There is legislation being debated today in the Missouri State Legislature that would put a cap on a program, that more than any other state program, has contributed to the revitalization of the City of St. Louis over the past decade. The attacks on the state’s Historic Tax Credit program are short-sighted and threaten to put the brakes on development activities in neighborhoods and downtowns all over the state.
This week, the Senate and House will be preparing conference reports on the state budget. It is likely that legislators will spend a fair amount of time in conferences set for this week. However, there is the [...]
Missouri’s Historic Tax Credit program is under fire by a group of senators who have sought to frame this debate in terms of “urban” versus “rural.” They cite examples such as the plans for the Ballpark Village in St. Louis to argue that the Historic Tax Credits only benefit big developers in urban centers.
Here’s a quick rundown of who supports Historic Tax Credits and who opposes this vital economic development tool. Contact the opponents of this successful job creation and neighborhood revitalization program and tell them HTC programs are good for Missouri.
The Historic Tax Credit program allows a tax credit equal to 25% of qualified expenditures associate with a historic redevelopment project. The Historic Tax Credits are available to a project of any size, and can be used for both commercial and residential purposes. In St. Louis alone, Historic Tax Credits have been responsible for the dramatic redevelopment of downtown.
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There is legislation being debated today in the Missouri State ...
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