City of Wilmington still in limbo on historic tax credit - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

City of Wilmington still in limbo on historic tax credit

The state's historic preservation tax program could be allowed to run out at the end of the year. The state's historic preservation tax program could be allowed to run out at the end of the year.
WILMINGTON, NC (WECT) -

Wilmington residents continue to worry about the fate of a tax credit in North Carolina. The state's historic preservation tax program could be allowed to run out at the end of the year.

Kevin O'Grady, a Wilmington City Council member, is directly affected by the legislation. He lives in a historic home on Nutt Street.

"Visitors come by and read the plaque almost daily and its part of the charm of our city and part of the heritage of this state, and I got a little help with that from the state," O'Grady explained.

O'Grady is worried about the potential impact of losing the credit.

"It looks bad," O'Grady said. "What I'm hearing is that there may be some credit for commercial buildings, but it doesn't look good for the residential buildings."

The council member thinks the state legislature should continue to help paying for the credit.

"The homeowners take on not only the burden of fixing their own home, but preserving the heritage of the state. What they're saying now is they don't care," said O'Grady about state lawmakers.

City staffers in Raleigh tell WECT the matter has not been discussed in the state house budget as of Tuesday, but may be introduced as an amendment.

Copyright 2014 WECT. All rights reserved.

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