The downtown Lafayette Central Business District has been designated as a National Register Historic District by the National Park Service.
Lafayette Consolidated Government says that owners of eligible historic buildings in the new district can now apply for federal and state historic commercial tax credits.
The tax credits, according to LCG, will help historic property owners with maintenance and repair costs.
Owners may be eligible to receive a 20 percent federal income tax credit and an additional 18 percent state income tax credit on eligible building maintenance and rehabilitation costs, if work is approved in advance and performed according to the Secretary of the Interior's guidelines for rehabilitation.
Costs include roofing replacement or repair, masonry repairs, and most construction costs associated with maintaining or rehabilitating a building to put it back into commerce.
LCG says that owners interested in applying for tax credits should contact Staff Liaison to the Preservation Commission Roxana Usner in LCG's Development and Planning Department at 337-291-7193 or rmusner@lafayettela.gov.
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