The head of the Iowa Economic Development Authority says state tax credits for the restoration of historic properties should no longer be available to Iowans who plan to live in the property.
Debi Durham says she reviewed the tax credits that were awarded in the past couple of years and a few — for a total of about a million dollars — went to “owner occupied” buildings.
OC……….their own remodeling.” :16
Durham’s recommending legislators pass a bill that would change the rules for the state’s historic preservation tax credits — so someone who plans to live in a property that’s fixed up is no longer eligible for a state grant.
OC………..business tied to it.” :18
Durham says the state should continue offering tax credits to non-profits that rehabilitate historic buildings into residential property, like apartments or condos or single-family homes.
She says that work is helpful to address Iowa’s housing shortage.