historic tax credit

The Bottom Line
5:31 pm
Fri January 17, 2014

The Bottom Line: The Future Of The Dynamo House

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave and Mark talk with Providence Business News staff writer Patrick Anderson. They discuss potential development of the old Providence waterfront power plant called Dynamo House. It’s entangled in ownership, legal and regulatory issues.

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Politics
9:38 am
Wed August 28, 2013

Division of Taxation Hands Out Historic Tax Credits

Using a lottery system, the Division of Taxation handed out 31 Historic Tax credits.
Credit RIPR FILE

The Rhode Island Division of Taxation held a drawing Tuesday to award just $35 million in state historic tax credits.  The General Assembly voted earlier this year to reopen the historic tax credit program.

The Division of Taxation used a drawing to pick who would get the tax credits since demand outstripped supply. State Tax Administrator David Sullivan says the recipients comprise a variety of projects expected to boost the economy.

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On Politics
4:03 pm
Mon August 26, 2013

RI Historic Preservation Tax Credit Lottery is tomorrow

The Rhode Island General Assembly and Gov. Lincoln Chafee approved legislation reinstating historic tax credits that are used as a spur to help finance restoration of historic buildings in the Ocean State. Tomorrow, the RI Division of Taxation will hold a lottery drawing for the reopened tax credit program.

The program has been generally closed since 2008, according to a statement from Neil Downing, the division’s chief revenue agent. But some projects were grandfathered in and have been proceeding. But about $34.5 million in credits available but unclaimed as of May 15, 2013.

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RI News
4:18 pm
Tue August 6, 2013

RI's Division of Taxation Reopens Historic Tax Credit Program

The Rhode Island Division of Taxation says scores of applications have come in to receive millions of dollars in tax credit.  Applicants of the program must come up with a detailed plan to rehabilitate historic structures in the state. 

Neil Downing, with the Division of Taxation, says 41 projects have submitted applications for $54.5 million in credits.  As a result, a drawing will be held at the end of the month to determine which project will pick up the credits.

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The Bottom Line
4:36 pm
Fri July 26, 2013

The Bottom Line: Redesigning Historic Spaces

Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.

This week Dave talks with Rhode Island School of Design professor Liliane Wong. She heads the interior architecture department at RISD, has published about adaptive reuse in design, and is a registered architect. They discuss the promise and challenges of turning old buildings into new spaces.

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RI News
2:34 pm
Wed July 10, 2013

Only the Beacon Will Glow Atop Providence’s Superman Building

Starting this week, only the beacon atop the so called Superman building will be lit. Most of the other exterior lights will be dark, said Bill Fischer, spokesman for the building’s owner.

Bank of America was the only tenant and it left the building earlier this year. Fischer said keeping the beacon lit is sign that work is being done to bring the building back to life.

“You know, to maintain outside lighting on an empty building of approximately anywhere between $26,000 to $30,000 a year, is not a prudent expenditure of money,” said Fischer.

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Scott MacKay Commentary
8:24 am
Mon March 25, 2013

Historic Preservation Tax Credit Would Benefit Rhode Island

Rhode Island lawmakers have spent a lot of  time recently searching for ideas to jump-start the state economy. RIPR political analyst Scott MacKay suggests they head back to the future.

Hardly a week passes without Rhode Island’s business, political and public policy elite floating yet another plan for digging our state out of its economic rut. The ideas run the gamut; from modest proposals as providing more internships to keep college students in Rhode Island after they graduate to bigger dreams, such as abolishing the state sales tax.

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On Politics
10:10 am
Sun March 24, 2013

Bring back the RI Historic Preservation Tax Credit

Rhode Island lawmakers have spent a lot of  time recently searching for ideas to jump-start the state economy. RIPR political analyst Scott MacKay suggests they head back to the future.

Hardly a week passes without Rhode Island’s business, political and public policy elite floating yet another plan for digging our state out of its economic rut. The ideas run the gamut; from modest proposals as providing more internships to keep college students in Rhode Island after they graduate to bigger dreams, such as abolishing the state sales tax.

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RI News
2:38 pm
Wed January 30, 2013

Providence's "Superman" building could be converted into apartments

The Industrial Trust tower could be converted into apartments
Credit RIPR file

The downtown Providence skyscraper affectionately known as the “Superman building” may be getting a new lease on life.  The 26 story office building may be going residential.

Providence developer Arnold “Buff” Chace says he has been hired by the owner of the Superman building to conduct a feasibility study into turning it into an apartment building. 

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