AUGUSTA — Maine lawmakers have prolonged a historic preservation tax credit score to attempt to rehabilitate properties in downtown areas.
The Maine Senate voted in late April to increase the sundown date for the Maine Historic Rehabilitation Tax Credit score from 2025 to 2030. Supporters of the proposal stated it might assist with inexpensive housing in addition to preservation of historic downtowns.
The tax credit score program offers incentives so companies, property homeowners and builders can rehab and reuse historic buildings within the state that produce earnings. Supporters stated it’s designed to encourage redevelopment of housing that’s positioned inside strolling distance of downtowns. That cuts down the necessity for brand spanking new constructing and dependence on vehicles.
Invoice sponsor Sen. Nate Libby, a Lewiston Democrat, stated the proposal is one step to handle an “inexpensive housing disaster that has solely gotten worse over the previous few years.”
Greg Paxton, government director of Maine Preservation, stated the tax credit score program boosts communities that “really feel satisfaction within the repurposing for present makes use of of the historic buildings constructed so effectively by our predecessors.”
« Earlier
Subsequent »
Associated Tales
Invalid username/password.
Please verify your electronic mail to verify and full your registration.
Use the shape beneath to reset your password. Whenever you’ve submitted your account electronic mail, we are going to ship an electronic mail with a reset code.