Birmingham City Councilor Marcus Lundy Working To Keep the Historic Tax Credit in Place
The City of Birmingham is comprised of beautiful historic buildings, some of which have undergone several remodeling restructuring in the past twenty years. These renovations however would not have occurred without the historic tax credits. According to National Trust for Historic Preservation, for more than three decades, the federal Historic Tax Credit has successfully implemented a national policy of preserving our historic resources and is the most significant investment the federal government makes toward the preservation of our historic buildings. Despite a proven track record of stimulating economic growth and preserving our architectural heritage, the historic tax credit faces an uncertain future. As pressure builds to reform the nation’s tax code, several influential tax reform proposals recommend a repeal of this essential credit.
Birmingham City Councilor Marcus Lundy, Chair of Economic Development and Budget and Finance said said the historic tax credit is by far one of the best incentives for businesses that look to expand their territory.
“Our nation is built on revitalizing structures that are currently in place,” Councilor Lundy said. “Citizens need to know how important this matter is, and we plan to push for keeping the current components of tax credits in place.”
This article is a contribution from Chiara Perry (email@example.com) in the Birmingham City Council Public Information Office. For more information please contact 205.254.2294.