Local

Gov. McCrory joins bid to restore historic preservation tax credits

*NC Secretary of Cultural Resources Susan Kluttz’s name was misspelled in the video accompanying this story.

Cities across North Carolina, in conjunction with the NC Metro Mayors Coalition, are working toward the reinstatement of the Historic Preservation Rehabilitation Tax Credit program of the N.C. State Historic Preservation Office.

Concord Mayor Scott Padgett and City Council members have joined more than 4,400 people, who have signed an online petition supporting the efforts.

McCrory, who spoke to dozens at the Hotel Concord on Friday afternoon, and state Rep. Jon Hardister are pushing to reinstate the program during this session of the General Assembly.

The tax credit is used by cities of all sizes and provides an incentive to taxpayers who contribute to the preservation of historic buildings.

Since 1998, more than 2,400 projects have been completed statewide through the program, bringing nearly $1.65 billion of private investment into North Carolina communities.

In Concord, one downtown rehabilitation project is taking place because of the tax credit, and another potential project on adjacent property will only be possible if the program is restored, according to city leaders.

  Comments