Historical - Nat'l Register Upper Main ST.
STATE
HISTORICAL
I SOCIETY of
OWA
A Division of the Iowa Department of Cultural Affairs
l )
April 27, 2005
The Honorable Terry Dugan
Mayor
50 W. 13th Street
Dubuque, IA 52001-4864
(:.1
RE: Upper Main Street Historic District, 1000's-1100's Main Street, Dubuque, Dubuque County
Dear Mayor Dugan:
We are pleased to inform you that the above named property, which is located within your community, was listed in the
National Register of Historic Places effective April 11, 2005.
Listing in the National Register provides the following benefits:
· Consideration in the planning for Federal, federally licensed, and federally assisted projects. Section 106
of the National Historic Preservation Act of 1966 requires Federal agencies allow the Advisory Council on
Historic Preservation an opportunity to comment on projects affecting historic properties listed in the
National Register. For further information please refer to 36 CFR 800.
· Eligibility for Federal tax benefits. If a property is listed in the National Register, certain Federal tax
provisions may apply. The Tax Reform Act of 1986 revises the historic preservation tax incentives
authorized by Congress in the Tax Reform Act of 1976, the Revenue Act of 1978, the Tax Treatment
Extension Act of 1980, the Economic Recovery Tax Act of 1981, and Tax Reform Act of 1984, and as of
January 1, 1987, provides for a 20 percent investment tax credit with a full adjustment to basis for
rehabilitating historic commercial, industrial, and rental residential buildings. The former 15 percent and
20 percent investment Tax Credits CITCs) for rehabilitations of older commercial buildings are combined
into a single 10 percent ITC for commercial or industrial buildings built before 1936. The Tax Treatment
Extension Act of 1980 provides Federal tax deductions for charitable contributions for conservation
purposes of partial interests in historically important land areas or structures. For further information
please refer to 36 CFR 67 and Treasury Regulation Sections 1.48-12 (ITCs) and 1.170A-14 (charitable
contributions).
· Consideration of historic values in the decision to issue a surface coal mining permit where coal is located,
in accord with the Surface Mining and Control Act of 1977. For further information, please refer to 30
CFR 700 et seq.
· Qualification for Federal and State grants for historic preservation when funds are available.
· Eligibility for State Tax Credits for rehabilitation. Properties listed on the National Register, eligible for listing on
the National Register or Barns constructed before 1937 are eligible to apply for a 25 percent state tax credit for
rehabilitation. The cost of a 24-month qualified rehabilitation project would exceed either $25,000 or 25 percent of
the fair market value for a residential property or barn less the land before rehabilitation. For commercial properties,
the rehabilitation project would exceed 50 percent of the assessed value of the property less the land before
rehabilitation - whichever is less. The State Historic Preservation office must approve the rehabilitation work before
an amount oftax credits will be reserved for your project. There are limited credits available each year, so let us
know if you want the application information.
600 EAST LOCUST STREET, DES MOINES, IA 50319-0290 P: (515) 281-5111
Should you have any questions about the National Register of Historic Places, Tax Incentives or about this nomination in
particular, please feel free to contact me by telephone at 515-281-4137 or bye-mail at beth.foster@iowa.gov. You may
enjoy visiting the National Register website at http://www.cr.nps.gov/nr/index.htm.
Sincerely,
/.[~!; .f .1 \.../} , ~-J~ '1 .,
L'~7qjJ,U:;C/'It:i4.lf/) K.J,<.Jf./
U ',- for
Lowell Soike
Deputy State Historic Preservation Officer