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Changes to historic tax credits aims to reinvigorate downtown Green Bay


GREEN BAY, WI (WTAQ) - Proposed legislation aims to help redevelop historic buildings in Wisconsin.

At a press conference Monday, city leaders and state officials unveiled a plan to help encourage investment in historic sites, like the Hotel Northland in downtown Green Bay.

Green Bay Republican State Rep. Chad Weininger announced legislation which would raise the state match of the supplemental historic preservation credit from 5 to 20 percent. That equals the Federal Historic Preservation credit.

The bill also offers a 5 percent state match tax credit for those buildings built before 1936, but don't qualify for the Federal Historic Preservation credit.

"We need to reinvigorate our local main streets, and what better way to do so than by rehabilitating our state's historic buildings," said Weininger. "These tax credits will provide a new place for businesses to grow and prosper and will certainly help reinvestment and redevelopment where it's need most throughout our state."

Green Bay Mayor Jim Schmitt also provided an update on the work to redevelop the landmark hotel.

We'll have more on this story when it becomes available.