Federal Historic Preservation Tax Incentives – National Park Service
I just got word, through my architect, from the National Park Service that the Lesmeister Guesthouse project has been approved to receive “federal historic preservation tax Incentives“. It’s a long term that means a LOT of money for the project. Thanks to the approval of our application, 20% of the cost of the Lesmeister project will be paid for by the federal government (through tax credits). Since Arkansas also has a 25% preservation tax incentive program, another 25% of the project will be paid for by the state government!
So my total cost of the project was just cut by 45%! And that’s not just on the amount paid to the contractor. It also applies to fees paid to my architect, to the engineer who did the initial survey of the property, and all the other professional costs of the project. Hundreds of thousands of dollars saved! And this money saved will be poured back into other projects here (read: the St. Charles B&B) in Pocahontas as many of us work to make our hometown as good as it can be!