Governor McCrory, Secretary Kluttz stopping Salisbury Monday on behalf of Historic Tax Credits

Governor McCrory, Secretary Kluttz stopping Salisbury Monday on behalf of Historic Tax Credits


Governor Pat McCrory will join N.C. Department of Cultural Resources Secretary, and former Salisbury Mayor, Susan Kluttz, Salisbury Mayor Paul Woodson and other local leaders to tour historic buildings in Salisbury that utilized the recently expired Historic tax credits.

Stops include income producing properties and non-income producing properties which have recently taken advantage of the tax credits prior to their expiration.

The tour begins at City Hall, 217 S. Main Street, and 10:00 am.  Officials will also take a trolley tour of various properties.

"The Historic Tax Credits brought jobs and economic development to rural towns and big cities across North Carolina,” said Secretary Kluttz.  "The rebirth of one abandoned downtown building has a ripple effect throughout a community and often sparks a renaissance of development in nearby structures. In addition, these historic buildings and mills are an emotional tie to our heritage and exemplify what makes North Carolina unique. These credits are critical for North Carolina's economic recovery. "

Cities across North Carolina, in conjunction with the NC Metro Mayors Coalition, are working towards the reinstatement of the Historic Preservation Rehabilitation Tax Credit program of the North Carolina State Historic Preservation Office (also known as Historic Tax Credits or HTC).

The HTC is used by cities and towns of all sizes and provides an incentive to taxpayers who contribute to the preservation of historic buildings by rehabilitating them in a way that preserves the historic character of the building while allowing for new uses.

During a stop in Concord on January 30, McCrory, Kluttz, and Mayor Scott Padgett praised the HTC as a way to grow the local economy.

“There's no winners or losers in this, we're all winners because this affects small towns to large towns, it's all about preserving our past, jobs, reinvestment…preserve our buildings instead of tearing them down," Mayor Padgett added.

“And it's cheaper for the tax payers if this building is revived because we already  have the infrastructure, the water and sewer, recycling," Governor McCrory said during his remarks.  "We don't have to rebuilt something in a greenfield.”

Since 1998, over 2,400 Historic Tax Credit projects have been completed statewide, bringing nearly $1.65 billion of private investment into North Carolina communities. 

Representative Carl Ford of Rowan County told WBTV on that if the credits are returned, "there will be provisions to stop the sale of the HTC as a commodity and local government will have to provide matching grants.  This is all speculation based on the continuation of tax reform."

While in Concord, Kluttz pointed out that the Kluttz building on the square in downtown Salisbury is one example about how these credits were used to save an old building.  That building now houses residential apartments on the upper floors, and Spanky's restaurant on the ground floor.