Four over One News – some good, some bad
4/1 Design has some good news and some bad news. As it’s always best to lead with the bad news, here it is:
As you may already know, the State Tax Credit Program is sunsetting (read: ending) at the end of this year. We have meet with the folks at the State Historic Preservation Office (SHPO) and, while nothing is in writing yet, we want to pass on what we’ve learned.
- For those of you who are already receiving tax credits, this will not change anything for you – you’re grandfathered in.
- For those of you with open applications: you may complete your project after the end of the year, but only those expenses paid before Jan. 1, 2015 are eligible. You must still follow the standard for work done after the new year for your whole project to be eligible.
- Any materials purchased before the end of the year are eligible, even if they’re installed after the the new year.
- Part B paperwork does not need to be submitted by the end of the year – it can be submitted whenever the work is complete, or when you chose to close the tax credit application (eg. anytime after the new year that all the purchased materials are installed and pre-paid work have been completed). That said, if you would like to receive your Part B acceptance before tax day in April, we would like to send them to the SHPO by February 15, 2015.
- The tax credit program is over as of Jan. 1, 2015. No ifs, ands, or buts. We are hopeful that a similar historic preservation incentive will be introduced into the legislature, but we have no guarantees. If you would like to stay informed about potential new incentives, I highly recommend you become a member of Preservation North Carolina, who is leading the charge.
- If you or a neighbor has done a lot of work recently to a house in the historic district, there is still time to put in a new application. But make sure to get in touch soon, as time is fleeting!
Here’s the SHPO’s notice about the sunset, so you can hear it from the horse’s mouth.
Now for the good news—the 4/1 Design team has doubled! Allow me to introduce you to Emily Wallrath Schmidt, who joined 4/1 this summer as a preservation specialist and all-around girl friday. She is focusing mostly on tax credit applications and Certificates of Appropriateness for the moment, but also does House Histories and Historic Plaque Marker applications. Emily has been in the area since last winter, doing a lot of volunteer work with Preservation Durham, and previously spent time with the Historic Chicago Bungalow Association, the Central Park Conservancy in NYC, and the University of Pennsylvania Museum of Archaeology & Anthropology in Philadelphia. She also claims some knowledge of Turkish, if any of you would like to test her on that and report back? Her email address is simply Emily@fouroverone.com, and I know you will like her as much as I do.