News & Publications
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.
Source Lunch with …. Ryan Sommers
Project Management Consultants managing director of financial services featured in Crain’s Cleveland Business “Source Lunch with …. Ryan Sommers”. 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.
Hot Topics in Construction – Taxes, Tariffs & Trending Topics on May 16
Please join us (in person or via webinar) for a complimentary program presented by professionals from Thompson Hine LLP and Project Management Consultants LLC. Presentations will include "Impact of Tariffs and Trade Issues on Federal and Commercial Construction," "Coverage Round-Up: Trending Topics and Insurance Impacts" and "Impact of Tax Reform on Development: Practical Insights and Opportunities." View video of event here.
Join us for "Impacts of Tax Reform on Real Estate Development" on May 3 in Cleveland
The signing of the Tax Cuts and Jobs Act (TCJA) lowered business and individual tax rates, and provided the most significant overhaul of the U.S. tax code in more than 30 years. Please join us for a complimentary seminar presented by PwC, Project Management Consultants and Thompson Hine about the provisions in the TCJA that significantly impact the real estate industry, most positively and some negatively. Visit the event page for more details.
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.
After 7 years, Kansas City's downtown convention hotel breaks ground
PMC is proud to be the Owner’s Representative for Lowes Kansas City Convention Center. A years-long struggle to bring a convention hotel to the evolving Kansas City skyline ended Thursday with a groundbreaking ceremony officials dubbed a "new chapter" in the city's downtown. 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 will receive 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,” will focus on four tracks: Investing in Small Businesses, Innovating Project Finance, Rebuilding Our Public Infrastructure and Building Affordable Housing. Tracey will serve 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 threats of, and actual, government shutdowns are not new (with the last one occurring in 2013), and although not all contracts are affected by them (e.g., contracts for activities considered essential to the protection of life and property), 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.