Updated 06/22/2007 12:37 AM
Legislation could provide tax incentives for historic buildings
Elmira has some signature structures: City Hall and the county courthouse among others.
"The structures that we have here that go back hundreds of years are what makes us unique. We shouldn't get rid of that. We should try to keep it," said Laurie Liberatore, of Howell, Liberatore and Wickham.
Keeping up with beautiful old buildings, however, can get expensive.
"Buying property in the city, developing property in the city can be thwarted by the cost of investment to moving older buildings into modern code," said Elmira Mayor John Tonello.
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Proposed legislation would strengthen existing law by giving most current or future property owners a 30 percent tax credit to make historic improvements.
"Being able to offer developers and people who want to invest in the city of Elmira tax incentives is a very positive thing," Tonello said.
"It would afford the city to consider saving some of the structures that I think are in jeopardy," Liberatore said.
The benefit would apply to the development of many of the vacant buildings in Elmira's downtown and also to the homes in the Near Westside Historic District.
"I think it could restore that neighborhood to the gem it should be and reverse the blight we're seeing there now," said Elmira Community Development Director Cheryl Box.
By encouraging existing owners to live in their buildings and preserve their historic integrity. Downtown, city leaders say the incentives could attract new property owners.
"I really feel that that is a tool that would help us market those buildings and get them revitalized," Box said.
So the structures will stay signature for hundreds of years to come.
The legislation has cleared the state Senate and is pending in the Assembly.