June 14, 2018

State of Alabama
Press Release: Alabama Historical Commission

FEDERAL RESERVE BANK OF ATLANTA-BIRMINGHAM BRANCH PROJECT APPROVED FOR FEDERAL TAX CREDITS

For Immediate Release
June 14, 2018

Alabama Historical Commission, Marketing & Public Relations Manager: Jacqulyn Kirkland, 334-230-2645 or jacqulyn.kirkland@ahc.alabama.gov

FEDERAL RESERVE BANK OF ATLANTA-BIRMINGHAM BRANCH PROJECT APPROVED FOR FEDERAL TAX CREDITS

On May 7, 2018, the Federal Reserve Bank of Atlanta-Birmingham Branch project in Birmingham, Alabama, was approved by the National Park Service for the twenty-percent federal rehabilitation tax credit program.

The Birmingham Branch of the Federal Reserve Bank of Atlanta first opened in 1918, leasing space in what is now the City Federal Building.

The permanent building for the Birmingham Branch of the Federal Reserve Bank of Atlanta was completed and opened in 1926. Birmingham architectural firm Warren, Knight & Davis designed the building.

The neighboring property was purchased in the 1950s and an annex building was constructed and opened in the fall of 1958. The building and its annex are listed in the National Register of Historic Places. The facility served as the Birmingham Branch until 2000, when the bank moved to a new property.

The current owner rehabilitated the Federal Reserve Bank of Atlanta-Birmingham Branch for use as office and commercial space and retained and restored features such as the hipped copper roof, stone cladding, large steel windows, monumental lobby space, and vault doors. Black marble panels in the 1958 annex elevator lobbies were also retained and restored. Historic photographs were used to replace missing original elements, such as the entry bay and lobby space. Vaults in the 1926 building and the 1958 annex were repurposed for use as a weight room, conference room, restrooms, and an office bar.

The National Park Service oversees the Preservation Tax Incentive program jointly with the Internal Revenue Service (IRS). To qualify, the building must be listed in the National Register, either individually or in a historic district. Additionally, the property must be used for income-producing purposes. For more information concerning standards and guidelines please visit www.nps.gov/tps/tax-incentives.htm and http://ahc.alabama.gov/federaltaxcredits.aspx

The Alabama Historical Commission manages the program for the National Park Service in the state of Alabama. The Commission administers the federal restoration guidelines so the historic materials and look of the building remain.

Renovating and reusing these historic buildings is a win-win situation for the owner and the community.

To learn more about the tax incentive, visit http://ahc.alabama.gov/federaltaxcredits.aspx or contact Chloe Mercer at 334-230-2669 / Chloe.Mercer@ahc.alabama.gov.

About the Alabama Historical Commission
Located in historic downtown Montgomery at 468 S. Perry Street, the Alabama Historical Commission is the state historic preservation agency for Alabama. The agency was created by an act of the state legislature in 1966 with a mission to protect, preserve and interpret Alabama’s historic places. AHC works to accomplish its mission through two fields of endeavor: Preservation and promotion of state-owned historic sites as public attractions; and, statewide programs to assist people, groups, towns, and cities with local preservation activities. For a complete list of programs and properties owned and operated by the AHC, hours of operation, and admission fees please visit ahc.alabama.gov
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