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Historic Tax Credits News Briefs - November 2010

On October 15 the National Park Service (NPS) proposed amending its procedures for obtaining historic preservation certifications for rehabilitation of historic structures. The proposed rule incorporates references to the revised sections of the Internal Revenue Code containing the requirements for obtaining a tax credit; replaces references to NPSs regional offices with references to its Washington Area Service Office (WASO); requires NPS to accept appeals for denial of certain certifications; and removes the certification fee schedule from the regulation. Comments on the rule will be accepted until December 14, 2010. A copy of the proposed rule can be found online at www.historictaxcredits.com.

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Las Vegas, Nev.’s Organized Crime and Law Enforcement Museum, dubbed the Mob Museum, will lose a $220,000 grant due to the state’s budget crisis, the Las Vegas Sun reported. The Commission for Cultural Affairs awarded $3 million in bonds to fund 23 historic projects in March, but canceled issuance in September because the state lacked the funds to cover them. The city of Las Vegas is still seeking grants to continue rehabilitation work on the museum, which is scheduled to open next year. Financing to date for its estimated $42 million construction includes $1.9 million from the U.S. Department of Housing and Urban Development; more than $500,000 from the National Trust for Historic Preservation; more than $5.6 million from the Commission for the Las Vegas Centennial; more than $102,000 from the State Historic Preservation Office; a $250,000 grant from the Institute of Museum and Library Services; and $200,000 from the Las Vegas Convention and Visitors Authority.

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New York Gov. David Paterson joined state Sens. William T. Stachowski and Antoine Thompson along with Assemblyman Sam Hoyt in October to highlight the passage of three “smart growth” bills, laws that the governor says will create jobs, increase property values and revitalize historic areas. The legislation package includes the Smart Growth Public Infrastructure Policy Act; the Historic Preservation Rehabilitation Tax Credit (HRTC) Fix; and the Model Senior-Friendly/Age-Integrated Planning, Zoning and Housing Guidelines. The change to the HRTC expands the program, created last year, by allowing banks and insurance companies to apply the HRTC against their state franchise tax liability. The governor’s office says the change will particularly help cities in upstate New York use historic preservation as a tool for economic development, tourism, environmental protection, neighborhood aesthetics and cultural heritage. View a copy of the expanded HRTC legislation at www.historictaxcredits.com.

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A project to convert a vacant refrigerated warehouse into loft-style apartments in Billings, Mont. was awarded one of six Preservation Excellence Awards from the Montana Preservation Alliance (MPA). Developer High Plains Architects used federal historic tax credits to restore Swift Building Lofts and create nine units in the LEED platinum certified structure. Other awardees included the St. Wenceslaus Church restoration; the Thompson Falls High School restoration; restoration of the Morgan-Case homestead, Hogback and Rock Creek cabins; and Anne Hedges, for championing preservation of the Great Falls Portage National Historic Landmark.

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The Preservation Alliance of Minnesota presented 16 projects and individuals with Minnesota Preservation Awards, annual accolades recognizing historic preservation achievement and sustainable reuse, at a recent ceremony in Winona. Judges selected the winners out of 28 nominations, ranging from community-led projects to large-scale rehabilitation efforts, for the categories of adaptive reuse, addition/expansion, advocacy, archaeology, career achievement, community effort, education/interpretation, emerging leader, preservation planning, restoration/rehabilitation, stewardship, and sustainable design. A complete list of this year’s honorees is available at www.mnpreservation.org.

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The Rhode Island Historical Preservation & Heritage Commission during its October preservation celebration presented to 10 recipients its annual Rhody Awards, which honor people and preservation projects that embody the state’s heritage. Winners included Thomas Wright of Westerly, recipient of the Frederick C. Williamson Professional Service Award; Keith Lescarbeau of Narragansett, who received the Stephan J. Tyson Sr. Artisan Award; Susan and Gilbert Hartson of Providence, receiving the Preservation is Green Award; the Congdon & Carpenter Building in Providence and the Narragansett Reading Room in Newport, with the Historic Rehabilitation Tax Credit awards; and Beavertail Light Station in Jamestown, Belknap School in Johnston, Breakers Mansion Gates in Newport and Stanford White Casino Theatre in Newport, which received the Historic Preservation Project awards.

Journal Category:

Historic Tax Credits

Authors:

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