The Jamestown Renaissance Corporation is co-sponsoring a Historic Tax Credit Workshop on February 15 for residents who reside in any of Jamestown’s three Historic Districts.
The free, virtual workshop will take place on zoom at 6:00 p.m., Wednesday, February 15 and the JRC also will have a space at City Hall where people can watch the presentation.
JRC Urban Core Director Frank Besse said the three historic districts in Jamestown include downtown, Lakeview district, and Forest Heights. He said those who choose to participate in the program can receive a tax credit on their New York State income tax, “You come up with a project and you have that project reviewed by the State Historic Preservation Office, or what we call SHPO. They approve it and the work is then done. And you will get some paperwork from SHPO that says, ‘Hey, you passed the test,’ and then that is given to your accountant and they do their magic. But basically, you’ll have a credit that’s 20% if it’s a residential property. 20% of the value of the work.”
Besse said there is a $5,000 minimum threshold to trigger that credit. He said if you don’t have a state income tax liability, that credit turns into a refund.
JRC Neighborhood Project Coordinator Mary Maxwell said the City is working on applying to the state to add a fourth historic district on the west side.
She said the Lakeview district, which was approved in 2017, has had $88,000 invested in properties. The downtown district, which was approved in 2014, has seen $27 million reinvested by those taking advantage of the historic tax credits.
Pre-registration is required for the workshop and can be done at PreservationBuffaloNiagara.org. Those who wish to attend the presentation in person, or who want more information, should contact Mary Maxwell at mary@jamestownrenaissance.org or call (716) 708-6964.
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