Historic Preservation Tax Credit Workshop a Resounding Success

ALBANY, NY (09/18/2009)(readMedia)-- The Downtown Albany Business Improvement District (BID) and the Historic Albany Foundation hosted an informative workshop detailing information on how to use Federal and State Historic Preservation Tax Credits to make the most out of rehabilitation and adaptive reuse projects on September 17, 2009 at the 11 North Pearl Centre in Albany. 3t Architects of Albany was the presenting sponsor of the event that featured guest speakers Murray Gould, Clinton Brown and Joe Eicheldinger of Port City Preservation LLC, Clinton Brown Company Architecture, and Key Bank respectively. Each presenter spoke about how the tax credit works, the application process and how lenders/investors approach them. A panel discussion followed with representatives from the Preservation League of New York State and the Historic Resource Commission in addition to the speakers. PowerPoint slides from the presentation and information about an upcoming DVD of the filmed workshop will be available on the BID's website, www.downtownalbany.org.

More than 70 attendees gathered in the recently restored, former lobby of the Home Savings Bank, located on the ground floor of 11 North Pearl Street. This space was an impactful example of the potential for creating new uses of spaces in Downtown Albany while still maintaining the historical aspects of the building in which they are housed. "We were thrilled with the turnout for this workshop as it is indicative of the interest in the historic properties located throughout the district," commented Georgette Steffens, Executive Director of the Downtown Albany BID. "The BID is grateful to 3t Architects for their generous support of this event and to the Historic Albany Foundation for their partnership."

This tax credit program will benefit both commercial and residential developments, and can also be applied toward mixed-use projects. The Historic Albany Foundation will be hosting another workshop in mid-October focused on more advanced topics of tax credits and geared toward accounting professionals. For more information on the upcoming workshop and to sign-up for Historic Albany Foundation's mailing list, visit www.historic-albany.org.

During the past twenty-five years, Mr. Gould has served in a wide range of roles related to historic preservation - investor, lender, developer, owner, property manager, project manager, grant writer and consultant - participating in more than 100 projects. Port City Preservation LLC is a consulting, advisory and development firm headquartered in Oswego, New York that specializes in the adaptive reuse, restoration and rehabilitation of historic properties.

Port City Preservation has participated in a wide range of successful projects that include historic homes, mills, industrial facilities, hospitals, schools and public buildings.

Buffalo Niagara-based Historic Preservation Architect and Developer Clinton E. Brown is widely recognized as a regional leader in historic preservation architecture and community revitalization. The founder and principal of Clinton Brown Company Architecture, the full service historic preservation architecture firm, Mr. Brown brings over 30 years of experience to his work of creating new value from historic buildings and places in collaboration with property owners, civic leaders, and governmental officials.

Joseph G. Eicheldinger is vice president and senior relationship manager, Community Development Lending, for the Western New York and Rochester districts of Key Bank N.A. He is responsible for providing first mortgage construction financing and tax credit equity investment for Community Development projects in the Buffalo, Rochester and southern tier regions of Upstate New York.

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The Downtown Albany BID, incorporated in 1996, is a private, not-for profit 501 (c) (3) organization that works to restore, promote and maintain the character and viability of downtown Albany and to improve the quality of life and overall image of downtown for all those who work in, live in and visit the Capital City. The Downtown Albany BID covers approximately 50 square blocks from Eagle Street on the west to Broadway on the east, and Clinton Avenue on the north to Madison Avenue on the south. Downtown Albany is easily accessible from four exits off I-787. Ample public parking is available in more than 16,000 spaces; metered parking is free after 6 p.m. on weekdays and all weekends. For information about the Downtown Albany BID, call 518-465-2143 or visit www.downtownalbany.org.

Historic Albany Foundation celebrates 35 years as a private, not-for-profit membership organization working to promote the preservation and appreciation of the built environment in and around the city of Albany. Since 1974, the Foundation has fulfilled its mandate through public education, promotion and membership, provision of design and technical assistance, community projects, advocacy for endangered buildings, publications, tours, lectures and operation of an architectural parts warehouse.