Historic Place Registry Could Help Downtown Jackson Redevelopment
Jackson City Council has approved the first reading of an application to have downtown Jackson listed on the National Register of Historic Places in their July 13 meeting.
Being listed in the national register would give state and federal tax credits to available downtown buildings. The registry was created in 1966 to recognize and protect properties of historic significance. In order for a building to be included in the classification it must meet one of these criteria:
- The site must be associated with an event that played a significant role in an area's history.
- The site must exemplify distinct characteristics of important architectural styles, or unique methods of construction.
- The site must be associated with the lives of individuals who played a significant role in an area's history.
- The site must have the potential to yield important information about an area's history or prehistory (i.e. archeology).
“This just puts another tool in the toolbox for redevelopment downtown,” said Cory Mays, Jackson Downtown Development Authority executive director.
For a private owner, the chief benefit of the listing is eligibility for a 20% federal investment tax credit. As of December 2020.
Michigan also reinstated its State Historic Tax Credits for both income-producing and non-income-producing residential historic properties. A historic property in Michigan can now qualify for a 25% state investment tax credit.