Incentives for Historic Preservation in Seattle
July 12, 2007
Washington Athletic Club
Seattle, WA
Conference Overview
For more than 25 years the Historic Tax Credit has encouraged and facilitated the
rehabilitation of former churches, industrial and factory buildings, hotels, department
stores and other historic buildings for commercial and residential purposes. Today,
the field is undergoing significant changes with developments ranging from more
efficient twinning with the Low Income Housing Tax Credit (LIHTC) to making use
of the New Markets Tax Credit (NMTC), both of which are changing the way rehabilitation
of historic buildings is financed. New proposed legislation - the first in a generation
- would make significant changes and improvements to the historic tax credit program.
Incentives for Historic Preservation in Seattle focuses
on both cutting edge developments and the basics in a succinct nuts-and-bolts fashion
with special emphasis on Seattle and Washington case studies. Local and nationally
recognized experts with years of experience overseeing historic credit transactions
will zero in on the most recent and significant tax developments, regulatory requirements
and structuring techniques as well as incorporate key issues at the foundation of
today's successful projects.
Washington Athletic Club
The Washington Athletic Club, located at 6th and Union in the heart of downtown
Seattle, opened its doors on December 16, 1930. Since then it's been a home away
from home for Seattle's who's who in business, political and social circles. Not
long after the Club opened it was threatened with closing as the Great Depression
hit the West Coast. Civic leaders and community Members pulled together and kept
the Club open. In the 1950s the WAC expanded its clubhouse with a four-story addition.
Less than 20 years later the Club expanded once again, adding another eight stories
onto the 1955 addition. Most recently the Club underwent an extensive remodel that
added state-of-the art fitness facilities, a day spa and physical therapy services.
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