Preservation Kentucky
Welcome About Donate News & Events Partners Resources Contact
       

  

 

 

 

IMPROVE KENTUCKY's HISTORIC

PRESERVATION TAX CREDIT PROGRAM

BOOST KENTUCKY'S ECONOMY

 JOB CREATION!

Support Passage of HB 118

Make Historic Tax Credits Work for KY

Call Your Legislators today 800-372-7181

Tell them to support investments

that create local jobs and revenue!  

Background

 

  • The purpose of the Historic Tax Credit is to bring dilapidated buildings back to active occupancy, drive economic development, and create jobs.  Historic Preservation Tax Credits incentivize the investment of outside private capital in Kentucky and with eligible buildings in all 120 counties, this economic development and job creation tool must be returned to a functional program.  Nearly every bordering state has a more robust Historic Tax Credit Program than Kentucky, so the time is now for the Commonwealth to implement the reforms necessary for it to compete.

 

Why the Current Historic Tax Credit Program Does Not Work for Kentucky

  • Eligible projects typically receive tax credits amounting to only 7-9% of their Qualified Rehab Expenditures (QREs) due to demand far exceeding program capacity creating difficulties in the financing of projects. 
  • Project awards are often so small that developers abandon or substantially delay projects while seeking additional financing to cover the shortfall. 
  • Large transformative projects are not being incentivized due to pro-rated awards and the per-project cap. 
  • Bordering states such as Ohio, Missouri, Virginia, and West Virginia have much more effective programs: 
    • Ohio - $60 million program
    • Virginia and West Virginia - Uncapped programs

Current Historic Tax Credit Program in Kentucky

  • Projects are eligible to receive tax credits in an amount up to 20% of their QREs if they are a certified historic structure.
  • Annual Program Cap: $5 million in credits.
  • Project Cap: $400,000 per-project tax credit
  • Projects may only be submitted once per year due to an annual deadline, creating timing issues for the private sector.

Proposed Changes to Make Kentucky More Competitive

  • Reduces tax credit awards from 20% to 15% of their QREs to make the program economically feasible.
  • Removes the annual program credit cap, which would also eliminate the problematic program application deadline.
  • Removes the per project cap of $400,000 to incentivize larger catalytic projects.

              Supporting Businesses and Organizations

Preservation Kentucky  .  Main Street Revitalization

 .  KY Chamber of Commerce

AIA Kentucky  .  Greater Louisville Inc.  

Kentucky League of Cities

AU Associates  .  Marian Development Group  

Oracle Design Group  .  Model Group

The Catalytic Development Funding Corp. of NKY

_______________________________________________

 

ENDANGERED - HISTORIC RIDGEWAY

 Cynthiana, Harrison County KY

   This 1818 house has a significant place in Kentucky history and is one of the last remaining homes of its era and construction in the state. Its architectural significance is equally matched by its prominent social history having been the home of notable Kentucky officials and history   makers, and visited by guests of illustrious historical stature.  Visit the Friends of Ridgeway Facebook page and learn how you can help save this   Kentucky treasure here - http://www.facebook.com/FriendsOfRidgeway 

 

ENDANGERED - HISTORIC BAVARIAN BREWERY

Covington, Kenton County, KY

Listed in the National Register of Historic Placs, the 1903 Romanesque building at 522 West Main Street in Covington represents important eras in the city's economy before and after Prohibition.  It's location near ponds used to manufacture ice was important as refrigeration was critical to the fermentation process for lager beer. At the time, most breweries incorporated deep, extensive cellars to provide a cool environment for storing beer until it was ready for tapping. The Bavarian's location provided a ready supply of ice before refrigeration became common.

To help save the Bavarian, visit their site here - http://facebook.com/savethebarvarian

 

 

CONGRATULATIONS TO OUR 2014 PRESERVATION LEADER AWARD RECIPIENTS!

Dr. James W. Middleton, Jr. - The Linda Bruckheimer Excellence in Rural Preservation Award - for the restoration of the Frances Asbury Smith "McCandless House" in Munfordville, Hart County

Living Archaeology Weekend, Morgantown, Powell County - The Edith S. Bingham Excellence in Preservation Education Award - for excellence in traditional and nontraditional education

The Honorable Gregory D. Pruitt, Hickman County Judge Executive in Clinton, Hickman County - The Christy and Owsley Brown Public Service to Preservation Award - for leadership in public policy on the local and state level

Dr. Mark T. Wright, AIA, NCARB, Oracle Design Group, Inc. - The David L. Morgan State Historic Preservation Tax Credit Award, Commercial - for the renovation of the Beecher House Apartments in Somerset, Pulaski County

