126023P.pdf   10/11/2012  U.S. Bank National Association  v.  Lewis & Clark Apartments
   U.S. Court of Appeals Case No:  12-6023
   U.S. Bankruptcy Court for the Eastern District of Missouri - St. Louis   
   [PUBLISHED] [Federman, Author, with Chief Judge Kressel and Nail,
   Bankruptcy Judges] 
   Bankruptcy Appellate Panel - valuation under sec.506(a). Order valuing
   collateral, standing alone, is not a final appealable order but leave to
   review this interlocutory appeal is granted, as case presents a novel issue
   whether tax credits and attendant use restrictions attributable to the
   Bank's collateral can be considered in valuing such collateral.
   Bankruptcy court erred in failing to attribute value to the low income tax
   credits that the property owner is eligible to claim, as the value of the tax
   credits reflects what a willing buyer would pay to purchase the property. 
   On remand the bankruptcy court should afford the opportunity to offer
   additional valuation evidence.