Thursday, July 23, 2009

The case for rehab tax credits

Fine editorials in the Syracuse Post-Standard and the Schenectady Daily Gazette lay out the reasons the Governor should sign the bill to enhance the NYS Rehabilitation Tax Credit as a wise investment in strengthening communities across the state.

In some ways, this is a difficult time to advocate for any type of tax credit, but on the other hand, this is the time when it's needed the most. Similar programs in other states have demonstrated impressive returns, in the form of jobs, investment, tax revenues, and revitalization in communities that badly need it. Specifically targeted to historic buildings in economically struggling areas, this is a program that encourages investment where it makes the most sense: our communities' cores, where the infrastructure already exists, where reuse of existing resources is inherently green, and where we can avert the negative impacts of new development elsewhere.

Posted by Katie Eggers Comeau, Director of Preservation Services


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