DES MOINES, Iowa (KCAU) — The Iowa Economic Development Authority (IEDA) awarded tax credits to 12 buildings across the state of Iowa to help with renovations, and a historic Sioux City building was one of the recipients.
According to the IEDA, of $20.5 million in tax credits awarded, $5,657,567 will go to the Badgerow Building to help transform it into a residential space with a health club made available to the public. The tax credits were made possible through the Historic Preservation Tax Credit program.
“It’s exciting to see historic buildings across the state find new life with assistance from this program,” said Debi Durham, executive director of IEDA and Iowa Finance Authority. “These projects not only preserve the past, but also ensure our communities are attractive places to live and work into the future.”
This application round opened in June with about $21 million available for awards. IEDA received 21 applications requesting $43.3 million in tax credits.
The Historic Preservation Tax Credit program provides a state income tax credit to projects that restore underused or vacant historic buildings while maintaining the character-defining features that enhance neighborhoods and communities.
To see the full list of historic buildings in Iowa receiving tax credits, click here.