Wednesday, December 27, 2017

Historic Preservation Tax Credit Weakened

In Chicago and other cities that depend on the glow of restored historic buildings to lure tourists and create jobs, there were mixed emotions over the $1.5 trillion tax package that Congress approved Wednesday -- relief that legislators did not kill a major economic incentive for preservation, but uncertainty over the incentive's future impact because it's been weakened. The existence of the decades-old incentive, the federal historic preservation tax credit, was thrown into doubt last month when the House voted to abolish it. The final bill keeps the credit, but instead of allowing developers to reap its full 20 percent benefit when a restored building opens, as they can now, the credit will be parceled out over five years.

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Time, of course, is money. That means the credit could be less attractive to impatient investors who don't want to wait to cut their corporate tax liability.

That could make it difficult for developers to finance rehabs. Projects in down-and-out neighborhoods might not get done. Others might turn to cash-strapped state and local governments for subsidies.

Comments

Heaven forbid that the Congress ever strengthens anything that helps everyone, like strengthening the HTC.

#1 | Posted by PinchALoaf at 2017-12-27 07:25 AM

Front page on the MIGHTY Drudge Retort

woot, Woot, WOOT !!!

#2 | Posted by PinchALoaf at 2017-12-27 01:04 PM

What's that RINO Reagan doing on this thread? Everybody knows he said something bad about guns once, that he worked with Dems on 'compromise' and that his wife was old. if he were respected among Republicans it would have been because he shot somebody, he farted at Dems and had a hot wife who was grope-worthy...

#3 | Posted by catdog at 2017-12-27 05:14 PM

What's that RINO Reagan doing on this thread? Everybody knows he said something bad about guns once, that he worked with Dems on 'compromise' and that his wife was old. if he were respected among Republicans it would have been because he shot somebody, he farted at Dems and had a hot wife who was grope-worthy...

#3 | POSTED BY CATDOG

Hahaha -- exactly.

I would add that Reagan negotiated with terrorists (and should've been impeached, conversation for another day) ... but today's Republicans are happily in bed with America's enemies -- with Trump being Putin's bitch and all.

Here's one ... Reagan gave amnesty to illegals, but today's Republicans are just too much in love with America's white supremacists to give brown skinned people a break.

#4 | Posted by PinchALoaf at 2017-12-27 06:53 PM

Aside from having fun ripping Reagan's tarnished legacy, he did get the national HTC right -- thanks, Ronnie!

#5 | Posted by PinchALoaf at 2017-12-27 06:56 PM

Front page on the MIGHTY Drudge Retort

woot, Woot, WOOT !!!

#2 | Posted by PinchALoaf

Better pinch yourself to make sure you ain't dreamin!

#6 | Posted by donnerboy at 2017-12-27 07:06 PM

Better pinch yourself to make sure you ain't dreamin!

#6 | POSTED BY DONNERBOY

I give Rcade allot of credit.

People on the back page were saying this place is an echo chamber, but they're wrong. And the proof is Reagan's mug right here on the front page.

Big ups, Rcade!

#7 | Posted by PinchALoaf at 2017-12-27 08:14 PM

Better pinch yourself to make sure you ain't dreamin!

#6 | POSTED BY DONNERBOY
I give Rcade allot of credit.
People on the back page were saying this place is an echo chamber, but they're wrong. And the proof is Reagan's mug right here on the front page.
Big ups, Rcade!

#7 | POSTED BY PINCHALOAF

Is it $100 bucks a brown nose post WTH? Or is the front page all you get these days? ?

Rcade a great moderator! (lets see if I get richer lol, or a front pager my next thread)

#8 | Posted by PinkyanTheBrain at 2017-12-28 02:03 PM

Is it $100 bucks a brown nose post WTH? Or is the front page all you get these days? ?

Rcade a great moderator! (lets see if I get richer lol, or a front pager my next thread)

#8 | POSTED BY PINKYANTHEBRAIN

I don't mind your criticism.

But I will point that I've argued with him regarding Matt Taibbi being unfairly smeared by the #MeToo crowd (the #MeToo crowd is going too far) ... along with arguing with him over Twitter banning the far right-wing racists that moron Trump re-tweeted (I think Twitter is wrong) ...

If you feel strongly about something, say it or start a thread -- simple.

Also, not all my threads make it to the front page.

#9 | Posted by PinchALoaf at 2017-12-28 02:38 PM

@ Pink-Brain

What do you think of the HTC?

I'm no Reagan fan, but this is something that Reagan really got right -- something conservatives should be on like white on rice and totally brag about.

And it's a mistake that the tax bill doesn't strengthen the HTC.

