Minneapolis (20-May-2010) - John H. Herman, a partner in the Faegre & Benson real estate practice, played a pivotal role in real estate stimulus elements of the 2010 Job Stimulus Bill. Herman was a principal drafter of much of the bill, including the Historic Rehabilitation Credit and the Property Assessed Clean Energy (PACE) provisions. These are expected to generate substantial new construction activity.

Herman was an original organizer of the Jobs Coalition that advocated for the bill and grew to involve most of the state's labor, construction, architectural and redevelopment community. He also testified multiple times before the House and Senate in support of the bill.

Key provisions of the bill establish an angel tax credit to make $50 million available over the next five years for startup companies; provide a new 20 percent historic tax credit for historic restoration of National Register properties; offer various incentives for energy conservation initiatives, including the PACE program authority; allow more flexible use of tax increment financing for projects in 2011 and 2012; and authorize subsidies for renovation of the Ford plant in St. Paul and expansion of the Mall of America.

Herman practices in the areas of real estate development and finance, legislative and government relations, and environmental and land use law. He has been a central figure in Minnesota real estate development and environmental policy for more than 25 years. Herman was the author and advocate for much of the state's environmental legal framework, including the State Environmental Policy Act. He proposed and lobbied into law the Voluntary Investigation and Cleanup statutes for reuse of contaminated brownfields, which has been recognized as one of the most effective in the nation, and has been a major figure in multiple tax increment changes over the past20 years.

In addition, he was a principal advocate for creation of Tettagouche State Park, the Root River and Cedar Lake Bike Trails and over $250 million in state and metro park bonding. Herman currently also serves a commissioner of the Legislative Citizen Commission on Minnesota Resources, which recommends allocation of the state's Environmental Trust Fund.