The Iowa Economic Development Authority (IEDA) has announced that it registered 11 projects in seven communities to receive State Historic Preservation Tax credits totaling $19.1 million.“The condition of a community’s historic structures sends a message to residents,” said IEDA director Debi Durham. “These projects, when complete, will tell residents and visitors that we value the past, but also are looking toward the future.” IEDA received 21 applications requesting $70 million in tax credits for the May 2018 registration period. Projects are scored based on readiness, financing, local support and participation. The Historic Preservation Tax Credit program provides a state income tax credit to projects for rehabilitation of historic buildings. The program is designed to promote the retention of unique, character-defining buildings and building features that contribute to a community and neighborhood. Rehabilitation must meet the federal Secretary of Interior standards. The Historic Preservation Tax Credit program is administered by IEDA in partnership with the State Historic Preservation Office. Since the program moved to IEDA in August 2016, 38 large projects have been registered to receive $62.9 million in credits. The next registration round for large projects under the Historic Preservation Tax Credit program will be late fall 2018. For more information on the Historic Preservation Tax Credit program, contact Dan Hansen at 515.348.6212 or email@example.com or visit iowaeconomicdevelopment.com.
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