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$21.9 million in credits awarded to Iowa Historic Preservation Projects

(MGN)
(MGN)(WTOK)
Published: Jul. 6, 2020 at 3:13 PM CDT
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DES MOINES, Iowa (KWQC) - Nearly $22 million in credits has been awarded to historic preservation projects across Iowa.

The Iowa Economic Development Authority (IEDA) registered 15 projects to receive state Historic Preservation tax credits, including projects found in Burlington and Muscatine.

Those historic buildings include: The Hershey Building in Muscatine, the McConnell Building and John Blaul & Sons in Burlington.

IEDA said it received 23 applications requesting $33 million in tax credits during the May 2020 registration period. Approximately $22 million was available for awards this registration round. Projects were scored based on readiness, financing, local support and participation.

The Historic Preservation Tax Credit Program provides a state income tax credit to projects for rehabilitation of historic buildings. The program is designed to promote the retention of the unique character these buildings have. The rehabilitation must meet the federal Secretary of Interior standards.

IEDA administers the Historic Preservation Tax Credit Program in partnership with the State Historic Preservation Office.

For more information about the Historic Preservation and Cultural and Entertainment District Tax Credit program, you can visit iowaeda.com.

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