DES MOINES, Iowa — More than half of Iowa’s historic preservation tax credits are going to a single downtown project that’s been ongoing for nearly four years.
Hotel Fort Des Moines was awarded more than $16 million in tax credits. The iconic building closed for a $40 million renovation project back in November 2015.
The Historic Preservation Tax Credit program provides state income tax credits to projects for rehabilitation of historic buildings. A total of $29.2 million in tax credits were announced Monday.
The Iowa Economic Development Authority says they received 19 applications and ranked the projects based on readiness, financing and local support. Seven other projects also received tax credits. The only other one in the metro is the Morgan Auto Company garage in West Des Moines.