Groups push to protect Minnesota Historic Tax Credit | www.WDIO.com

Groups push to protect Minnesota Historic Tax Credit

WDIO
Updated: May 28, 2021 05:41 PM
Created: May 28, 2021 02:54 PM

The Minnesota Historic Tax Credit could sunset at the end of June. But groups are pushing to have it included in the omnibus budget bill.

Mark Laverty, developer of Saturday Properties, shared that the tax credit was key to the financing for the apartments at the Old Historic Central High School. "Investors buy these credits, and are ultimately making an investment in the project itself. Without the Historic Tax Credit, this whole revitalization wouldn't be happening."

Construction is set to begin this fall, turning the former school into apartments. "We just received word on Wednesday that we are grandfathered in, for the tax credit. But there's so many other buildings that could take advantage of this," Laverty added.

And for more info about the apartment project at historic Old Central called Zenith:

https://www.zenithdchs.com/

If you want to sign a petition and get the word out to your lawmaker:

https://shar.es/aWnohW

Copyright 2021 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

Crews recover body of man who went overboard on Big Sandy Lake

Lake Superior Squadron achieves major milestone of restarting World War II era plane

Mudcat Grant, star pitcher on Twins' 1965 World Series squad, dies at 85

New places to dine and shop coming to Miller Hill Mall

Minnesota COVID-19 Update Saturday

Up to 30 people displaced after Nashwauk apartment fire