Title
Resolution in Support of Legislation Reinstating State Historic Preservation Tax Credits: Senate Bill 54 and House Bill 4100
Memorandum
This is a resolution in support of state legislation that would reinstate State Historic Preservation Tax Credits.
The MI Impact Coalition, an initiative led by the Michigan Historic Preservation Network, is seeking to restore Michigan's historic preservation tax credits. They have provided the following information and the facts recited in the Whereas clauses of this resolution:
Unlike the federal historic tax credit, the state credit can be used on residential properties, which would help keep Ann Arbor's historic neighborhoods intact and preserved for future generations. It could also help make renovations of dormant commercial properties possible.
Staff
Prepared by: Christopher Frost, Senior Assistant City Attorney
Body
Whereas, The historic buildings, neighborhoods and places in Michigan villages, towns and cities distinguish each community and provide character and a sense of place that contribute significantly to the quality of life and the economic benefits enjoyed in and by each community;
Whereas, The preservation and rehabilitation of historic buildings, places and neighborhoods contributes to the beauty, character, and economic vitality of Michigan communities;
Whereas, The labor-intensive nature of historic rehabilitation creates jobs and investment in local businesses and has been proven to generate more economic activity than equivalent investment in new construction;
Whereas, Demolition or destruction of historic buildings creates costs to Michigan and its communities by destroying the often-irreplaceable construction and ornamental materials of each structure and by adding significantly to landfills, whose makeup is estimated to be more than 40 percent building materials and waste;
Whereas, Development and redevelopment within established villages, townships and cities is encouraged by Govern...
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