BY KATELYN CAMPBELL, APC AND COMMUNITY DEVELOPMENT POLICY VISTA, THE HUB
It has been seven months since legislation increasing the state historic rehabilitation tax credit in West Virginia from 10 to 25 percent went into effect, and according to a report in the Huntington Herald-Dispatch, applications have been steadily flowing in.
In an interview with the paper, West Virginia tax credit coordinator Jennifer Brennan shared that by May 2018, the State Historic Preservation Office had already received twelve Part I applications (which indicate intent to apply) and six Part II applications totaling $9,914,750 in tax credits (that’s about $39 million in total project costs).
According to Jennifer, that’s about the number her office had previously received over the course of a full year.
The campaign to increase the state historic rehabilitation tax credit (named “Revitalize West Virginia Downtowns”) was led by members of the Abandoned Properties Coalition (APC), a group that brings together people from across the state to take action on long-standing property abandonment issues.
Throughout the campaign, members of the APC toured the state to get the word out about the value of historic preservation for West Virginia communities, attracting more than 200 people to regional forums.
Although the original bill to increase the tax credit did not make it through the 2017 Regular Session, it was able to quickly rebound to make it across the finish line during a special session later that year.
Former APC Coordinator Nicole Marrocco was honored by the National Trust for Historic Preservation for the role she played in the success of the campaign.
Want to learn more about the state historic rehabilitation tax credit?