Monday, May 16, 2022
Extended State Historic Preservation Tax Credits Aid Downtown Project (PHOTOS)

Extended State Historic Preservation Tax Credits Aid Downtown Project (PHOTOS)

(GDN) – Big things are happening in Downtown Goldsboro. 

Thursday afternoon, Goldsboro’s Downtown Development Office hosted several state legislators, dignitaries and developers who highlighted the latest projects for the downtown area. 

Rep. John Bell of Wayne County praised the General Assembly’s effort to expand the Historic Preservation Tax Credit through 2030 as part of the new state budget.

Patrick Reilly is the President of Rehab Development, the group renovating a series of downtown buildings for commercial and residential use.

Reilly says the total project includes 63 apartments and housing units as well as 12,000 square feet of commercial space.

He says they’re planning to start moving residents into the apartments as early as March 1st next year.

A state Historic Preservation Tax Credit extension is aiding the rehabilitation work in the downtown area.   

Reilly notes it can be difficult to undertake these long-term rehabilitation projects when state tax credits are continually expiring every few years.

Other speakers Thursday included Senator Don Davis; Deputy Secretary Darin Waters of the NC Department of Natural and Cultural Resources; Mayor Karen Alexander, board president of North Carolina League of Municipalities; and North Carolina Downtown Development Association president-elect, Kimberly Van Dyk.

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