The Alabama Historic Rehabilitation Tax Credit that was allowed to expire last year received a positive review from a recently released study by an economist from The University of Tennessee. The study was requested by Alabama Legislative leadership to determine the impact of the incentive to the state and recommend any improvements to the credit that may be called for. The study suggested that the credit has had a positive impact, rating it a grade of “B” and made recommendations to get to an “A”.
Senator Del Marsh said, “Overall the Historic Tax Credit is a good program that could be a great program with a few modifications. I look forward to working with my colleagues in the regular session as we attempt to re-establish the tax credit with the suggested improvements.”
That is encouraging news for Birmingham and historic areas across Alabama. REV looks forward to working for passage of a new Historic Tax Credit in the upcoming legislative session!
At REV, we also love seeing the added vibrancy on the street as patrons enjoy outdoor dining in our beautiful city. As indoor dining reopens, cities across the country are realizing that ending expanded outdoor dining could mean leaving money on the table.
Although the Greyhound Bus Terminal was renovated in the ’70s, many original elements of the building remained and have now been become historic highlights in the present-day adaptive reuse project. Join us on a photo tour of the historic space!
This is obviously good for downtown… but why *exactly*? Here’s REV President & CEO David Fleming’s take on what the move means for downtown Birmingham’s place in the world now and in the future.