from Herrin for Mayor’s BOROUGH BRIEFS, October 31, 2017
Arguably, the UPTOWN! Knauer Performing Arts Center would not have been possible without the federal Historic Tax Credit (HTC). It’s the most significant investment the federal government makes toward preserving historic buildings, and it was a key financial incentive for investors who helped make UPTOWN! possible for our community.
Unfortunately, several tax reform proposals circulating in Congress recommend a repeal of the HTC – even though it stimulates economic growth and returns more to the Treasury than it costs, according to the National Trust for Historic Preservation.
The HTC is an important tool for West Chester, as we work together to preserve our history. Without it, historic rehabilitation projects can face lender and investor bias because they often have higher costs and greater design challenges.
Add your name to the National Trust for Historic Preservation’s campaign to save the HTC and protect West Chester’s historic brand! Sign on here. Thank you!