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Maine Historic Rehabilitation Tax Credit Update Breakfast Seminar

September 23, 2008 - 7:30AM
to 10:00AM

Sea Dog Banquet & Conference Center
26 Front Street
Bangor, ME



About the Event:

Online registration for this event is now closed. Please contact MEREDA at 874-0801 for more details.

The Maine Historic Rehabilitation Tax Credit is the focus of MEREDA’s Bangor-Area Breakfast Seminar.  

Join us on Tuesday, September 23, 2008 from 7:30 - 9:30 AM at the Sea Dog Banquet & Conference Center, 26 Front Street, Bangor, ME as our panelists revisit the topic of Maine Historic Rehabilitation Tax Credit.

In 2006, The Brookings Report, “Charting Maine’s Future”, recommended that “Maine should … enhance the state’s underutilized state historic preservation tax credit to make it a better tool for encouraging reinvestment and rehab in traditional towns and downtowns.”

The Maine Legislature responded this year by significantly expanding the credit to provide a Maine state credit equal to 25 percent of qualified rehabilitation expenditures.  Projects that involve a substantial affordable housing component receive a credit at a 30 percent rate.  The Federal credit adds an additional 20 percent of qualified rehabilitation expenditures.  The combined credits provide a powerful financial resource for the preservation of Maine’s historic buildings and for downtown redevelopment.

Our panel will discuss the legislative process to enact the expanded credit, the requirements and potential uses of the credit as a tool for historic preservation and development, the linkage of the increased credit to affordable housing and the impact that the credit is expected to have on historic preservation in Maine.

Panelists:

Amy Cole Ives has an architectural conservation and preservation consulting practice located in Hallowell, Maine. She established Sutherland Conservation & Consulting in July 2007 after leaving the Maine Historic Preservation Commission, where she had been the Historic Rehabilitation Tax Credit coordinator and technical preservation specialist since 1999. Her practice specializes in Historic Rehabilitation Tax Credit applications and local Certificates of Appropriateness for historic commercial rehabilitation projects, as well as cemetery conservation and historic research and conditions assessments and conservation plans. Over the past two years she has been particularly focused on the passage of LD 262, the legislation to revise the state historic rehabilitation tax credit, which was successfully incorporated into the Governor’s supplemental budget in April.

John Kaminski is an attorney practicing with Drummond Woodsum & MacMahon in Portland.   He is an experienced tax lawyer whose practice now focuses in affordable housing and community development law including the historic preservation tax credit.  He was involved in the effort to enact the recent changes to the historic rehabilitation tax credit and is currently representing developers on several Maine historic preservation projects that will be utilizing the expanded credit.

Gary Vogel recently joined Drummond, Woodsum & MacMahon after practicing law at other Portland firms for more than 20 years.  He is a member of the Board of Directors of MEREDA and is the co-chair of MEREDA’s legislative committee which was actively involved in the passage of the new Maine historic tax credit.  His practice includes commercial real estate, corporate and commercial matters, banking and affordable housing.




Materials Related To This Event:

Tax Credit Update Breakfast Seminar Brochure   Event Brochure
 
Tax Credit Update Breakfast Seminar Handouts   Handout
 
 


 

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