04-1145Council File # Q��,.�J
Green �heet # 2t>�7'1
Presented
RESOLUTfON
CITY OF SA{NT PAUL, MtNNESOTA Zrj
Refeaed To Committee Date
Support for Historic Preservation 5tate Tas Credit
1 WHEREAS, the City of Saint Paul is the Capitol City and has many commercial and residential structures that are
2 historical; and
3 WHEREAS, the City believes that, as a built city, it is important to support historic preservation when it comes to
4 rehabilitation of residential or income-producing properties; and
5 WHEREAS, incentives for rehabilitating historic structures would supplement an exiting federal historic
6 preservation taac credit, and would add another important tool for community development; and
WHEREAS, during the past 30 years many of the easiest historic preservation rehab projects have been completed;
and
9 WHEREAS, the City is always searching for new financial incentives for the continued conversion of eligible
10 properties into desirable, profitable housing, and believes in leveraging significant investment into underufilized
11 properties, which in turn provides economic benefits to the city in terms of revenue and jobs; and
12 WHEREAS, the Saint Paul City Council is the policy making body for the City of Saint Paul, and as such, its work
13 is inextricabiy linked to the City's I.egislative Agenda; now therefore be it
14 RESOLVED, that the City of Saint Paul supports the following and urges ]egislative passage of an Historic
15 PreservaYion State Tax Credit which would provide a 25% state income tas credit on qualified historic preservarion
16 expenditures on histori rehabilitation of residential or income-producing properties.
Requested by Department of:
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Rorm Approved by City Attorney
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Adoption Certified b,y Council Secretary Approved by Mayor for Suhmission to CouncIl
By: c��h �
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Approved by a o� Date �
BY� ��
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Adopted by Conncil: Date � �''� � � ���"T
_ DEPARTMENT/OFFiCE/CAUNCIL
��' L'��CII.
COPf�P.Ci PERSON & PHONE
Councilmember Lee Helgen 6-8650
MUST BE ON COUNCIL AGEN�A BY @4Tt�
December8,2004 Consent "
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Approval of Resolution Supporting Historic Preservation State Tax Credit
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