| TAX CREDIT PROJECTS
The single
most important
financial tool to aid in historic preservation projects is the federal rehabilitation investment tax
credit.
This program has funded billions of dollars worth of rehabilitation
across the country since it began in 1981. Steven McQuillin &
Associates has assisted hundreds of private property owners in
obtaining the credit. Projects include the following:
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GE Lighting Nela Park.
Since 1988 Steven McQuillin has
served as historic preservation
consultant on over $30 million in rehabilitation projects. Nela
Park is the headquarters of GE Lighting and this campus-like complex is
America’s first industrial park. McQuillin prepared a
preservation management plan for Nela Park that has guided work there
for over ten years.
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Dillard's Department Store. Consultant since 1985 on $20 million
renovation to Dillard's Department Store on Cleveland's Public Square
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Railway Power House.
Woodland Ave. & West Side Street
Railway Power House converted into the focal point of the Flats' west
bank entertainment.
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Cleveland's Warehouse
District.
Consultation services have been provided
on much work in Cleveland's Warehouse District including the Hat
Factory, Johnson Block, Jobber's Block, Chamberlain Block, Burgess
Block, Painters' Building, Cornell Block, Grand Arcade, Hilliard Block,
820 Building, Bloch's Block, Miller Block, Lorenzo Carter Building,
Courthouse Square, New York Coach Block, Tackaberry Trunk Company,
Shanman Building and the Perry-Payne Building.
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USS/Kobe Steel Co.
Renovation guidance of two major historic
buildings at USS/Kobe Steel Co. as part of a half-billion dollar
project.
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Re-use of Schools.
Plans for re-use of schools, including an
1874 Victorian Gothic brick school now used as an art center; Beehive
and Doan schools in Cleveland transformed into senior housing; re-use
plans also prepared for Watterson, St. John Cantius, East Madison, Lulu
Diehl and Hodge schools in Cleveland, the old Union School in Oberlin
and for Amherst Central High School.
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Greyhound Bus Station.
Greyhound Bus Station, Cleveland, Ohio, rehabilitation in 2000 of this
1946 Art Moderne style building.
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Cleveland Neighborhoods.
Cleveland neighborhood rehabilitation projects include Crawford-Tilden
Apartments at E. 83 and Crawford Rd. for Famicos Foundation; Harp
Apartments, Kennedy Apartments and Gordon Square Arcade, all near W.
65th and Detroit, for Detroit-Shoreway; Scharkofsky Building, W. 92nd
St. and Lorain Ave., for Cudell Improvement; and Pelton Apartments in
the Tremont neighborhood
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Federal Rehabilitation
Investment Tax Credit
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This
federal incentive consists of a federal income tax credit of 20% of the
cost of major rehabilitation work. In order for this property to become
eligible for the 20% federal rehabilitation investment tax credit, it
must
(1) be certified on the National Register of
Historic Places;
(2) meet the U. S. Secretary of the Interior's
Standards for Rehabilitation; and
(3) upon completion, be documented to
demonstrate that the work has been
carried out as
proposed. |
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