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Historic tax credit in danger | News, Sports, Jobs - Marshall Independent


cschuldt@nujournal.com
MINNESOTA For 11 years, the Minnesota Historic Tax Credit has created economic benefit across the state, but this credit is in danger of disappearing this year.
The Minnesota Historic Tax 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 created in 2010 during the height of the economic recession. The tax credit was one method to stimulate building projects. The non-profit Rethos works nationwide to repurpose old buildings and sites. ....

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