|
Colorado's preservation tax credit
makes preservation possible across the Denver metro area, from the
Stanley Marketplace to Union Station, from Tammen Hall to the
Fruitdale School, and in your neighborhood! In 2014 Historic Denver
worked closely to improve Colorado's program and it passed with
overwhelming bipartisan support. It is now time to reauthorize the
program as HB 1190 and we are again working with our partners to
make sure this valuable preservation tool continues to serve our
communities.
Just last week the tax credit
reauthorization passed both House Appropriations and a vote on the
House floor, so now it moves onto the State Senate, where it must
also go through Committee. We anticipate that the Committee will
hear the bill this week, and with only a few days left in the
legislative session process, we need your help!
Please take five minutes to support the reauthorization of
Colorado's commercial historic preservation tax credit, HB 1190, by
e-mailing these two Denver-area Senators:
Senate Finance Committee
Senate Appropriations Committee
Here are some talking points:
- The
preservation tax credit pays for itself by putting vacant and
underutilized buildings back into service
- In
the metro-area, many of the preservation projects are focused
on turning vacant and underutilized buildings into affordable
housing. Two underway right now are the conversion of Tammen
Hall on the old Children's Hospital site into senior housing,
and the conversion of the 1st Avenue Hotel at 1st and Broadway
into affordable units with retail on the first floor. In both
cases the buildings have been vacant for many years but will
now provide housing right in the heart of the City.
Also, since the credit went into
effect in July 2015, $18.8 million in credits have been reserved by
52 projects. Those projects have/will result in:
- $13.2
million in sales tax to the state
- 808
new full time jobs with $34 million in payroll added
- $246
million increased property values.
This tax credit truly does cover
its cost to the state AND it has benefited communities in all parts
of Colorado. Visit historicdenver.org and follow our Facebook page
for information about how you can help and for updates on the
outcome of this important effort.
|
