[OMS_MANAGERS] How you can help stop the proposed Historic Tax Credit repeal

[Peggy Moretti]

Dear Oregon Main Streeters!
The single-most important financial tool that exists to help pay for rehabs on historic buildings would be wiped out if the proposal in the House Ways & Means Committee moves forward.  This shortsighted proposal would wipe out the Federal Historic Tax Credit, which has proven its worth by generating $109B in private investment, created 2.4M jobs, and adapted nearly 39,000 historic buildings for productive use across the U.S.  To make sure it doesn't, please join Restore Oregon in signing the petition opposing it (see below).

The Historic Tax Credit is a 20% federal income tax credit for the cost of building rehabilitation.  And incidentally, you may have heard that Restore Oregon is launching an initiative that would match the federal credit with a state income tax credit, increasing the help for Main Street building owners.  34 other states have a state rehab tax credit and it has proven to be very effective economic development tool.  Check out our special report, "Revitalizing Main Street<http://restoreoregon.org/rehab-tax-credit/>" to learn more.

We'll provide more insights on tax credits at the Oregon Main Street conference in the fall.  In the meantime, we must protect the tools we have!

Peggy
Peggy Moretti
RESTORE OREGON<http://www.restoreoregon.org/>
503 243-1923

From: Renee Kuhlman [mailto:RKuhlman at savingplaces.org]
Sent: Friday, February 28, 2014 1:50 PM
To: partners-L at lists.nationaltrust.org
Cc: Shaw Sprague
Subject: RE:[partners-l] How you can help regarding proposed Historic Tax Credit repeal


Below are ways you can help:



1. Have your preservation organization sign onto the organizational sign-on letter.

http://www.preservationnation.org/take-action/advocacy-center/additional-resources/Preservation-Partners_Organizational_Sign-On_Letter_re_Camp_Repeal.pdf

As you may have already heard, the chairman of the House Ways and Means Committee - Rep. Dave Camp (R-MI) - released a discussion draft tax reform bill on February 26th that has called for the repeal of the historic rehabilitation tax credit.  In response, the National Trust is spearheading an organizational sign letter (attached) that calls for not only retaining this all important financial incentive, but also trying to improve it.

We hope that your organization will stand united with the National Trust and the preservation community in opposing this proposal.  If you would like to support this request to the chairman and ranking member of the Ways and Means Committee, please send your approval to add just your organization's name to the sign-on letter to cwolf at savingplaces.org<mailto:cwolf at savingplaces.org> or call Carl Wolf at 202-588-6254.  In order to deliver this letter to Members of Congress in time for Preservation Lobby Day, we will need a response from your organization by Tuesday, March 4th.

2. Ask your local preservation partners, Main Street communities, etc. to join you in signing onto the organizational sign-on letter.

3. Resend out this e-alert to your own members http://my.preservationnation.org/site/Advocacy?pagename=homepage&id=825 ... or send one with a similar message.

Thanks much, Renee


Renee Kuhlman | Director, Special Projects, Government Relations and Policy
P 540.951.1661 or 202.588.6234 F 202.588.6462

NATIONAL TRUST FOR HISTORIC PRESERVATION
2600 Virginia Avenue NW Suite 1000 Washington, DC 20037
www.PreservationNation.org<https://mymail.nationaltrust.org/owa/redir.aspx?C=b0f1a80e62654ac0b2d2c631f6e7944d&URL=http%3a%2f%2fwww.PreservationNation.org%2f>



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