The Federal Historic Preservation Tax Incentives Program is nearly 50-years-old. And, since its creation in 1976, it’s been used for many historic building renovations in the United States, including some in southwest Missouri. K
The program, administered by the National Park Service, provides a 20% federal tax credit to property owners who undertake a substantial rehabilitation of a historic building. The project must be for commercial or income-producing use and must maintain a building’s historic character.
“It’s an incentive that the federal government creates to enable us to affordably use what we have and preserve the particularity and the beauty and the distinctiveness of our built environment, while also serving the communities around us,” said Carol Quillen, president and CEO of the National Trust for Historic Preservation.
In Springfield, from 2001 to 2024, 95 projects have benefited from the Historic Tax Credit. They include Bailey School, which was turned into housing; the Ozark Camera Building, in the 200 block of E. Walnut, which is a multi-use building; J.W. Crank Drug Store, 306 S. Campbell, which is also a multi-use building; and Rowland’s Department Store, in the 200 block of W. Commercial, also multi-use…