The Tax Cuts and Jobs Act being worked out in Washington DC could have an impact on a project in South Bend.
Among the tax credits that would be eliminated or weakened under the deal is The Historic Rehabilitation Tax Credit.
Marco Mariani, the Executive Director of the South Bend Heritage Foundation, tells WNDU that the city has a housing proposal in the works right now designed to renovate the old South Bend Brewery on Lincolnway West. They’ve applied for historic tax credits, which have been around since the 1980s, to complete the project.
Similar funds were used recently to restore the LaSalle Hotel and the Rushton Building.
Mariani says the tax credit is “hugely important” at a time when South Bend is seeing such a resurgence downtown.