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Tax credits for historic properties possible

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State officials providing ‘simple process’ form, eligibility information

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BECKLEY, W.Va.  — Acquiring tax credits for historic properties is easier than many people expect, says a tax-credit program coordinator with the West Virginia Historic Preservation Office.
“It’s a simple process that’s really a matter of completing one form,” Jennifer Brennan of the WVHPO said during an presentation in downtown Beckley’s national historic district March 26.
Speaking to a group of 15 business owners and three members of the Beckley common council, Brennan said owners of historic properties in Beckley’s downtown historic district are eligible to receive credits of up to 30 percent for qualified construction, which may include projects such as wiring, plumbing, and the repair of historic windows.
Tom Sopher, a member of the Beckley Common Council who owns property adjacent to the district, said he thinks owners should consider taking advantage of the financing and thanked Brennan for her outreach to the city. 
“It looked like it was an easy form to fill out, and even the cost of hiring someone else to help fill out the form would be covered by the credit,” Sopher said.
Sasha Cantley, an owner of Tickety Boo Mercantile on Neville Street, said she was excited to discover how easy the process appeared to be.

“I’ve heard tales about how many hoops people have to jump through and was glad to hear it explained,” she said. “It’s just a matter of filling out a form.”

Brennan said her office has processed tax credits for historic rehabilitation projects valued as high as $5 million. Brennan can be contacted at the WVHPO at 1900 Kanawha Blvd E, Charleston, WV 25305;  (304) 558-0220; or [email protected]

The tax credit workshop was one in a series of programs being hosted by the Downtown Beckley Business Association, members of which are working to attract economic development to the downtown’s historic district.

Downtown building owners are also eligible for grants that pay up to 50 percent of construction costs for national historic properties, and properties there benefit from the city’s architectural review program, which guarantees the sustained historic value of properties in the district.

Princeton architect Todd Boggess will address the April 23 public meeting, during which he will discuss the adaptation of downtown properties for uses that concern the possible development of a southern campus for West Virginia University.

For more information on the workshops and the business association, call David Sibray at 304-575-7390 or Jim Chambers at 573-4332.

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