Governor Expected To Sign Increase To Historic Tax Credits

(Beaver Dam) Governor Scott Walker is expected to sign a bill into law that would raise the cap for Historic Preservation tax credits from $500-thousand dollars for a project to $3.5 million. State Senator Dan Feyen championed the bill that is on its way to the governor’s desk. Feyen says in addition to increasing interest in renovating historic properties it will generate interest in the properties around them. Under the bill, up to 20-percent of renovation costs would qualify for historic tax credits. In Beaver Dam, historic tax credits were used in the transformation of the former Weyco Shoe Factory into the Historic Loft Apartments on the lakefront along Madison Street.