Tax Credit Eyed As Spur To Urban Redevelopment
"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