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Published: 10/1/2000
By Scott Hall, St. Louis Commerce Magazine, October 2000
The State of Missouri has multiple tax credit programs to provide incentives for investments and charitable contributions. This regular column features examples of how the various Missouri state tax credit programs benefit the state and the St. Louis region.
There is an old saying in the real estate business that alleges property can be valued by three criteria, “location, location, location.” That said,Jefferson City ’s historic Hotel Governor building remained empty for more than a decade despite being across the street from the majestic Governor’s Mansion and in the shadow of the Missouri State Capitol Building . The once prominent landmark that served not only as a hotel, but more importantly, as a nucleus of State political activity, was closed in 1988 and remained vacant for more than 10 years. Many worried that the building would never be renovated. Despite several attempts, the Hotel Governor remained abandoned, burdened by the great expense of suitable restoration. However, with help from the MissouriState and Federal Historic Tax Credits, an otherwise impossible renovation turned into a remarkable success.
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