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Friday, November 22, 2024

Workshop educates on qualifying for historic rehab tax credits

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Elizabeth Wetzel Director of Special Projects & Inter-Governmental Affairs | City of Covington

Elizabeth Wetzel Director of Special Projects & Inter-Governmental Affairs | City of Covington

An educational workshop is set to take place in Covington, Kentucky, aimed at educating homeowners and developers on how they can qualify for historic tax credits for the rehabilitation of old homes and buildings. The Historic Rehabilitation Tax Credit Workshop will occur from 6 p.m. to 7 p.m. on Wednesday, November 6, at the Kenton County Public Library located at 502 Scott St.

The event will feature presentations on the Kentucky Heritage Council’s Site Development Program, which manages state and federal tax incentive programs designed to encourage the protection and rehabilitation of historic properties listed or eligible for listing in the National Register of Historic Places.

Kaitlin Bryan, a Covington Historic Preservation Specialist, stated: “If you own a historic building or home, you may be eligible for rehabilitation credits.” She further explained that properties within a National Register District could receive financial returns on qualifying rehabilitation expenses. Covington boasts 17 such districts from the river extending to Latonia.

In 2022, Covington collaborated with the Enzweiler Building Institute to create the Covington Academy of Heritage Trades. This initiative aims to develop a workforce skilled in restoring or rehabilitating historic buildings and homes. The Academy offers 13-week courses combining classroom instruction at the Enzweiler Building Institute’s Latonia location with hands-on training at a "living lab," specifically the old Colonial Inn at 1515 Madison Ave., dating back to 1862.

Recently, the Academy secured grants to assist with replacing the building's roof. In August, it received $9,250 from the National Trust for Historic Preservation and $15,000 in June from the Carol Ann and Ralph V. Haile Jr. Foundation. Additional funding comes from a federal American Rescue Plan Act allocation.

Bryan mentioned that sections of the building’s fascia were removed by roofing contractors to mold rosettes and other details for panel refabrication. Construction on the new roof began on Monday, October 28. Once completed, this facility will serve as an educational hub where students can gain practical experience in heritage trades.

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