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Council endorses state historic tax-credit bills after Tibbits Opera House presentation
Summary
Council voted to send a letter or resolution supporting proposed Michigan historic-preservation tax-credit legislation; Tibbits Opera House executive director detailed how larger caps and category separation would aid rural and nonprofit projects.
The City Council on Aug. 11 voted to send a letter or resolution supporting two Michigan House bills that would expand and modify state historic-preservation tax credits, following a presentation from Christine Delaney, executive director of the Tibbits Opera Foundation.
Delaney told the council that the tax-credit program helps fund expensive historic restorations and that the proposed bills would raise project-size caps and create separate funding categories so rural and nonprofit projects are not competing directly with large urban developments. She said the prior reinstatement of the credits in 2020 included a $5 million cap and a 25% credit; the proposed changes would raise the credit percentage and increase the cap to allow larger projects to participate.
Council moved to adopt a resolution of support (Resolution 2578) and voted in favor by voice vote. Delaney said Tibbits has invested about $4.3 million in the theater over 20 years and described the tax credits as a non-grant financing tool that becomes available after investment.
