Mainstreet Donaldsonville hosts state historic preservation director, historic tax credit director
Mainstreet Donaldsonville hosts State of Louisiana Mainstreet Historic Preservation Director and Historic Tax Credit Director on Thursday, March 13, 2014.
Mainstreet Donaldsonville is one of only 34 Mainstreet Louisiana accredited towns. Donaldsonville is Parish of Ascension town seat, is also the only Downtown Development District and Historic District and one of two Cultural Districts in Ascension Parish. The growth of local industries and plethora of national chain stores and enterprises are springing up on the Westbank of Ascension Parish.
To assist in preservation and reuse within this Historic District, Mainstreet Donaldsonville hosts State of Louisiana experts for Mainstreet and Tax Incentives. Leon Steele, Mainstreet Design Coordinator and Alisson Saunders, Tax Incentives Director on Thursday, March 13, 2014.
Personal appointments to your historic Donaldsonville building, from 10am – 4pm with these experts can be arranged by calling Missy Jandura at 225-323-2555. Rotary Club of Donaldsonville hosting these State experts at Café Lafourche from 12-1pm. Lunch is 15.00 and RSVP must be made by March 12, 2014 for new guests wishing to attend. Seating is limited.
The Louisiana Division of Historic Preservation administers the Federal Rehabilitation Tax Credit in conjunction with the National Park Service (NPS) and Internal Revenue Service and two State tax credits in conjunction with the Louisiana Department of Revenue. The purpose of tax credits is to encourage the preservation of historic buildings through incentives to support rehabilitation of historic and older buildings. Since the inception of the Federal Rehabilitation Tax Credit, Louisiana has been a leader in certified tax credit projects, generating over $2 billion in private reinvestment in Louisiana communities. The State Commercial Tax Credit has leveraged more than $350 million in private reinvestment in Louisiana Downtown Development Districts and Cultural Districts.
Any expenditure for a structural component of a building will qualify for the rehabilitation tax credit. Treasury Regulation 1.48-1(e)(2) defines structural components to include walls, partitions, floors, ceilings, permanent coverings such as paneling or tiling, windows and doors, components of central air conditioning or heating systems, plumbing and plumbing fixtures, electrical wiring and lighting fixtures, chimneys, stairs, escalators, elevators, sprinkling systems, fire escapes, and other components related to the operation or maintenance of the building. In addition to the above named "hard costs", there are "soft costs" which also qualify. These include construction period interest and taxes, architect fees, engineering fees, construction management costs, reasonable developer fees, and any other fees paid that would normally be charged to a capital account.