#10 | Posted by PinchALoaf at 2017-12-28 02:42 PM

#9 I'm just giving you a hard time Pinch you take it well.... ;) Tell me you didn't shake your head and giggle a hair

Anyway HTC is a good thing, the city I live in has used it.... Very mixed results though, most spots have just turned right back into the ____holes they were. A couple have turned the whole area around and now it flourishes, so with what I've seen I think making them wait for the returns might force them to make sure the areas they redo stays attractive longer and has a better chance of success. Just my opinion based of what I've seen. How about where you live?

#11 | Posted by PinkyanTheBrain at 2017-12-28 02:56 PM

@ Pinky

I giggled ... you, Dix, Mad Sci = big ups ("crotch fruit" was recently used by another poster, which is nice) ...

Where I'm at (IA) the HTC is a huge deal, and trust me when I say my state needs all the freaking help it can get.

At least a dozen old warehouses, old factory buildings, and other abandoned apartment buildings (the building I live in was built over 100 years ago) within a two block radius of where I live have been converted into living spaces ...

Which has attracted about the same number of eateries, breweries, with a couple of small bohemian-like music venues thrown in for good measure ... and even the businesses that were already in place have upgraded their exteriors ... and that's just in my immediate neighborhood -- other parts of my local area have been taking advantage of HTC.

10 years ago when I moved back, people who knew me were like "you're crazy for living there, you're gonna get your ass shot!". So all the positive changes have been fun.

I know it's corny and cheesey -- but a little hometown pride, ya know?

#12 | Posted by PinchALoaf at 2017-12-28 04:09 PM

Where I'm at (IA)

I know it's corny and cheesy -- but a little hometown pride, ya know?

#12 | POSTED BY PINCHALOAF

That's not cheesy... that's what makes places worth saving......

I'm in NE, so Idiots Out Walking Around (lol sorry had too)... isn't to far....Hawkeyes or Cyclones? I'm guessing Central IA (Iowa City or Des Moines), since I know they've been doing the most HTC... what area you from?

#13 | Posted by PinkyanTheBrain at 2017-12-28 05:24 PM

I'm in NE, so Idiots Out Walking Around (lol sorry had too)... isn't to far....Hawkeyes or Cyclones? I'm guessing Central IA (Iowa City or Des Moines), since I know they've been doing the most HTC... what area you from?

#13 | POSTED BY PINKYANTHEBRAIN

I prefer to not say, but I will say that I was twice stationed at Offutt AFB while a member of the USAF, and I miss the old Rosenblatt Stadium where I got blasted on the bourbon I snuck in during the College World Series back in the early '90s ... and Hawkeyes over the bright neon colored pajama wearing Cyclones, veterinarians belong with the pooches and not on the gridiron.

Glad I'm not a cornholer from NE! Hahaha!

;)

#14 | Posted by PinchALoaf at 2017-12-29 05:47 AM

I was twice stationed at Offutt AFB while a member of the USAF, and I miss the old Rosenblatt
#14 | POSTED BY PINCHALOAF

If that's the case there is a good possibility we probably know a few people in common, and possibly have crossed paths.

Yeah, the new stadium is nice(they did that to revitalize downtown), but took the soul out of the CWS in my opinion.

#15 | Posted by PinkyanTheBrain at 2017-12-29 08:11 AM

Yeah, the new stadium is nice(they did that to revitalize downtown), but took the soul out of the CWS in my opinion.

#15 | POSTED BY PINKYANTHEBRAIN

Rosenblatt being torn down was tragic, just a shame.

I remember Offutt would send a bunch of us in early March to help Henry Doorly Zoo with their spring cleaning (picking up trash, painting fences, moving mounds of dirt) ... we would then sneak away in the early afternoon to Starsky's Lounge on 13th St, across from The Blatt, and drink beer the rest of the day. Old Man Starsky was still around, he must've been 125 years old.

When I left Offutt (the first time in '92) that area around Blatt/Zoo was really coming along -- too bad it didn't last because that's the sort of non-new/non-shiny but very cool-bohemian-like surroundings I like hanging out in ...

Then there was the Dubliner Pub in the Old Market, cool underground place ... and it had to be one of the loudest most crowded bars ever, and I would always wonder if there was a fire how we would all save ourselves.

I know that corporate money was what doomed The Blatt, but the downtown was still pretty raw and industrial back in the early '90s, and I now understand that the same corporate money did a good job developing the downtown area ...

I'll always say that Omaha doesn't get the respect it deserves.

#16 | Posted by PinchALoaf at 2017-12-29 11:18 AM

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