BUILDING RESOURCES
Information and tools related to downtown spaces, preservation, and redevelopment opportunities.
Matching Grant
Signage Incentive
The Main Street Fort Dodge Facade Component and Signage Incentive program is designed
to assist downtown MSFD businesses with purposeful improvements focusing on
rehabilitation, beautification, accessibility, and visibility.
Grant Amount: Up to $5,000 in reimbursement.
• Match Requirement: Minimum 50% match from the applicant.
• Funding Cycle: Applications are considered on an on-going basis until funds are
expended for the calendar year.
• Frequency: One grant per building per 12-month period.
Tax Credits
ADA Federal Tax Credit
This federal tax credit was created to help small businesses cover ADA-related eligible access expenditures. A business that for the previous tax year had either revenue of $1,000,000 or less or 30 or fewer full-time workers may take advantage of this credit. This federal tax credit can cover 50% of the eligible access expenditures in a year up to $10,250 (maximum credit of $5000). In addition, the tax deduction is available to all businesses with a maximum deduction of $15,000 per year for the other costs the credit doesn’t cover. The tax deduction can be claimed for expenses incurred in barrier removal and alterations.
Brownfield/Grayfield Tax Credit Program
State and federal incentive programs exist that can make the purchase and redevelopment of a Brownfield site a good economic opportunity for many businesses. These incentive programs exist because Brownfield redevelopment can promote general economic health by reducing environmental hazards, cleaning up neighborhood eyesores, creating jobs, boosting tax revenue, and so on. Brownfield sites are abandoned, idled or underutilized industrial or commercial properties where real or perceived environmental contamination prevents productive expansion or redevelopment. Examples of Brownfield sites include former gas stations, dry cleaners, and other commercial operations that may have utilized products or materials potentially hazardous to the environment. Grayfield sites are industrial or commercial properties that are vacant, blighted, obsolete, or otherwise underutilized. A grayfield has been developed and has infrastructure in place but the property’s current use is outdated or prevents a better or more efficient use of the property. Iowa law defines a grayfield as having improvements and infrastructure that are at least 25 years old and one or more of the following conditions exists:
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Thirty percent or more of a building located on the property that is available for occupancy has been vacant or unoccupied for a period of twelve months or more.
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The assessed value of the improvements on the property has decreased by 25% or more.
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The property is currently being used as a parking lot.
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The improvements on the property no longer exist.
Iowa Workforce Housing Tax Credit Program
This is a state program offered through the Iowa Economic Development Authority (IEDA) which provides tax benefits to developers providing housing in Iowa. This program has a focus on abandoned, empty, or dilapidated properties meeting at least one of the program’s eligibility criteria. The incentive is offered via refunds for sales, service, or use tax as well as state income tax credits. Developers may receive a state investment tax credit of up to 20% of the investment directly related to the construction or rehabilitation of housing projects containing the following minimum units: at least 3 units in a multi-family complex or at least 2 upper-story units. Projects must be completed within a three-year timeframe. The tax credit is based on the new investment used for the first $150,000 of value for each home or unit. Total project costs may not exceed $200,000 per unit for new construction or $215,000 per unit for historic rehabilitation. Investment tax credits are fully transferrable. IEDA accepts applications for this highly competitive program annually. For further information on this program and its eligibility criteria, please visit IEDA’s website.
Preservation Funds
The National Trust for Historic Preservation, a privately-funded non-profit organization, works to save America’s historic places to enrich our future. The National Trust's grant programs have assisted thousands of innovative preservation projects that protect the continuity, diversity, and beauty of our communities. There are several grant programs available for use in Iowa. Eligible applicants are non-profit (501(c) (3) organizations and public agencies. Please contact the National Trust for grant details at grants@nthp.org or 202-588-6277. Please note that these funds are for planning grants -- the costs associated with actual restoration of a structure would not be fundable. However, if your organization needs to hire a consultant, prepare a preservation plan, or investigate reuse possibilities for a historic structure, these types of planning activities could be fundable.
Historic Tax Credits
The State Historic Preservation Office (SHPO) of the State Historical Society of Iowa administers the State Historic Preservation Tax Incentive Program and participates in the certification process for the Federal Historic Preservation Tax Incentives and county Historic Property Tax Exemption programs. The entire rehabilitation project must meet the Secretary of the Interior’s Standards when utilizing historic tax credits.
Federal Historic Preservation Tax Incentives Program
20% or 10% of qualified rehabilitation costs
Description: 20% of qualified rehabilitation costs are available as a credit against federal income taxes on income-producing historic properties. Rehabilitation work on historic properties must be “substantial” (an IRS test) and meet the Secretary of the Interior’s Standards for Rehabilitation and Guidelines for Rehabilitating Historic Buildings. Applications and photos must be reviewed by the SHPO and be approved by the National Park Service.
Eligibility Requirements: Properties must be listed on the National Register or be evaluated as National Register eligible and then listed within 30 months after claiming the credit on IRS tax forms. (A 10% tax credit is also available for non-historic, non-residential, income-producing properties built before 1936. These properties can neither be listed on the National Register nor be a contributing resource in a National Register-listed historic district.) Additional information
Statewide Historic Projects
Description: 25% of qualified rehabilitation costs are available as a credit against the owner(s) state income taxes. Properties do not need to be income-producing. The SHPO cannot reserve credits for more than three years into the future. For a residential property or barn constructed before 1937, the cost of a qualified rehabilitation project must exceed either $25,000 or 25% of the assessed value (less the land value) - whichever is less. For commercial properties, the rehabilitation project must exceed 50% of the assessed value of the property (less the land value) before rehabilitation. If there is no assessed value the insured value can be used. Rehabilitation work must meet the Secretary of the Interior’s Standards for Rehabilitation and Guidelines for Rehabilitating Historic Buildings.
Eligibility Requirements: Properties must be listed on or eligible for listing on the National Register of Historic Places or barns constructed before 1937 or barns that are eligible or listed on the National Register of Historic Places. Additional information
Temporary Historic Property Tax Exemption
4-year “freeze” on property tax increases, then 25% increase per year to adjusted value after rehabilitation.
Description: Local property tax incentive for the sensitive, "substantial rehabilitation" of historic buildings. Property taxes remain the same for four years followed by increases of 25% per year for the following four years. Two applications are required – one from SHPO and one from the county assessor.
Eligibility Requirements: Properties must be listed on or eligible for listing on the National Register, contributing to National Register or local historic districts, or designated by a county or municipal landmark ordinance.
The property must also be eligible based on the specific county's priority list for that tax year. The County Board of Supervisors will establish priorities for which an exemption may be granted and will annually designate real property in the county for a historic property tax exemption. A public meeting must be held, with notice given, at which the proposed priority list will be presented. Additional information
