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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 |
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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