Conklin: A total of $75,000 in awarded tax credits to aid in rehabilitation of Hoffer Building
HARRISBURG, Aug. 10 – State Rep. Scott Conklin, D-Centre, today announced a total of $75,000 in 2017-18 Historic Preservation Tax Credits has been awarded to the 77th Legislative District.
Conklin said the allocated tax credits will aid in the rehabilitation of Philipsburg’s historic Hoffer Building and leverage an estimated $350,000 in construction expenditures. The building will be rehabilitated for housing and commercial use.
“The tax credits awarded through this program will play a vital role in revitalizing the Philipsburg Historic District, which in part will strengthen the local economy and bring new residents to the 77th Legislative District,” Conklin said.
The Historic Preservation Tax Credit program is administered by the Department of Community and Economic Development and the Pennsylvania Historical and Museum Commission.
Since 2013, the Historic Preservation Tax Credit program has invested more than $15 million to rehabilitate 81 historic buildings leveraging an estimated $1.3 billion in construction expenditures. The investments have helped preserve buildings that contribute to the distinct character of Pennsylvania’s boroughs, townships and cities.
This year, a total of $3 million was awarded to 21 projects statewide in 2017-18 Historic Preservation Tax Credits.