Monday, April 30, 2018

Historic Denver

May News from Historic Denver

Take 5 Minutes Today to Support the State Preservation Tax Credit

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
Senator Lois Court,
Senate Appropriations Committee
Senator Angela Williams,

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 and follow our Facebook page for information about how you can help and for updates on the outcome of this important effort.