Walter calls for historic tax credit
Monday February 18, 2013 | By:Metro Source Staff | News
Assemblyman Ray Walter, R-Amherst, recently participated in the joint legislative budget hearing on Environmental Conservation and spoke with New York State Parks, Recreation and Historic Preservation Commissioner Rose Harvey about the status of the state’s historic preservation tax credit.
The $5 million refundable credit, which the governor has proposed extending through 2019, is used to make restorations to historic properties more affordable and was used for the work done at the Hotel at the Lafayette. Last year, the Assembly and Senate overwhelmingly passed an expansion of the credit up to $12 million, but the governor vetoed the bill.
“The historic preservation tax historicism played a key role in rehabilitating and revitalizing historic properties in our community,” said Walter. “By extending the program and increasing the cap on credits, we can make sure that great work continues for years to come. Speaking with Commissioner Harvey allowed me to illustrate just how important this program is to Western New Yorkers. I look forward to working with my Assembly and Senate colleagues to extend and increase this tax credit so that our communities continue to benefit from the economic and historic revitalization made possible by this program