IEDA Announces Historic Preservation Tax Credit To Develops Transforming Old Jefferson High School Building Into Apartments

The Iowa Economic Development Authority (IEDA) announces more than $23 million in awards through the Historic Preservation Tax Credit program, with one project located in Jefferson. Developers of the Jefferson High School rehabilitation project, have been awarded nearly $2.5 million to cover a portion of the $8 million project to transform the school into 25 apartment units. Some of the apartments will be classified as affordable housing while the rest will provide market-rate units to revitalize downtown Jefferson and address workforce needs. The Historic Preservation Tax Credit program offers a state income tax credit to develops, to encourage rehabilitation of buildings, while maintaining the historical architectural features. IEDA Executive Director Debi Durham says “Historic preservation is economic development. When we restore these buildings, we’re protecting the stories and craftsmanship that shaped Iowa while creating new opportunities for housing, business growth and community vitality.” From the 23 applications requesting over $49 million, 11 historic properties were selected for this tax credit. The complete list can be found included below.

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