House passes historic preservation program legislation

House Bill 42 (Freeman, D-Northampton) provides grants to owners for up to 70 percent of the costs of exterior rehabilitation or restoration work that meets the criteria for historic properties with a maximum reimbursement of $15,000. The legislation also provides tax credits up to $500,000 to owners who are restoring commercial properties.

For a property to be eligible for a grant, it would have to be listed on the National Register of Historic Places, exist as a contributing property in a National Register historic district, or be located in a local government historic district.

The legislation stipulates that at least 31 percent of the total grant money reserved for the program be used for residential applicants, and that DCED take into consideration the geographical distribution of grant funding when making awards. It also would allow for properties in Elm Street, Main Street, enterprise zones and local government historic districts to be given priority.

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Tags: financial, grants, historic, homeowners

This entry was posted on Friday, June 26th, 2009 at 11:21 am and is filed under Government Affairs. You can follow any responses to this entry through the RSS 2.0 feed.