N.C. Department of Cultural Resources issues historic preservation tax credit alert

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Susan Kluttz, Secretary of the North Carolina Department of Cultural Resources, has issued a historic preservation tax credit alert to bring back the tax credit program in North Carolina. Kluttz stated in a Jan. 8 email she is leading a coalition of local elected officials, small businesses, developers, preservationists, downtown advocates, bankers, architects and others in a grassroots effort to appeal to legislators.

The North Carolina Historic Preservation Office states since 1998, projects using state and federal historic rehabilitation tax credits have brought nearly $1.5 billion in private investment into the state. The tax credits have helped to transform historic factories, hospitals, farms, houses and storefronts into office spaces, event venues and small businesses. The office states 2,483 projects in 90 of North Carolina’s counties have been helped by the historic tax preservation credit.

This tax credit was not renewed by North Carolina legislature in 2014, and expired on Dec. 31. To encourage legislators to revive it, Kluttz began a petition, found at www.historictaxcredits.org

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