Missouri Preservation, Save the Historic Tax Credit and the Alliance for Investment and Jobs in Preservation in Missouri (AIJP) sponsored a productive day visiting with our elected officials at the State Capitol on April 10, urging the preservation of our Historic Preservation Tax Credit (HPTC), which has helped to support an estimated $7 billion in private investment in the renovation of historic buildings in Missouri, as well as creating jobs and contributing to local economies throughout the state since its inception in 1998. In all, our group of more than 40 supporters had a great day. Legislators were generally positive in their support for the HPTC. However, changes are still afoot. Given that there are so many new elected officials, it is important for us to keep educating them about the multiple benefits HPTCs bring to Missouri communities and about the unintended consequences that may come from a reduction in the cap.
Representatives of Historic Kansas City Foundation and the Landmarks Association of St. Louis were on hand to remind legislators how the credits have turned entire neighborhoods around in Missouri’s larger cities. Space Architecture’s Tom and Shelley Niemeier chartered a bus from St. Louis which stopped at HPTC projects in Washington, New Haven and Jefferson City, where the tax credits have had a transformative effect on these towns. Thanks to all who made this day such a success, including Debbie Sheals and Karen Baxter, who supplied lunch for our attendees.
Below: The Central Hotel in New Haven. Renovated by the local Zobrist family, they say this and other projects would not have been possible without the Historic Preservation Tax Credit
Tax Credit Project managed by the Ward family in Jefferson City. This 1860s house was renovated using 100% local supplies and 100% local labor.
At left, the Ward’s house on Atchison Street. At right, Laura Ward appears on the front porch with her painting contractors.
This excerpted from the Report about the Tax Credit impact in Missouri:
Here’s what historic tax credits did for Missouri during the recession:
Credits issued in FY2010 accounted for $632,894,262 in redevelopment, 1,571 jobs (not counting construction jobs), and 1,817 new housing units. -Department of Economic Development Statistics.
It should also be noted that, because not all project costs are eligible for the 25% credit, state historic tax credits accounted for just 16% of that total, and as always, credits were not issued until after the buildings were put into service.
Click on the Links Below to These Documents of Interest:
Historic Preservation Tax Credits are NOT just for big cities. The economic benefits are felt in many places all over the State:
It is important that you let your legislators know that you support the positive economic impact that the State Historic Preservation Tax Credits deliver in Missouri. Don’t know your legislator’s name or contact information? You can find it at http://www.moga.mo.gov.