Historic Commercial Tax Credits are available to many owners of historic buildings in the Downtown Development District. These credits, both state and federal, can go a long way in helping offset the costs of rehab and improvements; in fact, up to 40% of all ‘qualified’ costs of your project can be returned to you in the form of tax savings or cash received from selling your tax credits. Clear as mud?
We know you have questions and so does the State Office of Cultural Development, which oversees the credits. On Friday, June 14 at 11:30 a.m. historic tax credit program staffers Alison Saunders and Krystal Cox are hosting a live streaming Facebook tutorial and Q & A session to try to clear up any confusion and to answer your specific questions. This is a GREAT opportunity to get the information you need prior to purchasing a historic commercial building or starting on a rehab or improvement project.
Don’t forget that Liz and Janie on the DDA staff can help walk you though what historic tax credits are, how they work and if your property could qualify. Call us for a , so call us at 318-221-7403.