Projects for Historic Rehabilitation Tax Credit Announced

In its examination of the popular Alabama Historic Rehabilitation Tax Credit, AL.com said Mobile’s former Gayfers department store across from historic Bienville Square and the Barton Academy school building are included in the latest round of applications. The latter is set to get $3.4 million in state tax credits, while the request for Gayfers is around $3.5 million. Past beneficiary properties in Mobile include the Admiral Hotel. The program fueled 52 projects and $334 million in investments during its first iteration in 2013-2016. Renewed in 2018, it is to fund approximately 93 programs by the end of 2021 with more than $500 million in historic building renovations in 15 counties. Though the program expires again at the end of the year, legislation to renew it for five more years easily passed the Alabama House of Representatives and awaits a vote in the Alabama Senate.