Do you own a historic home or commercial building, or might you be interested in purchasing one? Learn about a variety of financial incentives that are available for property renovations at a workshop on Wednesday, October 8th at 7:00 p.m. at The Wedge Innovation Center, located at 620 E. Broadway in Alton, IL which is co-presented by Alton Main Street, Alton’s Historic Commission, and the Alton Area Landmarks Association.
To assist existing and potential Alton residents and entrepreneurs to take the next step in upgrading their homes and commercial structures, these local groups have brought together State and local officials to present on programs currently available to assist in renovating existing structures and developing new construction.
Anna Margaret Barris, Project Reviewer for the State Historic Preservation Office, will present on:
- Property Tax Assessment Freeze Program for certified historic single-family, owner-occupied homes that undergo substantial rehabilitations
- Federal Historic Preservation Tax Credit Program which provides a 20% federal income-tax credit for owners of income-producing, historic buildings that undergo substantial rehabilitations.
Greg Caffey, Director of Planning and Development for the City of Alton, will present on:
- Tax Increment Financing (TIF) incentives for infrastructure improvements, land acquisition, site clearance and preparation, revolving loans and interest subsidies, building rehabilitation, and professional services
- Enterprise Zone incentives for jobs tax credits, utility tax exemption, sales tax exemption on qualified building materials, and potential property tax abatement, as well as Alton’s
- Commercial Facade Program which is available for commercially zoned businesses to improve the exterior facades of a building.
The event is free to attend, but reservations are appreciated at this link:
https://www.zeffy.com/en-US/ticketing/historic-renovation-tax-seminar
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