Downtown Kannapolis, INC

Governor McCrory, Secretary Kluttz to celebrate restoration of Historic Tax Credits

historictax

SALISBURY, NC (WBTV) –

For months North Carolina Governor Pat McCrory and Cultural Resources Secretary and former Salisbury mayor Susan Kluttz toured the state in support of restoring Historic Tax Credits to the state budget, and despite some opposition from his own party, those credits did make back into the recently passed state budget.

The tax credit program expired last December and Governor McCrory’s office spent months  trying to convince lawmakers to restore it. Kluttz also visited dozens of communities to drum up support, including Salisbury, Kannapolis, Concord, Morganton, and many others.

The HTC is used by cities and towns of all sizes and provides an incentive to taxpayers who contribute to the preservation of historic buildings by rehabilitating them in a way that preserves the historic character of the building while allowing for new uses.

Since 1998, over 2,400 Historic Tax Credit projects have been completed statewide, bringing nearly $1.65 billion of private investment into North Carolina communities.

“Ladies and gentlemen before I sign any budget, I’m going to be looking for the historical tax credit in that budget,” Governor McCrory said while standing on a platform in front of the historic Gem Theatre in downtown Kannapolis in May.

“When we go into a community we celebrate successes, we celebrate good things that happened there because of tax credits and in most cases I hear this would not have happened without the historic preservation tax credit,” Secretary Kluttz added.

On Wednesday Governor McCrory and Secretary Kluttz will join lawmakers and elected officials in Burlington to celebrate the restoration of the HTC and to proclaim the day as “Historic Tax Credit Day” in North Carolina.