On Tuesday, July 14, Kentucky Governor Steve Beshear signed Historic Preservation Incentives legislation into law.

The legislation brought about changes to the Kentucky Historic Preservation Tax Credit Program, which is administered by the Kentucky Heritage Council/State Historic Preservation Office. The key change was increasing the cap on tax credits the program offers from $3 million to $5 million a year.

We at Restore Colonial Gardens believe this presents an excellent opportunity for the ultimate re-developer of the Colonial Gardens building.

“These changes will provide more incentives to individuals, businesses and governments to invest in preservation projects,” said Tourism, Arts and Heritage Secretary Marcheta Sparrow.  “This means jobs for craftsmen, construction workers, architects and others who work in historic preservation.”

Conversion of this fine historic landmark into something productive for Kenwood Hill and the surrounding neighborhoods is now not nearly as off-putting as it once was.