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Home away from home

By HELEN HUNTLEY

© St. Petersburg Times, published March 5, 2001


A group of American Indians scheduled to visit Raymond James Financial this week may feel right at home. The company's St. Petersburg headquarters might be mistaken for a Southwestern art museum.

But Raymond James' interest in the Southwest isn't limited to displaying chairman Tom James' art collection, which includes many works with American Indian themes. The company is providing financing for $35-million worth of housing in "Indian Country" through Raymond James Tax Credit Funds. It's part of a $400-million program of financing apartment projects across the country under the Affordable Housing Tax Credit Program.

The investments generate tax credits for 10 years, provided the projects remain in compliance with IRS rules. This week's seminar focuses on compliance topics such as documenting tenant income, maintaining properties and meeting reporting requirements. About 60 to 70 American Indians are expected to attend.

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