohio Opportunity Zone. Read more.
Update: IRS Sends Regulatory Guidance on Qualified Opportunity Funds to OMB
On September 12, 2018, the Internal Revenue Service sent regulatory guidance on Qualified Opportunity Zones to the Office of Management and Budget’s Office of Information and Regulatory Affairs. The proposed rules are anticipated to clarify information for potential investors who have either set up Qualified Opportunity Funds or are waiting for further guidance before doing so. Read more.
Weitz Named an ENR Midwest Region Best Project Winner for Construction of Hilton Des Moines Downtown
PMC is proud to have served as Owner's Representative for award-winning Hilton Des Moines Downtown. Read more.
Update: Annual Procurement Law Reforms in the FY 2019 National Defense Authorization Act
The John S. McCain National Defense Authorization Act (NDAA) for Fiscal Year 2019 was signed into law on August 13, 2018. It contains far-reaching reforms to procurement laws in Title VIII, which covers acquisition policy and management. In this update we summarize a select number of reform provisions contained in Title VIII, which include increased congressional attention to the DoD industrial base, small business contracting and countering risks from competitor nations. Read more.
Update: IRS Releases More Information on Qualified Opportunity Funds
The Internal Revenue Service has added more information on Opportunity Zones on its Opportunity Zones Frequently Asked Questions page. The new information provides guidance on the eligibility of capital gains in 2017, indicating they are eligible if invested in a Qualified Opportunity Fund within a 180-day period. Read more.
Hilton Owner Awards Celebrate Guest Experience and Business
The Hilton Des Moines project where PMC served as owner’s representative received a 2017 new build award from Hilton Corporate. Read more.
Update: Opportunity Zones Provide Tax Benefits for Investors
Qualified Opportunity Zones were created by the Tax Cuts and Jobs Act to stimulate economic development by spurring investment in distressed communities and providing tax benefits to investors. In April, the U.S. Department of the Treasury and the IRS designated Opportunity Zones in 18 states, including several in Ohio. Read more.
PMC assists in locating third party manager and flag recommendation for former Amerock building
The City of Rockford and developer Gorman & Company are set to break ground at the former Amerock building, to make way for a four-star Embassy Suites Hotel and Convention Center. The groundbreaking ceremony will take place on Tuesday, April 10th at 10 a.m. Read more.
Hilton Des Moines Downtown Hotel Opens in Iowa
Today, the newly constructed Hilton Des Moines Downtown opens its doors as the only hotel directly connected to the Iowa Events Center, which comprises a world-class convention center and the Wells Fargo arena. The opening of this landmark hotel will further attract large-scale meetings and events to Des Moines and in turn, increase economic activity throughout the community. Read More.
P3, Prefabrication Help Deliver Des Moines Hilton
PMC Director Ellis Katz was quoted in the article “P3, Prefabrication Help Deliver Des Moines Hilton,” published in ENRMidwest. Prefabrication, full 3D model sharing among all trades and bathroom pods built in a factory in Ohio are things that don’t happen on every project in Iowa. The Hawkeye State is one of only seven where design-build remains a limited option. Still, thanks to innovative delivery and some lessons learned from a similar project, Iowa is now ground zero for one of the most integrated hotel projects in the U.S., the $101 million, 330-room Hilton Des Moines Convention Center. Read more.
Low Cost of Living, Cultural Assets Could Draw Millennials to Cleveland
Tracey Nichols, PMC’s Director of Financial Services, was quoted in the article, “Low Cost of Living, Cultural Assets Could Draw Millennials to Cleveland,” published in Urban Land Magazine, February 12, 2018. Read more.
Renovation & Remodel Project Updates University Heights Library to Meet Modern Needs
Congratulations to Eric Gonczy who led the PMC team on the successful completion of the University Heights Library Renovation, which was featured in this month’s Properties Magazine. The $5.6 million, 18,000-square-foot renovation broke ground in September 2016, completing in October of last year.
2016 Hilton Development Award Winner – New Build/Adaptive Reuse of the Year: Jeff Appelbaum, Project Management Consultants
Congratulations to Jeff Appelbaum, Ellis Katz and the team at Project Management Consultants on winning the New Build/Adaptive Reuse of the Year Award for the Hilton Cleveland Downtown in Cleveland, Ohio. Read more.
PMC to Study Future of Justice Center
Cuyahoga County is expected to pay $800,000 for a consultant to study the future of the Justice Center. A resolution to hire Project Management Consultants of Cleveland will be introduced at County Council's meeting on Tuesday. It will be referred to a committee for discussion. Read more.
Get the First Look Inside Hilton's Convention Hotel in Downtown Des Moines
The $101 million project — built with a mix of public and private money — is seen as a vital addition if Des Moines wants to compete against cities like Omaha, Kansas City and St. Louis for regional and national conventions. Read More.
