Property owners, investors and community members are invited to an informational session regarding tax credits and the restoration of buildings in Downtown El Paso.
The session is set for Wednesday, in the ground-level Foundation Room, of the El Paso Community Foundation (333 N. Oregon Street) right next to San Jacinto Plaza from 5:30-6:30pm.
Adam Markwood, of Brian Wishneff & Associates, will review the mechanics of qualifying for, monetizing, and maximizing the economic benefits of federal and state historic tax incentives.
Markwood will outline the application process, necessary legal and financial structuring, and current trends across the state. Admission to the event is free admission and light refreshments will be provided.
According to officials, federal and state tax credits can pay for up to 45% of the costs of renovating historic buildings in downtown El Paso.
TTS officials say. “Once the County architectural survey and National Register nomination processes are completed (by early 2018), these tax credits will be available for restoring somwhere between 500 and 1,000 buildings throughout downtown, Segundo Barrio, and Chihuahuita.”
They add, “This is an unprecedented business opportunity and has been transformative in downtowns throughout Texas.”
For more information, please contact Malissa Arras of the Texas Trost Society at [email protected]