Whitehaven

Renewal Community Tax Incentives

Feb 21, 2003

On January 21, 2002 the U.S. Department of Housing and Urban Development designated 48 census
tracts in the City of Memphis as Renewal Communities.

The Renewal Community reflects the
areas in Memphis which have the
greatest need and which offer the best
utilization of tax incentives to
stimulate business growth. The
Renewal Community will not only
create economic opportunities but also
generate jobs and hope for many
Memphis residents.

A business is eligible to take advantage of many of the Renewal Community tax incentives if it is
located in one of the 48 Renewal Community Census Tracts.

Substantial tax incentives will be
available to businesses in Renewal Communities (RC) during the period January 1, 2002, through December 31, 2009. These tax incentives are
generally designed to encourage businesses to locate or expand operations in the RC and to hire RC residents. The incentives include:

?• Wage Credits
?• Deductions
?• Bond Financing
?• Capital Gains and other incentives

Find out if you are eligible, go to www.cityofmemphis.org/rc