Page 58 - Denver, CO Adaptive Reuse Program

improvements. Expenditures that do not qualify include property
acquisition, grading, new additions, furnishing, landscaping and
any “soft costs” including insurance, loan fees and appraisals.
More information about this tax credit can be found on the State
of Colorado’s Office of Economic Development & International
Trade, or through the DEDO website.

iii. State and Federal Rehabilitation Tax Credits
Some properties along East Colfax may qualify for state and feder-
al rehabilitation tax credits, if the property is listed in the National
Register of Historic Places, is listed in the State Register, and/or
is designated as a Denver Landmark. Note that work done to a
historic property that may qualify for one of these tax credits may
also require a Certificate of Appropriateness from Denver Land-
mark Preservation prior to beginning work. Landmark Preserva-
tion staff assists applicants in determining whether the Certificate
of Appropriateness is required and helps them through the design
review process.

The State Historic Preservation Income Tax Credit is available
for preservation and rehabilitation work on designated historic
properties. Along the East Colfax corridor, these will mostly be
commercial projects, which can receive up to a 25% credit and
a higher maximum credit than the residential program. Detailed
information regarding how a property qualifies and how someone
can apply can be found on the Colorado Office of Economic De-
velopment and International Trade website.

The Federal Rehabilitation Tax Credit is available for the rehabili-
tation of designated historic properties that are income-producing
buildings (owner-occupied residential buildings do not qualify)
that are listed on the National Register of Historic Places. Prop-
erties listed to the State and Local Registers do not qualify. This
is a 20% tax credit that must be used for qualified rehabilitation
expenses (as defined by the IRS). The work must be done in com-
pliance with the Secretary of the Interior’s Standards for Rehabil-
itation. More information about the 20% tax credit can be found
on the Technical Preservation Services webpage of the National
Park Service website.

54 City of Denver, CO