October 21, 2019

State of Alabama
Press Release: Alabama Historical Commission

ALABAMA HISTORICAL COMMISSION HOSTS FREE WORKSHOP ON HISTORIC PRESERVATION TAX INCENTIVES

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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