Politics

City urging state to resurrect historic tax credits

By Bill Moss, Published: January 18, 2015

Drawing attention to historic preservation projects that have worked in the past and a big one they hope will work in the future, the Hendersonville City Council are mounting a public effort to urge the revival of a historic tax credit program that ended on Dec. 31.

The General Assembly repealed the state Historic Rehabilitation Tax Credit Program and cities across the state are lobbying legislators resurrect it. During a visit from state Secretary of Cultural Resources Susan Kluttz, Mayor pro tem Ron Stephens and the council will advocate for restoring the program, which has stimulated $3.5 million worth of renovation work in Henderson County.

City Manager John Connet invited business, government and community leaders to join the mayor and council in the effort, which starts at 1 p.m. Thursday at City Hall and will continue on to the Grey Hosiery Mill. Although the tax credits have expired, the city was able to get a letter from the state Department of Cultural Resources certifying that the mill project would be eligible for the financial incentives. The City Council last year agreed to convey the property to a private partnership if the developer could create a viable project. The council authorized Preservation North Carolina to guide the effort.

The Hendersonville contingent has an ally in Kluttz. She is a former mayor of Salisbury, which has one of the state's largest inventories of well-preserved historic homes.

"The Historic Tax Credits brought jobs and economic development to rural towns and big cities across North Carolina," Kluttz said in a statement. "The rebirth of one abandoned downtown building has had a ripple effect throughout a community and often sparks a renaissance of development in nearby structures. In addition, these historic buildings and mills are an emotional tie to our heritage and exemplifies what makes North Carolina unique. These credits are critical for North Carolina's economic recovery.”

"The tax credits are taken after the projects are completed when the owners file their taxes," added Cary Cox, director of marketing for the Department of Cultural Resources. "No state monies are used upfront for these credits, but rather owners pay less at the time taxes are due. Historic Tax Credits have been used in 90 out of N.C.'s 100 counties, in both rural and urban areas. They boost local economies and create jobs, while preserving communities’ historic cores and our state’s priceless historic character."

The city of Hendersonville cited 10 historic preservation projects that have been done in Henderson County since 1976. The projects, address, date and amount invested:

• Andrews Building, 211 North Main Street, 1982, $35,000.
• Woodfield Inn, Greenville Highway, Flat Rock, November 1983, $600,000.
• Ripley-Shepherd Building, 218 N. Main St., 1992, $48,405.
• Mary Mills Coxe House, 1210 Greenville Highway, 1995, $290,000.
• Hendersonville Inn, 201 Third Avenue West, 2002, $328,000.
• East Flat Rock School, 101 East Blue Ridge Road, East Flat Rock, 2005, $1,830,094.
• Ripley-Shepherd Building, 218 W. Main St., 2005, $275,000.
• Charles Clayton House, 417 Spring Street, 2008, $29,087.
• James P. Gregory House, 910 Locust Street, 2011, $54,222.
• Carriage House, 1026 & 1028 Patton Street, 2011, $75,000.