The Leaksville Commercial Historic District, located in Historic Downtown Eden offers property owners completing renovations the opportunity to obtain both state and historic tax credits that help offset the cost of project renovations.
For income-producing properties, there is a tiered base credit:
15% up to $10 million of Qualified Restoration Expenditures (QREs)
10% from $10 million
No credit above $20 million
5% Development Tier Bonus in Tier 1 or 2 counties
5% Targeted Investment-manufacturing or agriculture related at least 65% vacant for two years preceding eligibility certification
For non-income producing-homeowner credits:
Property must be National Register listed or be contributing to a National Register Historic District.
Credit 15% of eligible rehabilitation expenses
Project threshold reduced to $10,000 of rehabilitation credits.
The following maps shows the boundaries of the Leaksville Commercial Historic District. Please visit the State Historic Preservation Office for information and contacts about the Historic Tax Credit program.