I have heard of similar concerns as well as some folks who the IRS thinks
may have overstepped their windfall. The IRS can came back at them asking
for $$$ back. I have never gone thru one of these but have met some
attorneys who can help. You know where this is going so I'll stop. I'd
suggest getting every little duck in line and see how much $$$ your client
would have, then decide if it is worth it. Conceivably, the owner would have
another agency like Landmarks looking over his shoulder in perpetuity as
well. If his property is already designated or in a district it "shouldn't"
matter much.

Eric Hammarberg
Director of Preservation
Vice President
Thornton-Tomasetti Group
LZA Technology Division
641 Avenue of the Americas
New York, NY 10011
Telephone: 917.661.8160
Fax: 917.661.8161
Mobile: 917.439.3537
email:  <mailto:[log in to unmask]> [log in to unmask]

   _____

From: [log in to unmask] [mailto:[log in to unmask]]
Sent: Tuesday, September 20, 2005 11:58 AM
To: [log in to unmask]
Subject: Re: [BP] National Architectural Trust



BPoids -



A client recently inquired about acquiring a tax deduction by getting a
conservation easement for the facade of his NYC house. I seem to recall that
this program is a scam which nets a good deal of money up front for the NAT,
and questionable amounts for the client,. plus possible IRS pencil-necks
breathing down his back in the future. Has anyone heard similar issues with
this program?



$Twybil$


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