Senator Yudichak and Representative Eddie Day Pashinski Announce Historic Preservation Tax Credit
Harrisburg, June 17, 2019 — State Senator John Yudichak (D – Luzerne/Carbon) and Representative Eddie Day Pashinski (D – Luzerne) announced a $100,000 Historic Preservation Tax Credit today from the Pennsylvania Department of Community & Economic Development (DCED) and the Pennsylvania Historical and Museum Commission.
The tax credit will be used to rehabilitate the Spring Brook Water Supply Company building in the River Street Historical District for the Mechanical and Electrical Engineering program at King’s College. The project has an estimated construction expenditure of $4.6 million.
“Public-private partnerships are the driving force behind the economic revitalization occurring in downtown Wilkes-Barre. As the engineering program continues to grow at King’s College, students will work toward their future goals while honoring the history of the Spring Brook Water Supply Company building,” said Senator John Yudichak.
The Historic Preservation Tax Credit program, administered by DCED and the Pennsylvania Historical and Museum Commission since 2013, has invested more than $18 million to rehabilitate 105 historic buildings leveraging an estimated $1.5 billion in construction expenditures.
“I’m pleased that this competitive tax credit has been allocated and will help King’s College preserve this beautiful building while advancing their Mechanical and Electrical Engineering program,” Representative Pashinski said. “This credit will go a long way to ensure the Spring Brook Water Supply Company building is utilized and enjoyed for generations to come.”
“This state program provides vital support to bring historic buildings such as the Spring Brook Water Company building on Franklin Street in Wilkes-Barre back to life and economic usefulness. King’s will have well over 100 engineering students in the facility this fall. It’s great for the city, county and college,” said John R. Loyack, Executive Vice President, King’s College.