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Rehabilitation Tax Credits
Fri January 10, 2014
10 Landmarks Selected For Alabama Tax Credits
Ten landmarks have been selected for Alabama's new tax credits for rehabilitation projects.
The Alabama Historical Commission says more applications were submitted than the $20 million in tax credits that are available annually. The commission says 10 projects have qualified for 2014 tax credits and 10 more are on a wait list.
Applications were approved for four Birmingham projects: the Federal Reserve Bank, the Redmont Hotel, the Brown Marx Building and the Cain Furniture building. Also approved were the Norton-Cochrane-Fitts residence and the First National Bank building in Tuscaloosa, the Edwards Brothers Furniture building and the 951 Government Building in Mobile, the Jefferson Davis Hotel in Montgomery, and the Fort McClellan Headquarters and Barracks in Anniston.
Owners can claim tax credits for 25 percent of the eligible costs of rehabilitation.