| Historic dist. tax credits / grants |
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Jill
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Cash: $ 0.80
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Joined: 23 Feb 2004
Location: Missouri
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| Historic dist. tax credits / grants |
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I own an old building in a small town. The building is approaching 90 years old. It is zoned commercial/residental and in the historic part of downtown (although I'm not sure the downtown is declared a "historic district")
Anyway, I was wondering if anyone has experience with tax credits or grants with the renovation of an old building? What kind of a hassle is it? Is it worth the trouble? Did you have problems meeting restrictions? That sort of thing.
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Mon Mar 01, 2004 6:02 am |
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Andrew
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Location: Texas
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This probably isn't what you were looking for, but... We own a 1934 duplex, and have done a lot of work fixing it up. This is our residence, so I don't think it qualified for any grants, but it is nice to deduct the mortgage interest (as well as renting out the other half). It's like having a tiger by the tail sometimes with these old buildings, cause there is always something that needs to be repaired or upgraded, so I hope you are ready for the challenges (money, time, priorities, etcetera). It is a rewarding process though, have fun!
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Mon Mar 01, 2004 2:34 pm |
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Jill
Moderator
Cash: $ 0.80
Posts: 26
Joined: 23 Feb 2004
Location: Missouri
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Eventually part of this building will be our residence. (It's a two story building). My biggest problem is that we can't live in it yet to save money. So the progress goes very slow!
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Mon Mar 01, 2004 3:13 pm |
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