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McCrory: Reinstate historic tax credits

Gov. Pat McCrory spoke to dozens at the Gem Theatre in Kannapolis Thursday morning to push the General Assembly to reinstate the Historic Preservation Rehabilitation Tax Credit program of the N.C. State Historic Preservation Office during this session.
Gov. Pat McCrory spoke to dozens at the Gem Theatre in Kannapolis Thursday morning to push the General Assembly to reinstate the Historic Preservation Rehabilitation Tax Credit program of the N.C. State Historic Preservation Office during this session. ljohnson@charlotteobserver.com LUKAS JOHNSON

Gov. Pat McCrory visited the historic Gem Theatre in Kannapolis Thursday morning to encourage the General Assembly to reinstate the Historic Preservation Tax Credit program of the N.C. State Historic Preservation Office.

Kannapolis is purchasing more than 40 acres, including eight blocks of historic buildings. The city intends to resell the property to people who will redevelop the buildings. McCrory and local leaders say the tax credits are needed to attract private developers.

Concord and Kannapolis mayors are among those who want reinstatement of the tax credit, which supporters say has helped complete 2,400 projects in the past 17 years.

This story was originally published May 14, 2015 at 2:27 PM with the headline "McCrory: Reinstate historic tax credits."

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