Home / Industry / Nonprofits / Geva to receive federal tax credit for renovations

Geva to receive federal tax credit for renovations

The Geva Theatre Center Inc. is in line for federal support to help cover the cost of $11 million in renovations.

The National Park Service is providing a 20 percent tax credit to Geva through the Federal Historic Preservation Tax Incentives Program.

The program encourages the preservation of certified historic structures. Rehabilitation must retain and preserve the historic character of the property, including distinctive features, finishes and construction techniques.

Geva announced in September the completion of a seven-year renovation of the former New York State Arsenal and Rochester Convention Hall.

The state invested 25 percent of the funds needed for the work, with more than 160 individual, foundation and corporate donors contributing the remainder.

The project included roof replacement, masonry restoration and new seating.

Geva said it received tax credits for renovations to the building, not the artist housing or endowment funds that were part of the original campaign. It received tax credits on $3.5 million of the entire project.

Follow Lori Gable on Twitter: @LoriAGable

(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email rbj@rbj.net.

x

Check Also

The old Kmart store on Chili Avenue is currently vacant. (Kate Melton)

Re-use of boarded up big-box stores becoming more popular (access required)

The future of retail, especially along West Ridge Road, will be undergoing an A to Z analysis in the coming ...

More optimism for Bausch than Kodak (access required)

Two of Rochester’s former Big Three manufacturers—Eastman Kodak Co. and Bausch Health Cos. Inc.—announced promising news this week. Kodak announced ...