Update: Ohio Appellate Court Affirms Injunction on Local Hire Law
On December 7, 2017, the Court of Appeals of Ohio, Eighth District, upheld a lower court ruling granting the city of Cleveland a permanent injunction in the city’s lawsuit against the state of Ohio related to Ohio’s statute prohibiting the use of local hiring requirements on public projects. The decision was made on the grounds that R.C. 9.75 was unconstitutional and violated the municipal right of home rule. Read more.
2017 Robert W. Davenport Community Development Leadership Award
On October 25, 2017, Tracey Nichols received the 2017 Robert W. Davenport Community Development Leadership Award at the NDC Academy, a biennial gathering of the National Development Council in Washington, D.C. The award honors an individual for leadership in the field of economic development.
This year’s Academy, titled “Rethinking How We Invest: Homes, Jobs and Communities in 2017 and Beyond,” had four tracks: Investing in Small Businesses, Innovating Project Finance, Rebuilding Our Public Infrastructure and Building Affordable Housing. Tracey served on a panel titled “Leveraging Your CDBG Dollars for Economic Development” during the Innovating Project Finance track. Her presentation, “Using HUD 108 for Job Creation and Economic Inclusion,” will provide a clear explanation of how to use these funds, along with examples of projects and potential pitfalls. Click here to view presentation.
Tracey has 33 years of community and economic development experience, most recently as the director of economic development for the city of Cleveland from 2008-2017. She joined PMC in February 2017 and specializes in assisting businesses with incentives to help them grow and create jobs, working with municipalities and nonprofit organizations on strategy, and assisting with real estate development expertise. Tracey works with banks, nonprofits and municipalities to develop funds designed to provide targeted funding to attract neighborhood jobs and investment. She also works on appraisal gap issues.
Starting a New Chapter: Renovated & Expanded Cleveland Heights High School Provides Something for Everyone
We proudly serve the board and administration of the Cleveland Heights-University Heights City School District. We are honored to be involved with a community that has the commitment and vision to provide modern facilities that meet the needs of today’s students and educators. Read more.
The Threat of a Government Shutdown and What Contractors Need to Know and Do Now
As we approach the end of the U.S. government’s fiscal year (September 30), you may have heard in the news that the government might experience a shutdown if Congress does not pass, and President Trump does not sign, the appropriations bills that are necessary to keep many government agencies open and running. So far the House has passed only a “minibus” spending bill that would provide funding for certain departments (Defense, Energy, Interior and Veterans Affairs), while the Senate has passed no appropriations bills, and President Trump has threatened to veto any spending bill that does not include funding for the controversial U.S.-Mexico “border wall.” Although not all contracts are affected by government shutdowns, government contractors should be planning and preparing now for potential stop work orders or terminations of their contracts. This article provides some tips and guidance that government contractors should consider and follow to lessen or avoid the potential impact of a pause in government funding.
New OSHA Regulations on Construction Exposure to Crystalline Silica
Beginning on September 23, 2017, the Occupational Safety and Health Administration (OSHA) will significantly reduce the Permissible Exposure Limit (PEL) for respirable crystalline silica during work at construction projects from 250 to 50 µg/m3 (micrograms of silica per cubic meter of air), averaged over an eight-hour day. This new PEL applies to all occupational exposures to respirable silica in construction work, except where employee exposure will remain below 25 µg/m3. Read more.
Hilton Cleveland Downtown – New Build/Adaptive Reuse of the Year
PMC is proud to have served as owner’s representative for the Hilton Cleveland Downtown on behalf of the County of Cuyahoga. The project received the honor of New Build/Adaptive Reuse of the Year this week at Hilton’s 2016 Development Awards.
PMC Convention Center Hotel Project Tops Out
PMC is serving as owner’s representative for this fast-tracked, 330-key convention center hotel that recently celebrated its topping out on June 1, 2017. PMC has assisted with selection of design team, selection of hotel operator, budget, schedule, and design and construction issues. The hotel opens in March 2018. Read more.
Trending Exception to the Exclusion: Finding a Subcontractor’s Defect Isn’t “Your Work”
Most contractors’ Commercial General Liability (CGL) policies are based on the post-1986 Insurance Services Office, Inc. (ISO) standard form policies that include a “Your Work” exclusion that precludes coverage for property damage to work or operations performed by a contractor or on the contractor’s behalf. However, the “Your Work” exclusion includes an express exception that states that the exclusion does not apply if the damages arise out of work performed on the contractor’s behalf by a subcontractor. Despite this express exception, most courts have historically interpreted these CGL policies to exclude coverage for property damage caused by defective work of subcontractors based on a determination that such defective subcontractor work did not constitute “property damage” arising from an “occurrence” under the policies and, accordingly, there was no initial grant of coverage. In determining that there was no initial grant of coverage, most courts did not perform a detailed analysis of the language of the “Your Work” exclusion or its exceptions. Read more.
Up-Close Encounters – Cleveland Museum of Natural History Enhances Guest Experience With New Wildlife Center
PMC is proud to have served as owner’s representative for the Perkins Wildlife Center at The Cleveland Museum of Natural History. Read more.