The Louisiana Legislative Session has ended with a big win for downtowns and the preservation of commercial historic buildings statewide. By overwhelming votes in the House and Senate, the important State Historic Tax Credit (HTC), HB483, was extended until January 1, 2029. The bill was signed into law Wednesday, June 28 by Governor John Bel Edwards.
Uneeda Lofts construction, assisted by HTC
In addition, the HTC was increased from 20% to 25% of qualified costs of building rehab.
This is big news for downtown Shreveport, where assistance in returning often neglected historic properties to commerce is needed. Over the years, HTCs have played an important role in the rehabs of such properties as the Andress Artist and Entrepreneur Center, the Lofts at 624, The Standard, the Ogilvie Hardware Lofts, artspace, the Municipal Auditorium, Lee Hardware and United Jewelers apartments and more. Currently, HTCs are providing assistance in work at the Uneeda Biscuit Lofts on Milam St., a historic garage conversion on Cotton St., the current Chamber of Commerce building at 400 Edwards, the Shreve Memorial Library at 424 Texas Street, Cooper’s Corner at 700 Texas St., and City Center Lofts on Crockett Street. Other projects like the former Creswell Hotel in the 700 block of Milam are looking to apply for the credits, too.
The former Creswell Hotel on Milam St.
From 2002 until 2020, the LA HTC has led to the rehabilitation of 1,322 buildings throughout the state, totaling $4B in private investment in Louisiana’s historic downtowns and Cultural Districts. HTC are the best tool that we currently have in downtown Shreveport to save, rehabilitate and bring life, jobs and opportunities back to historic- and often challenged- buildings.
***If you would like more information on HTCs, how they work and which buildings might qualify in downtown Shreveport, please contact the DDA at 222-7403 and ask for Liz or Janie.
