The Historic Tax Credit has been a significant incentive for development in downtown Shreveport. Sixty-seven projects have used the tax credit for their projects in Shreveport. The total QRE (Qualifying Rehabilitation Expense) for those projects is $575,493,285.91. The 600 and 700 blocks of Texas Street were literally transformed using the tax credit program.
“The Historic Tax Credit has been a vital foundation for downtown Shreveport’s revitalization,” stated Cedric B. Glover, DDA Executive Director, “breathing new life into our historic structures and fostering growth. Its preservation ensures we can continue building on this legacy for years to come.”
Throughout the years since the program inception, supporters of the tax credits have had to defend it before the Louisiana Legislature. The most recent support was needed due to Governor Jeff Landry’s proposed tax cuts. We again joined forces with the Coalition to support the historic tax credit.
Good news…as of November 22nd, the bill has passed the Senate with an $85 million annual cap going forward for Part 2s received after January 1, 2025. Anything prior to that will be under the rules that were in place at the time of the initial Part 2 filing.
