Salisbury City Council to receive historic tax credit presentation
Published 12:05 am Monday, March 14, 2016
By Amanda Raymond
The Salisbury City Council will be talking about historic tax credits and the Connect NC Bond Act referendum at Tuesday’s meeting.
The council will meet at 5 p.m. at 217 S. Main St.
Susan Kluttz, North Carolina Secretary of Natural and Cultural Resources, will make a presentation about the reinstatement of North Carolina Historic Tax Credits.
The state’s new historic preservation tax credits for rehabilitating historic structures became effective on Jan. 1 of this year.
Tax credits are provided for both income-producing and non-income producing historic properties.
According to the Natural and Cultural Resources website, the tax credit for income-producing properties includes 15 percent credit for up to $10 million in expenditures and 10 percent credit for expenditures between $10 million and $20 million.
Afterwards, the council will consider adopting a resolution in support of the $2 billion Connect NC Bond Act referendum.
If the referendum passes, $2 billion will be invested in long-term projects in counties across the state, including up to $7 million for Rowan-Cabarrus Community College.
North Carolina voters will decide on the referendum during the March 15 primary.
“While we have not yet formally voted as a council on this resolution, our council members fully support the bond referendum,” Mayor Karen Alexander said in a press release. “We anticipate that a successful vote on this funding package will lead to an increase in workforce development programs at our local community college following recent employee layoffs at area businesses.”
The council will also:
- Hear presentations and open public comment about Special Community Organizations 2016-2017 city budget requests.
- Consider closing an alley in the 400 block of North Lee Street.
- Consider making Elliot Davis Decosimo the city’s auditors and award a $32,000 contract for auditing services for the fiscal year ending June 30, 2016, with an option for years 2017-2019.
- Consider awarding a $400,801.25 bid to Carolina Siteworks, Inc. for street paving.
- Hear an update about off-premise signs (billboards) within the city’s zoning jurisdiction.
- Consider making appointments to various boards and commissions.
- Hold a public comment session.
- Hear comments from the city manager.
Contact reporter Amanda Raymond at 704-797-4222.