Williamson preservationists lobbying for Tennessee historic tax credit

The Tennessean

FRANKLIN — The Heritage Foundation of Williamson County is pushing for a new statewide tax credit that would encourage rehabilitation of historic structures across Tennessee.

Right now, Tennessee is one of only 15 states in the U.S. that does not offer state historic tax credits to help revitalize main street communities, according to the National Trust for Historic Preservation. It's also the only state in the southeast that doesn't provide one.

Heritage Foundation CEO Bari Watson Beasley said the nonprofit historic preservation organization would be asking state legislators to consider a bill that would provide the tax credit. She and a panel of guests showed the presentation this week to the Williamson County mayor and Reps. Brandon Ogles, R-Franklin, and Sam Whitson, R-Franklin.

"In terms of why other states that have done this, it’s mainly about job creation," said Renee Kuhlman, who is the Director of Policy Outreach, Government Relations and Policy, National Trust for Historic Preservation. "They see the construction jobs, but they like the businesses going into the buildings. Job creation is a really big reason."

A similar federal tax credit has already helped five buildings in Williamson County. Tennessee Historic Commission executive director Patrick McIntyre said it could prove useful to put the two tax credits together.

"Over 1,000 buildings in the state have been revitalized using that credit," McIntyre said. "It makes the number works. A state tax credit would exponentially expand the number of projects. Everyone looks at a historic downtown and thinks this belong to everyone. It’s important it be viable and attractive. That’s what is exciting. A state tax credit would be weighted to smaller communities."

Clay Perry walks down the main staircase inside the 1850 home he and his wife purchased and are renovating. The home, which they call Boxmere, had to be gutted because it had almost fallen into disrepair. “I have learned in historic preservation, it’s a never-ending process,” Perry said.

McIntyre and Kulhman explained that for any building to receive a state tax credit the structure has to meet a standard of rehabilitation test. It will also have to produce income for the next five years. A personal investment by the building owner and complete rehabilitation has to happen before the state will provide any money for the tax credit.

"If you can provide a tax credit, it will give buildings already sitting there a new life," Downtown Franklin Association director Jill Burgin said. "Bring them back and every time a cash register dings, some of that goes to your local government."

About the Heritage Foundation

The Heritage Foundation of Williamson County has worked to save properties in the area for going on 52 years. Some of its biggest preservation projects include the Franklin Theatre, Roper’s Knob, parts of the Franklin battlefield and the Old, Old Jail.

Reach Emily West at erwest@tennessean.com, at 615-613-1380, or on Twitter at @emwest22.