New Effort Begun To Save Historic Preservation Tax Credit

People who support the Historic Preservation Tax Credit are lobbying state lawmakers to keep the credit intact and to steer clear of taking steps to eliminate it. Carrie Gartner, President of the Missouri Downtown Association, says during these tough budget times there are efforts by quite a few legislators to do away with the credit. Gartner points to studies showing $1.70 is returned to state and local economies for every dollar spent on tax credits. To be eligible for the Credit, 50-percent of the purchase price of an historic building must be spent on renovations and rehabilitation.