Agenda Date: 11/06/2018
Subject:
Title
A resolution authorizing the city, through the Historical Preservation Board, to act as a reviewing entity for the State Historic Preservation Income Tax Credit Program for qualifying rehabilitation projects under Colorado House Bill 90-103 (C.R.S. ?39-22-514, AS AMENDED)
Body
Presented By:
Andrea Mimnaugh, Historic Preservation Planner
REQUESTED COUNCIL ACTION:
Does city council support the city continuing to be a reviewing entity of the State Historic Preservation Income Tax Credit Program for qualifying rehabilitation projects pursuant to C.R.S. ?39-22-514.5, as amended?
BACKGROUND:
On May 14, 2018, the Governor signed into law House Bill 4-1311 (C.R.S. ?39-22-514.5, as amended), titled The Colorado Job Creation and Main Street Revitalization Act, extending the historic preservation income tax credit for the rehabilitation of qualified historic properties in Colorado.
The State Historic Preservation Income Tax Credit Program for rehabilitation of designated historic structures provides tax credits of 20 or 25 percent of qualified projects. This is a dollar-for-dollar reduction in tax owed to the state of Colorado. Under the Act, local governments may opt to review tax credit applications for projects within their jurisdiction. The City of Littleton has reviewed the applications since 1995.
In May, 2018, the state extended the tax credit program. In order for the city to continue to review applications at the local level, city council must pass a resolution stating the city will act as the reviewing entity for applications within its jurisdiction, in place of the State Historic Preservation Office.
PROGRAM OVERVIEW:
Eligible Properties
Eligible properties must be at least 50 years old and meet one of the following:
* Designated as an individual Littleton landmark
* Located in a Littleton historic district and designated as "contributing" to the historic district
* Located in Littleton and listed on the National ...
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