Natalie Wilkerson, Layne Wilkerson, Jim Glasgow and Ellen Glasgow - The David L. Morgan State Historic Preservation Tax Credit Award, Commercial - for the renovation of Noonan's Grocery in Frankfort, Franklin County

Mike and Pam Staun - The David L. Morgan State Historic Preservation Tax Credit Award - for the renovation of their home in Newport, Campbell County

Megan Funk, Elizabethtown, Hardin County - The Barbara Hulette Young Preservationist Award, Leadership Under 40 - for emerging leadership in the field of historic preservation

Don Pelly, Shaker Village of Pleasant Hill - The Ann Early Sutherland Green Preservation Award - for the environmental preservation of and educational programs for the Nature Preserve in Harrodsburg, Mercer County

Sarah House Tate, AIA, Lexington, Fayette County - The Helen Dedman Preservation Advocate Award - for professional and personal commitment of time and resources to further historic preservation across the state

Blue Grass Trust for Historic Preservation, Lexington, Fayette County - The Helen Dedman Preservation Advocate Award - for outstanding advocacy efforts to preserve Kentucky's historic treasures and restore the Commonwealth's more significant historic sites

Stuart F. Joynt, IV, Lost Art Stone Masonry, Winchester, Clark County - The Patrick Kennedy Preservation Craftsperson Award - for excellent traditional building craft techniques and skills on the restoration of historic dry stone fences

Nancy Turner, Executive Director, Winchester-Clark County Tourism Commission - Special Recognition for Leadership Excellence in Planning from Preservation Kentucky Staff and Board of Directors - for Preservation Pedal 2014 in Winchester, Clark County

Thank you Margie Jacobs, Chair,Special Events and Awards Committee, and committee members Grady Walter and Garlan VanHook for organizing a lovely garden party and special afternoon for our award recipients and guests!

Thank you award presenters Jess Correll, Edie Bingham, Ann Early Sutherland, Barbara Hulette, Johan Graham, Beth Johnson and Richard Taylor, Noel Turner and Richard Jett!

Thank you Ward Hall Preservation Foundation Chairman David Stuart and board members Connie Minch, Ken Wright, Stephanie Covington, Sue Toncray, Betty Hoopes, Tommy Druen, James Klotter, Anthony Eardley, Ron Bryant, Ann Bolton Bevins and Mary Bradley for hosting us at beautiful, historic Ward Hall!

 

FEATURED              

 

Ward hall Annual Meeting

You're invited!

Preservation Kentucky 

Preservation Leader Awards

and

Annual Meeting

Saturday, September 20, 2014

1 - 4 o'clock

Ward Hall

1782 Frankfort Road-U.S. 460 West

Georgetown, Scott County, Ky

                   

RSVP at rsvp@preservationkentucky.org or call 502.871.4570
Ward Hall is an 1856 Greek Revival Antebellum plantation home. Considered one of the finest examples of Greek Revival style mansions in the country, the building and its surrounding 40 acres are under the care of The Ward Hall Preservation Foundation, Inc. It operates as an educational and cultural center, and features beautiful decorative finishes and furnishings, one of the most intact pre-Civil War basements in the country, a garden and several original outbuildings. 



Order your Preservation Pedal Poster now!

Preservation Pedal Poster 2014

The official 4th Annual Preservation Pedal: A Bike Tour of Historic Winchester and Clark County Poster, which features the unique Preservation Pedal pennyfarthing logo and a historical ca. 1877 map of Winchester and Clark County, evokes a sense of whimsy and the soidity of time and place. This handsome poster is a rich terracotta color and is suitable for framing. It is the perfect souvenir to remember your ride and celebrate the heritage of Winchester and Clark County.

This very special poster was created by Kentucky designer, Hayward Wilkirson, exclusively for Preservation Kentucky. All proceeds benefit Preservation Kentucky.

Get one today!



Paducah

Kentucky Preservation Series: The fourth and final presentiation in the Kentucky Heritage Council's 2014 Kentucky Preservation Series, Preservation Tools and Strategies, will be in downtown Paducah on October 24-25.  Join the KHC and Preservation Kentucky for two days of nuts-and-bolts programming to assist historic preservation at the local level. The two day conference will include Preservation Kentucky's accredited course, Historic Preservation 101 for the Real Estate Professional - earn 4 hours of continuing education credit!  Learn more.  

 

 

2014 Highlights & Accomplishments >>


Become Member

Donate Online

   
   
Follow us on Facebook Follow us on Twitter Follow our Blog
© 2010 Preservation Kentucky. All rights reserved.