FOR IMMEDIATE RELEASE
Contact: Andi Martin, Marketing and
Public Relations Manager
andi.martin@ahc.alabama.gov,
334-230-2680
October 21, 2019
Alabama
Historical Commission Hosts Free Workshop on
Historic Preservation Tax Incentives
(Montgomery,
AL) The Alabama Historical Commission (AHC), in
partnership with Senator Arthur Orr, will present a free education workshop on
Historic Preservation Tax Incentives on Wednesday, October 23 from 9:30 am –
12:00 pm at the Alabama Center for the Arts in Decatur.
This event is for
community planners, developers, historic property owners, real estate agents,
economic development specialists, historians, and municipal leaders who want to
learn more about utilizing vacant and or historic buildings in their
communities. This workshop will demonstrate the intrinsic value of historic tax
credits as economic development tools—providing incentives to invest in older structures, stabilizing
neighborhoods, and creating local jobs for skilled workers.
“The use of Historic Tax Credit programs is vital for
both historic preservation and economic development,” said Senator Arthur Orr. “These programs can enable and incentivize private
sector investments to restore historic properties. We know these investments have
long-term value by way of enhancing property values, creating jobs, and revitalizing
communities – all spurring economic growth. We hope everyone takes advantage of
this free educational workshop.”
“Attendees
will learn how to apply for state and federal historic tax credits, how tax
credits can be utilized with other incentive programs to make projects happen,
as well as hear some success stories from current applicants,” said AHC staff
member Taylor Stewart who serves as
the Alabama Historic
Rehabilitation Tax Credit Program Coordinator.
Stewart will be a featured speaker at the
workshop along with Chloe Mercer, Federal
Tax Credits and Alabama Ad Valorem, also with AHC. Other presenters include
Suzanne Darden, Capital Access
Program Director with the Alabama Small
Business Development Center, and Shirley E. Hammond and Michael Mouron, developers
who have utilized historic tax credits.
The Alabama Historic Rehabilitation Tax Credit is a 25% refundable tax
credit available for private homeowners and owners of commercial properties who
substantially rehabilitate historic properties that are listed in or eligible
for the National Register of Historic
Places and are 60 years old or older. The tax credit provides jobs,
increases the tax base, and revitalizes existing buildings and infrastructure,
while preserving and rehabilitating Alabama’s historic properties.
The Federal
Historic Preservation Tax Incentives Program is the single-largest Federal
program that specifically supports historic preservation and is one of the
nation's most effective programs to promote historic preservation and community
revitalization.
The Federal Historic Preservation Tax Incentives
program includes a 20% income tax credit for the rehabilitation of historic,
income-producing buildings. Applicants requesting historic preservation
certifications by the National Park Service as well as others interested in the
use of these tax credits are strongly advised to consult an accountant, tax
attorney, or other professional tax adviser, legal counsel, or the Internal
Revenue Service regarding the changes to the Internal Revenue Code related to
Pub. L. 115-97.
The Alabama
Historical Commission is the point of contact for anyone in Alabama wishing
to apply for these incentives.
To
learn more about the Alabama Historical Commission, please visit www.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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