Historic rehab credit on breakfast menu

BANGOR – The Maine Real Estate & Development Association will host a breakfast seminar in Bangor next month on Maine’s historic rehabilitation tax credit.

The breakfast, sponsored by Bangor Savings Bank, Drummond Woodsum & MacMahon, and WBRC Architects Engineers, will be held 7:30-9:30 a.m. Tuesday, Sept. 23, at the Sea Dog Banquet & Conference Center, 26 Front St.

The Maine Legislature earlier this year expanded the credit to provide a state credit equal to 25 percent of qualified rehabilitation expenditures. Projects that involve a substantial affordable housing component receive a 30 percent credit. The federal credit adds an additional 20 percent of qualified rehabilitation expenditures.

The seminar panelists will be Amy Cole Ives, founder of Sutherland Conservation & Consulting in Hallowell; and John Kaminski and Gary Vogel, attorneys at Drummond Woodsum & MacMahon in Portland. They will discuss the requirements and potential uses of the credit as a tool for historic preservation and development, the linkage of the increased credit to affordable housing and the impact that the credit is expected to have on historic preservation in Maine.

For more information or to register, contact MEREDA office at 874-0801 or visit www.mereda.org.