Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Historic Preservation topic
No spam. Unsubscribe anytime.
Council hears presentation on West End Cultural District expansion and tax-credit incentives
Summary
City staff presented a proposed expansion of the West End Cultural District and explained how the designation increases tax-credit incentives for rehabilitating historic commercial buildings and supports artists selling original works within the district.
City staff and community representatives presented an application to expand the West End Cultural District and outlined tax-credit and development incentives the designation brings.
Presenter Jane Brown said the packet before the council includes the state presentation and a map showing the existing district in blue and the proposed expansion in red. She told the council that the state increased the percentage available under the program (the packet and presentation referenced an increase from 25 percent to 35 percent for rural communities), which improves the tax-credit economics for property owners rehabilitating commercial buildings in the district. Brown also said qualifying artists selling original, one-of-a-kind works within the district may be exempt from local taxes on those sales; she noted the state has modified prior rules and artists now remain subject to a state sales tax (around 4.5 percent as referenced in the presentation).
Why it matters: Council members described historic-structure tax credits as a catalyst for private investment; staff said owners of eligible structures could pursue state and federal tax credits if buildings achieve historic-listing status in addition to state incentives.
Next steps: The council expressed support and thanked staff; the cultural district committee will continue to identify priority structures and pursue national-register listing and other grant opportunities that could leverage the tax-credit program.
