cschuldt@nujournal.com
MINNESOTA The Minnesota Legislature will likely extend the Minnesota historic tax credit’s sunset date, but the length of that extension will depend on negotiation between the state House and state Senate.
The credit provides 20% reimbursement of qualified cost to redevelop properties listed on the National Register of Historic Places.
To qualify for the tax credit, a project must be on the National Historic Register, it must be income-producing, and it must be a substantial rehabilitation project.
The tax credit was originally created in 2010 during the height of an economic recession. The tax credit was one method to stimulate building projects.
Clay Schuldt
MINNESOTA The Minnesota Legislature will likely extend the Minnesota historic tax credit’s sunset date, but the length of that extension will depend on negotiation between the state House and state Senate.
The credit provides 20% reimbursement of qualified cost to redevelop properties listed on the National Register of Historic Places.
To qualify for the tax credit, a project must be on the National Historic Register, it must be income-producing, and it must be a substantial rehabilitation project.
The tax credit was originally created in 2010 during the height of an economic recession. The tax credit was one method to stimulate building projects.
The Minnesota Senate Tax Committee proposed a one-year extension and a $14 million cap to the state’s historic tax credit program, two features that advocates worry could hinder the rehabilitation of old buildings if implemented.
The extension and cap are included in the Senate’s omnibus tax bill, which will be discussed and altered during the upcoming conference committee with the House. The House’s version of its omnibus tax bill included an eight-year extension, which advocates say is among their best-case scenarios.
“Having the cap removed or moderating the cap in some way so that it will really reach the broadest amount of worthy projects every year would be our best-case scenario,” said Erin Hanafin Berg, policy director for Rethos, a St. Paul-based nonprofit advocating for the use of old buildings and the tax credit. “But … the very best-case scenario would be the Senate recognizes the importance of this historic tax credit, the same way that the House has and
Passage of tax credit for historic property repairs would benefit Faribault s downtown mesabitribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mesabitribune.com Daily Mail and Mail on Sunday newspapers.
125 Live holds health and wellnes fair
Sponsored by 125 Live, University of Minnesota Extension, and Olmsted County, the fair helped raise awareness about many different health and wellness topics
Posted: Apr 26, 2021 3:52 PM
Posted By: Jeremy Wall
ROCHESTER, Minn- Health and wellness are important for everyone. No matter how old people are, it s super significant to pay attention and care about, especially for people 65 and older.
On Sunday, People at 125 Live received some education on the topic. We re working very closely on vaccination hesitancy as well as other important factors for older adults in our community, said its operations director Ken Baerg.