Tax Credit Eyed As Spur To Urban Redevelopment
A proposed Massachusetts incentive would offer tax credits for rehabilitation of buildings older than 50 years.
"A bill making its way through the Legislature would establish a 30 percent tax credit for developers who turn decrepit buildings that are more than 50 years old into residential or commercial space. Rhode Island used a similar credit to encourage renovation of old buildings in downtown Providence. The credit provided by the proposed state Real Estate Investment Act would be in addition to a federal tax credit that is available to developers engaged in historic rehabilitation."
Thanks to Anthony Flint
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Published on Monday, June 30, 2003 in
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