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

yasaman-and-jalani-neurescence-cr

Neuroscience uses optical imaging to map the brain (access required)

For all of the advancements made in the world of neuroscience, the medical community's knowledge of the brain is still ...

luminate

Luminate NY and building a tech hub in the Flower City

Now in its second year, the Luminate NY accelerator has brought 20 burgeoning optics companies to Rochester. Managing director Sujatha Ramanujan discusses the future of the program and building a strong STEM community in Rochester.