Council to draft resolution in support of keeping federal preservation tax credits
NC GAZETTE / WBRT RADIO
STAFF REPORT
Tuesday, Nov. 7, 2017 — The Bardstown City Council members voiced their concern Tuesday about the proposed tax reform bill introduced in the U.S. House of Representatives that would eliminate federal historic tax credits, which are important incentives that encourage rehabilitation and re-use of historic properties.
Kentucky is the sixth-biggest user of the federal historic tax credit, Mayor Dick Heaton told the council.
From 2001 to 2016, the tax credit was used in 345 projects in Kentucky, totaling $558 million in development costs, according to information provided by the Kentucky Heritage Council.
Councilwoman Kecia Copeland speaks about the possible loss of federal historic preservation tax credits.According to a recent Insider Louisville article, a total of $92.7 million in federal historic tax credits were issued, and the resulting projects generated $112 million in local, state and federal taxes. The projects also created 9,583 construction jobs and 5,048 permanent jobs, according to the KHC.
Councilman David Dones said he was very concerned at plans to eliminate the tax credit. He suggested that the council consider drafting a resolution expressing concern the cut will negatively impact our community.
“Its very important we do something about this,” Buckman said.
“Its one of the reasons why our historic district is so well preserved and our the city has the appearance it does,” he Mayor Dick Heaton said. The loss of the tax credits would be “a big setback” for our community, he said.
City Attorney Tim Butler and Mayor Dick Heaton speak prior to the start of Tuesday’s council work session.
Councilwoman Kecia Copeland encouraged the council members to contact their peers in other city governments and ask them to add their voice to others in Kentucky who support keeping the preservation tax credit.
The council unanimously voted to draft a resolution to express support for preserving the federal historic preservation tax credits.
In other business, the council:
— approved a $7,403.22 change order to close out an improvement project at the city’s water treatment plant;
— heard that Bardstown Police Chief Kim Kraeszig has hired two new assistant chiefs who will bring a combined 44 years of experience to the department. Capt. C.D. Marksbury is moving back to his previous position as part-time evidence technician, Kraeszig said.
The new officers will be introduced at next week’s council meeting.
NEXT UP. The council will meet at 7 p.m. Tuesday, Nov. 14, 2017, in the council chambers next to the Bardstown Rec. Center.
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