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'An extraordinary chilling effect': Developers warn against cuts to federal tax credits

Source: theadvocate.com/new_orleans/news/business/article_73aafe32-c674-11e7-85d1-5316aab6521e.html - Nov 13, 2017

A generous federal tax credit that developers say has had a catalytic effect on the commercial redevelopment of historic buildings, particularly in downtown New Orleans, could be on the chopping block under the broad tax-overhaul plan that House Republicans unveiled this month.

Whether or not the program is sound public policy — and whether or not it’s driving development decisions — it certainly is being used.

In the 2016 fiscal year, Louisiana ranked No. 1 in the nation in proposed rehabilitation activity as measured by the number of projects, according to the National Park Service, which oversees the federal program.

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Category: General Business