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Historic Building Rehab Can Mean Tax Breaks

Dustin Hahn, photos by Leah Dunbar

Historic Downtown Menomonie is more than just an impressive title: It’s an invitation for building owners who rehabilitate their historic properties to receive special benefits. Owners of eligible properties are able to take advantage of both federal and state income tax credit programs towards the rehabilitation of their buildings. These programs are available to owners of properties listed on the state or national registers of historic places or located within historic districts. Both the Federal Historic Tax Credit and the Wisconsin Income Tax Credit programs offer returns of 20 percent of the cost of the project for a total tax credit of 40 percent! The Regional Business Fund from the West Central Wisconsin Regional Planning Commission also offers zero percent fixed interest loans to historic property rehabilitation projects. If you are planning a project or you would just like more information, Main Street of Menomonie Inc. is hosting a workshop to discuss these tax credits and loan options. There will also be guest speakers from the Wisconsin Historical Society and the regional planning commission. The workshop will be at the Mabel Tainter Center for the Arts in downtown Menomonie from 8-10am on Thursday, April 24. Attendees are asked to RSVP to Joanie Dulin at 715-235-2666 or at mainstreet342@wwt.net.