Kitsap County NMTC Facilitators I, LLC - Frequently Ask Questions

New Markets Tax Credits Success

Pacific Avenue Plaza

	Project:	Pacific Avenue Plaza
	Location:	Bremerton, WA
	Occupied by:	Pacific Avenue Dental and AMI
	Project Partners:	Kitsap Bank and Kitsap County New Markets Tax Credits Facilitators I, LLC
	Date of Completion:	August 2005
	Project Highlights:	2nd NMTC Deal in Bremerton

Pacific Avenue Partners (PAP) was organized in May 2004 to purchase a commercial real estate building 80% financed through a bank loan and 20% paid by its members. The members of PAP are as follows:

40% owner: Dr. Allan Hablutzel (Pacific Avenue Dental)
40% owner: Guy and Mary Ann Stitt (American Maritime International)
20% owner: Mike Brown (B.M., LLC)

Dr. Allan Hablutzel is a general dentist with his current practice located in downtown Bremerton for 14 years. He is a 40% owner with his wife Gail. He graduated from the University of Illinois Dental School in June 1982. He currently employs 10 staff and plans to hire 2-3 more in the future. His wife Gail is a registered nurse.

Guy and Mary Ann Stitt own American Maritime International, Inc. (AMI). AMI is a veteran owned small business whose employees are composed of 60% US military veterans. It is a Washington State corporation in operation since 1984. The company is organized around two distinct business segments, naval market intelligence subscriptions and naval advisory consulting services. The naval market intelligence subscriptions business tracks the activities of the world’s Navies. Governments, navies, and large defense contractors worldwide subscribe to AMI’s products. Their clients for the naval advisory and consulting services business are governments and Fortune 500 corporations. The typical assignments are focused on assisting in naval project and policy related issues. The company is growing around 15% per year. They currently employ 10 staff and plan to hire 3-5 more in the future.

BM, LLC is jointly owned by Michael Brown and Robert Mathwig. BM, LLC is a real estate development company.

Kitsap Bank will be the primary shareholder of the Kitsap County NMTC Subsidiary Allocatee One, LLC and will receive roughly $600,000 worth of tax credits in return for its investment.

Dimension 4

	Project:	Medical Dental Building
	Location:	Bremerton, WA
	Occupied by:	Dimension 4
	Project Partners:	Key Bank
	Date of Completion:	February 2005
	Project Highlights:	1st NMTC Deal in Bremerton

Dimension 4 has become the world's leader in unlocking information contained in graphical documents and computer files and transforming this information into intelligent, user-friendly applications. As industry and the government move to ever more complex systems, these smart applications are increasingly relied upon to reduce costs by improving safety, increasing reliability, and reducing training and operation expenses.

By moving its headquarters to downtown Bremerton, Dimension 4 helped to create 120 new jobs.

For More Information Contact:
CDFI Fund Website: www.cdfifund.gov
Chuck Depew, Consultant, 206.4193904
Email: Chuck Depew

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