releases: https://tomgarrett.house.gov/media/in-the-news/historic-tax-credits-saved-relief-dan-river-region-leaders-0
Data license: MIT · Data source: dwillis/congress-press
This data as json
| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| https://tomgarrett.house.gov/media/in-the-news/historic-tax-credits-saved-relief-dan-river-region-leaders-0 | Historic tax credits saved, a relief to Dan River Region leaders | 2017-12-21 | 2017 | 2017-12 | Republican | House | VA | Thomas Garrett | G000580 | tomgarrett.house.gov | legacy | President Donald Trumps tax-cut package will not affect federal historic tax credits or federal payments for the Build America Bonds program, much to the relief of city officials and at least one historic preservationist. Were pretty appreciative of the fact that the federal government is retaining the historic tax credits, Danville City Manager Ken Larking said Thursday. It was great they [U.S. Congress members] recognized it was a valuable program that benefits small communities like ours. Danville City Council voted last month to adopt a resolution urging Trump and Congress to keep the Federal Historic Tax Credit Program. Matt Missen, communications director for Rep. Tom Garrett, R-5th District, said localities in the district expressed alarm over the possibility of cuts to, or elimination of, the credits. There was a massive outcry from members of the community, not only from the business development community, but regular people who wanted to see the historic buildings maintained, Missen said. Garrett told the Register & Bee on Thursday that he supports limited federal government and empowering localities, but you cant argue that this doesnt work, he said of the historic tax credits. If it works, why on earth dont we keep doing it? Garrett said. If we talk about the private sector, we should empower the private sector. Thats what the tax credits do. Garrett wrote a letter to a House conference committee urging retention of the tax credits. This worthwhile investment revitalizes distressed areas and creates the jobs that support local economies, Garrett wrote. Twenty properties in Danville have received the credits since 2005, with the projects channeling $93.5 million in private investment in historic properties, the city reported last month. The investments have resulted in 17 new businesses, seven business expansions and 443 new residential units, according to the report. Federal historic tax credits have driven redevelopment in the River District. The program was enacted during President Ronald Reagans administration in 1981. According to councils resolution opposing the elimination, federal historic tax credits leverage $4 in private money for every dollar of federal support. Those 20 properties before development under the tax credits generated $42,371 in annual real estate tax revenue. Now they bring in almost $362,000 in annual revenue, according to city officials. They also have a positive impact on sales and meals tax revenues, annual payroll, business license fees collected and business personal property tax, according to city officials ... READ MORE. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |