Iowa Awards $18.5 Million in Historic Tax Credits

The Iowa Economic Development Authority awarded more than $18.5 million in state historic-preservation tax credits to support rehabilitation of eight properties across six cities, with projects planned to bring historic buildings back into use for housing, businesses and community activity. Examples include converting the former Burlington High School into 45 affordable apartments for older adults, rehabilitating historic buildings in Iowa City and Dubuque for apartments and commercial space, and turning Waterloo’s Rath Packing Company administration building into affordable rental units. Separately, the Maryland Historical Trust awarded revitalization tax credits for two projects: renovating a Frostburg building for a ground-floor business and upper-floor apartments, and repairing Mount Savage’s Castle for reuse as a bed-and-breakfast with meeting space.