CARW was proud to partner with BOMA Wisconsin, Milwaukee Preservation Alliance and NAIOP-WI for the Historic Tax Credit Program Update on May 8th at the historic Pritzlaff Building. Presenters Jeff Bentoff (Milwaukee Preservation Alliance), Matt Jarosz (UWM) and Jonathan Beck (Alexander Company) were led by moderator Dick Lincoln (Mandel Group) through a series of questions focusing on the history of the historic tax program in Wisconsin, it’s purpose and the economic impact it has on the commercial real estate industry. Speakers discussed the findings of a recently released study by Baker Tilly which examined the impact of each project receiving funds for 2014. In the current Wisconsin State Budget, the tax credit has been capped at $10 million with a number of other restrictions including a clawback provision and job-creation requirement. The joint finance committee for the State will be meeting over the course of the next few weeks to determine the fate of the credit.
Attendees were encouraged to use materials at the Historic Preservation Tax Credit Alliance website at www.wisconsinhistorictaxcreditalliance.org including the Backer Tilly report which was published on May 5th. Click here for the report. There are links to create letters for legislators as well.
Pictures from the event are HERE.