Historic tax credits spared by Gov. Jindal
Shreveport, LA (KMSS) — When Prevot design was picking where to move their office building, they had their pick of many different place, but decided to renovate an old car dealership and home to the Ark-La-Tex Antique and Classic Vehicle Museum.
The design firm absolutely loves the renovated building, but coming in, it took almost two years to bring the worn-down building to its prior beauty. Vice President Paula Prevot knows renovating the building wouldn't have been possible without tax credits to lessen the burden of the expensive venture.
Governor Jindal has proposed sweeping changes to the Louisiana tax system, trying to do away with many of the tax credits offered currently. With those changes possible, there was some worry that other ventures like the Prevots would be stalled or even stopped if the tax credits to renovate historic building ended. Jindal put those worries at ease Tuesday, when he announced the historic building tax credits were not on the list of ones he would like to get rid of.
There may not have been anybody more excited to hear that news than Liz Swaine, the Executive Director of Shreveport's Downtown Development Authority. Her dream for downtown Shreveport is to have no empty storefronts, and she knows how important the tax credits are to her goal.
With the tax credits here to stay, Swaine and other downtown lovers are closer than ever to achieving that dream.