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Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
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Disaster Assistance Grants and Tax Credits Proposed for Flood-Damaged Historic Properties in Midwest
Historic Preservation Blog from PreservationDirectory.com - Disaster Assistance Grants and Tax Credits, Flood-Damaged Historic Properties, Midwest, Iowa Floods
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

Senate Majority Leader Harry Reid (D-NV) announced this week that a second supplemental bill/economic stimulus package — which could include disaster assistance funding for historic properties damaged in the Midwest floods — will be taken up by the Senate Appropriations Committee on July 22nd. House Speaker Nancy Pelosi (D-CA) has indicated that the supplemental would be in the $50 billion range at a minimum. In advance of the mark up, the National Trust is taking the lead in proposing a similar rehab tax credit expansion that was used for the GO ZONE disaster areas in the aftermath of Katrina for the affected flood areas — increasing the historic rehab credit for affected historic properties from 20% to 26% and from 20% to 40% for special rehab projects. The National Conference of State Historic Preservation Officers (NCSHPO) is taking the lead in formulating a request for a pass-through grants program [also based on the GO ZONE model] for rehabilitating flood-damaged historic properties.

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: Disaster Assistance Grants and Tax Credits, Flood-Damaged Historic Properties, Midwest, Iowa Floods

Posted: July 14, 2008
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