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$24.1 million in credits awarded to Iowa historic preservation projects

For more information contact:

Tina Hoffman, Iowa Economic Development Authority
Phone: 515.725.3150, mobile 515.783.8225
communications@iowaeda.com

$24.1 million in credits awarded to Iowa historic preservation projects

May 23, 2017 (DES MOINES, IA) – Today, tax credit awards totaling $24.1 million were announced for 12 historic preservation projects across the state. 

The Iowa Economic Development Authority (IEDA), in partnership with the Department of Cultural Affairs’ (DCA) State Historic Preservation Office (SHPO), administers the Historic Preservation and Cultural and Entertainment District (HPCED) Tax Credit program. The HPCED program provides a state income tax credit to projects for rehabilitation of historic buildings. The program is designed to promote the retention of unique, character defining buildings and building features that contribute to a community and neighborhood.  Rehabilitation must meet the federal Secretary of Interior standards.

For the April 2017 registration period, IEDA received 25 applications requesting $48 million in tax credits.  For this registration round, approximately $24 million was available for award. Projects are scored based on readiness, financing and local support and participation.

The next registration round for large HPCED tax credit projects (projects with qualifying expenses over $750,000) will be from October 2 through October 16, 2017.  Applications are submitted through taxcredit.iowa.gov.

For more information on the HPCED tax credit program, contact Dan Hansen at 515.725.3128 or daniel.hansen@iowaeda.com, or visit iowaeconomicdevelopment.com.

Media inquiries should be directed to Tina Hoffman at communications@iowaeda.com or 515.725.3150.

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Download a spreadsheet of today's awards:
iowaeconomicdevelopment.com/userdocs/IEDA/2017MayHPCEDAwards.pdf

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Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
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