Downtown Lansing recently landed on the National Register of Historic Places, which expedites the process for commercial building owners in the district who want apply for federal historic preservation tax credits.
Brian Anderson, with the City of Lansing’s Economic Development Corporation, says the designation helps speed up the process developers need to take to obtain federal historic tax credits when rehabbing a building.
“It saves time and money for getting those credits,” Anderson says.
Essentially, the designation impacts the buildings sitting on a 16-block area of Downtown Lansing. The district includes the area of Washington Square, Grand Avenue Capitol Avenue, Michigan Avenue, Allegan Street, Washtenaw Street, Kalamazoo Street, Lenawee Street and Townsend Street.
The Lansing Economic Development Corporation received a $15,000 matching grant with the State of Michigan to hire a consultant to help with the application process.
Source: Brian Anderson, Lansing Economic Development Corporation
Ivy Hughes is the managing editor of Capital Gains and can be reached here.
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