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State Historical Society of Iowa Press Release

For immediate release July 2, 2010

Contact: Jeff Morgan, Jeff.Morgan@iowa.gov, (515) 281-3858

Historic Preservation Tax Credit applications due July 15

(DES MOINES) – The State Historic Preservation Office issued a reminder notice today that the application deadline for Fiscal Year 2013 Historic Preservation and Cultural and Entertainment Tax Credits is July 15, 2010.

Applications are due in the State Historic Preservation Office by 4:30 p.m. Thursday, July 15, 2010. This is not a postmark deadline. SHPO is located in the State Historical Building, 600 E. Locust Street, Des Moines, Iowa 50319.

The application period began July 1, 2010. Applications and instructions are available online at www.iowahistory.org. SHPO hours are 9 a.m.-4:30 p.m. Monday-Friday; closed Monday, July 5, 2010, in observance of Independence Day.

The Historic Preservation and Cultural and Entertainment Tax Credit program provides a state income tax credit of 25 percent of qualified rehabilitation costs for historic buildings. Owners of historic properties and developers use the tax credit to leverage private investment in adaptive reuse and preservation of Iowa’s historic buildings.

To date, the program has leveraged nearly $400 million in estimated or actual rehabilitation costs by private investors in Iowa communities toward improvements in Iowa’s historic resources. The program has attracted private investment to historic cores of cities and Main Street towns across Iowa, generated jobs, enhanced property values, created affordable housing and augmented revenues for federal, state and local governments.

The July 15, 2010, deadline applies to applications for tax credits from the New Permanent Jobs Fund, Cultural & Entertainment District-Great Places Fund, Disaster Recovery Fund, and the Statewide Fund.

Applications for tax credits from the Small Projects Fund are accepted year-round.

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The State Historical Society of Iowa is a division of the Iowa Department of Cultural Affairs, and is a trustee of Iowa's historical legacy and an advocate for understanding Iowa's past. It identifies, records, collects, preserves, manages and provides access to Iowa's historical resources. Its dual mission of preservation and education serves Iowans of all ages, conducts and stimulates research, disseminates information, and encourages and supports historical preservation and education efforts of others throughout the state. Visit www.iowahistory.org or call 515-281-5111 for more information.

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