Developers Line up for historic tax credit: Star Tribune

June 15, 2011 - Despite the state of the economy, major renovations on several historical buildings will be taking place this year and next year. These buildings include the Schmidt Brewery and Pillsbury A. Mill buildings, both to be acquired by Dominium.

This upsurge in the buying and renovating of historical buildings may be partially due to the historic tax credit which gives developers a 20 percent tax credit in aiding rehabilitation.

"It's absolutely huge," said Chris Barnes, an executive at Plymouth based Dominium, "It ultimately made the difference between them being feasible and not feasible."

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