Gov. Pillen proposes ending credit that helped renovate Omaha’s Cottonwood Hotel and hundreds of other historic buildings.
- Gov. Jim Pillen has proposed eliminating the state’s historic preservation tax credit to help close a nearly $400 million budget deficit
- A tax credit has helped fund renovations of significant Omaha buildings, including the Cottonwood Hotel and Dundee Bank’s Blackstone branch, by making preservation projects financially viable
- Preservation advocates argue the credit is essential for maintaining the city’s unique architecture and attracting visitors
BROADCAST TRANSCRIPT:
A Nebraska tax credit that helps preserve historic buildings like Omaha’s Cottonwood Hotel and Dundee Bank could be eliminated as state lawmakers look for ways to close a budget gap of about $400 million.
Gov. Jim Pillen is asking the Legislature to end the Nebraska Historic Tax Credit, which gives developers a tax break of up to 25% for saving old buildings and turning them into revenue-generating spaces like stores, offices, or apartments…