Last year we worked with Warehouse District Developers to develop a proposed Illinois Historic Tax Credit program. This program would be a major incentive to help cities renew older declining neighborhoods. The tax credit makes the preservation and renewal of dilapidated historic buildings much more likely, and is an important factor in revitalizing older communities.
We are pleased that the State Legislature led by Senators Koehler, Senator Risinger, Representative Gordon and Representative Leitch passed a pilot program that covers the Pere Marquette. We hope that the next session passes this program for the Warehouse District. It should be eventually passed on through the State. This would be a gigantic shot in the arm for Sustainable Development of older declining areas.