YOUR SUPPORT IS NEEDED TO FURTHER HISTORIC PRESERVATION DEVELOPMENT IN CONNECTICUT
Virtually all of the recent Hartford projects that have transformed vacant buildings into residential units – including Spectra Boutique (Hotel American), Capewell Lofts, Capitol Lofts, and the 179 Allyn Street (Judd & Root Building)- would not have happened without this important economic development tool.
Important benefits of the Historic Tax Credit program:
- For every $100 invested in rehabilitating an historic building, $83 ends up in Connecticut workers pockets (1)
- Historic tax credits are redeemed after the entire project is completed and the work is approved by the State Historic Preservation Office.
- Even before a project is completed, the city and state receive a return on investment through job creation, permit fees and payment of sales tax on materials.
- The tax credit has been used extensively to promote the redevelopment of long vacant buildings which, in turn, revitalizes neighborhoods and towns and increased local tax revenues.
- Email the members of the Commerce Committee urging them to support this bill. (Go to https://www.cga.ct.gov/ce/ and click on Committee Membership for links to Committee Members legislative pages and Contact Me links)
- Contact your Senator and Representative to let them know that the Historic Tax Credit program is critical to the economic health of all the cities and towns in Connecticut.
HISTORIC PRESERVATION FUNDING RESTORED
. . . for now
Word was received late February 15 that Community Investment Act (CIA) funding will be restored. Unfortunately, our past experience has been that funds end up being swept into the General Fund later in the budget process.
This is just the beginning of the biennial budget process. Over the next four months, the Appropriations and Finance Committees and legislative leaders will begin crafting a biennial budget that will require the support of both chambers and Governor Malloy. We must continue to protect the CIA from any additional cuts.
We also strongly suggest that you communicate your support for full CIA funding to your local Senator and House Representative as cuts to CIA funding impact every city and town in Connecticut.
Our mission is to revitalize the historic fabric of Hartford,
connect us to our heritage and
collaborate to impact community economic development
by providing historic preservation and revitalization technical assistance, education and advocacy for those who live and work in Hartford.
HPA Executive Director Frank Hagaman presented Historic Preservation: The Foundation for Community Economic Development at the 2013 TEDx Bushnell Park event.