Parlaying a familiarity with the Minneapolis/St. Paul marketplace and a large body of experience in the renovation and adaptive re-use of existing structures, FitzGerald Associates Architects has established a service and marketing presence in the Twin Cities-spearheaded by FitzGerald architect and recent Master of Real Estate degree recipient Kurtis Morton, AIA LEED AP-to follow up on the opportunities created by Minnesota’s newly enacted historic tax credit legislation.
To quote the state’s news release (emphasis added):
“The Minnesota Rehab Tax Credit was signed into law in April 2010 as an incentive to stimulate job growth, increase local tax base and revitalize communities across the state by encouraging private investment in historic properties. The state rehab tax credit mirrors the 20% federal historic preservation tax credit. Property owners who are undertaking a historic rehabilitation project are eligible to receive a state income tax credit of up to 20% of qualifying rehabilitation expenses. A unique feature of the Minnesota legislation allows owners to receive a grant in lieu of a credit equal to 90% of the allowable credit.”
With strong connections to the Minneapolis metro area and its development community, FitzGerald Associates is encouraged by the impact this new legislation will have on a revitalized development market. We look forward to shoring up strategic partners in the area and continuing to take what we’ve learned over nearly a century in Chicago urban markets and bring it to the Twin Cities’ dynamic community.
In addition to his expanded role as FitzGerald Ambassador to the Twin Cities, Kurtis will continue his duties as a Project Architect on project teams based in Chicago.