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Diane Shelton

(314) 497-4685
DShel80907@aol.com
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Save the Historic Tax Credit

At this very moment, the Historic Tax Credit (HTC) is threatened by the Senate’s Economic Development committee substitute for SB45, which will cap the Historic Tax Credit at $150 million. Such a cap will undoubtedly substantially reduce the effectiveness of the program, which relies on freely available credits in order to function.

  • The Historic Tax Credit serves as an economic engine to the state. Each year, the benefits of the HTC far exceed direct cost, boosting Missouri’s economy. $4 MUST BE SPENT BEFORE $1 OF CREDIT IS ISSUED and the state gets more: $1.50 in state and local taxes for every $1 spent in credits plus the employment impact on local communities.  (MDNR/Rutgers study, 2001)
  • Missouri needs jobs. This program creates construction jobs. The HTC has driven down unemployment by creating over 40,000 jobs since its inception in 1998.  (Rypkema report 2008)
  • The Historic Tax Credit program serves as a model for the country. Missouri has become a leader in generating jobs with historic preservation as a direct result of the HTC program. It is the ultimate in GREEN DEVELOPMENT PROGRAMS; the Wall Street Journal declares that Missouri’s HTC is the “BEST IN THE NATION”.
  • Capping the Historic Tax Credit will damage our communities, our banks, and employment. Not only will such action potentially halt current projects, but it will stop the purchase of buildings and banks providing loans for those buildings. It could potentially hurt the banks involved in project loans and continue the already deep economic downward spiral.

TO TAKE ACTION TO PREVENT DESTROYING THE HISTORIC TAX CREDIT CLICK HERE.

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Posted in: investment, Market Watch, Real Estate News Tagged: cap, employment, historic tax credit, investment, jobs, missouri, model, program, take action

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Still LOVE my home – thank you!!

Lynn B. Ballwin, Missouri

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Thanks Jim. I was prepared for a miserable experience. You took the worry and tension out of selling.

John Walsh Seattle, Washington

default image

We had the best experience during the purchase of our first home with Jim. We love it. One of my best friends is a Realtor and I have already told her that when I move, Jim Hurley is the one I work with.

James Fagan Ballwin, Missouri

default image

It was our first home and we spend several months looking. Jim never lost patience. He spent hours educating us and helping us through the process. He’s always smiling and positive…. Linda and Steve Green St. Peters, Missouri

Linda and Steve Green St. Peters, Missouri

default image

I wasn’t really considering buying a new home but one I had looked at before we bought the last one, which I loved, came on the market. I called Jim and we moved 45 days later with no problems. He really cares about the people involved in the process.

Tina and Tom Shinner Kirkwood, Missouri

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