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Tax Credits for 2011

November 20, 2009
The Davis County Board of Supervisors is pleased to announce the Davis County Courthouse Preservation Fund received notification from the State Historical Society of Iowa that tax credits for the year 2011 have been provisionally reserved for the rehabilitation of the courthouse building. 
The State Historic Preservation and Cultural and Entertainment District Tax Credit Program provides a state income tax credit for the sensitive rehabilitation of historic buildings.  It ensures that character-defining features and spaces of buildings are retained and helps revitalize surrounding neighborhoods.  The Program provides an income tax credit of 25% of qualified rehabilitation costs.  Rehabilitation work must meet the Secretary of the Interior’s Standards for Rehabilitation and Guidelines for Rehabilitating Historic Buildings.

The County Board of Supervisors, a government entity, may not apply for the state tax credit program.  The DCCPF applied as a private not-for-profit organization dedicated to historic preservation of the courthouse building and grounds.  Upon completion of the project and receipt of a tax credit certificate, the DCCPF may claim state tax credits in the amount of 25% of total qualifying construction costs completed within a given time period.

DCCPF is pleased to be in a position to help the citizens of Davis County and the general public benefit from the state tax credit program.  There comes a time in the life of any building when patching and repairs to the exterior skin are no longer sufficient to protect the structure. The terrible hailstorm of June 7, 2009 put the courthouse over the edge.  The DCCPF goal is to multiply the number of dollars provided by the insurance settlement, through application to various state and federal grant programs.  The entire building envelope must be rehabilitated and restored in order to ensure use and enjoyment of the courthouse for another 130 years.

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The Davis County Courthouse Preservation Fund is a 501(c)3 organization legally recognized by the IRS, and will be happy to provide necessary information to anyone who wishes to qualify for matching funds from their company. Please contact Linda Boatman at 312-848-4662, or desdir@aol.com, for further information and to answer any questions.