Missouri Coalition for Historic Preservation and Economic Development

The 2007 Legislative Session ended on May 18, 2007.  The Historic Tax Credit survived the session, but not without a number of close calls.  For example, Senator Lager (R-Maryville) proposed an amendment to sunset all tax credit programs, which would have been a direct hit to the Historic Tax Credit and Rebuilding Communities Credit.  This amendment initially slipped through the House and could have been enacted had it not been for the watchful eyes of our lobbyist. As we all know, a sunset on the Historic Tax Credit would destroy this successful economic development tool.

When Jeff Neal bought the Columbia Traders building near Fifth and Main streets three years ago, he admits the idea of reusing historic buildings in an effort to save downtown districts and make a profit was “dicey” at best, and says it still is in many ways. “We shopped a business plan for a year before we found a bank that would bite,” Neal said.

But standing next to two other men during Friday’s Regional Economic Summit at Missouri Southern State University who have made the downtown-loft concept work in other parts of the state, Neal said the idea of sustainability is growing in popularity.