Samter project in Scranton to receive preservation tax credit
SCRANTON, Aug. 7 – Rep. Marty Flynn is pleased to announce that the Samter Building project in Scranton has been selected to receive a $150,000 historic preservation tax credit.
The Samter Building is a five-story structure located in downtown Scranton that was first built in the 1920s to house a clothing store. The building’s current owners are renovating the historic structure to convert the formerly vacant building to contain first floor retail space with four floors of apartments above it. The project is estimated to generate more than $803,000 in construction costs.
“I am happy to announce that this project has been selected for a historic preservation tax credit,” Flynn said. “These types of projects -- which take vacant or abandoned properties and rehabilitate them for new use -- are absolutely the types of local economic development that Pennsylvania should be supporting.”
The Historic Preservation Tax Credit program, administered the Department of Community and Economic Development and the Pennsylvania Historical and Museum Commission since 2013, 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.
The application date for fiscal year 2018-19 is Nov. 1. More information about the program can be found at DCED’s website at https://dced.pa.gov/hptc.