Tax credits offer incentive for historic preservation projects - KWWL - Eastern Iowa Breaking News, Weather, Closings

Tax credits offer incentive for historic preservation projects

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Associate Planner for the City of Waterloo Adam Poll said federal and state tax credits can offset up to 45 percent of the costs related to historic preservation. Associate Planner for the City of Waterloo Adam Poll said federal and state tax credits can offset up to 45 percent of the costs related to historic preservation.
WATERLOO (KWWL) -

A handful of buildings downtown Waterloo have been restored.

With the rehabilitation of older properties, there can be significant tax credits.

In fact, Associate Planner for the City of Waterloo Adam Poll said federal and state tax credits can offset up to 45 percent of the costs related to historic preservation.

"Historic preservation is important because it does allow us to preserve these landmarks and allows us to preserve the culture of this city," said Poll.

Poll said maintaining the character of older properties can be costly, but pay off.

"They're able to say they recognize this building or that building, and that really helps out with a sense of neighborhood identity and civic pride," he said.

Meanwhile, a federally funded organization, Silos and Smokestacks, calls the second floor of the historic Fowler Building home.

The Fowler Building first served as a produce center and supplied fresh vegetables to area restaurants.

"We preserve and tell the story of American agriculture, and the Fowler building was involved in early American agriculture, so we're a natural fit. And versus a brand new location, we feel at home here," he said.

Poll said the City of Waterloo receives two or three applications a year for historic preservation projects and properties looking to be placed on the National Register of Historic Places.

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