HB 851: The Wave of the Future

Sure it sounds like some type of experimental drug--especially when it's called the wave of the future, which was solely my discretion--but HB 851 may be that thing that finally cures what ails us. It might be the sort of incentive that lures capital investments into Downtown and Intown so that these boarded-up storefronts and dilapidated houses get the renovation they need. Local developer Gene Dunwoody says it might be our "tipping point", meaning the city of Macon may finally deliver on its pregnant potential to be the rockingest little place in all of Middle Georgia.

But how? You ask.

Currently, the state of Georgia puts a $5000 cap on the income tax credit one can receive for rehabilitating a historic property. That amount is often too small for people to pursue, and it certainly isn't enough to motivate someone to choose the process of fixin' up an old building instead of building a new one. So, HB 851 would first remove that limit, and then replace it with a credit worth up to 25% of the rehab cost (sorry, one per project). For residential projects, over a ten year span, that would mean a cap of one-hundred thousand dizz-ollars. For a "certified" (aka commercial) structure, that limit is triple over the same amount of time.

Where those measly five g's failed, these six figures should prevail. That's why Gene Dunwoody says it might be our tipping point. This might be what it takes to bring the big bucks to our endangered downtown area.

And he brought up a great point too. This works to draw in potential homeowners. On the same principal, they'd be more likely to invest in the cost of rehabilitating an old home versus settling in North Macon (or elsewhere) in newer construction. The reason that matters is that a lot of those big dollar investors that we'd all like to see downtown usually look to plop down in areas that people actually live in. So, you kill a couple birds with one stone on this bad boy: save historic properties, revitalize the downtown and intown areas, and bring commerce and population back to the center of the city. Yee-haw!

For this, you can thank Bettye-Lou Brown at Historic Macon for giving Representative Allen Peake a phone call. He has become, she says, their "champion". They've been all about it, bout it.
House Bill 851 swept through the Georgia House, with support from our other local representatives (Randall, Freeman, Lucas) with only one "nay", and now it faces the state senate. That means it is time for you to get on the horn with your representatives, Mr. Cecil Stanton and Mr. Robert Brown.

And of course, I've included their info down below. (I threw in the Governor too since he's the final step.)

Robert Brown
Capitol Office:
121-B State Capitol
Atlanta, GA 30334
Phone: (404) 656-5035
Fax: (404) 463-2071

District Office:
PO Box 5742
Macon, GA 31208
(478) 750-0220
robert.brown@senate.ga.gov

Cecil Stanton:
Capitol Office:
303-B Coverdell Legislative Office Building
Atlanta, GA 30334
Phone: (404) 656-5039
Fax: (404) 656-6484

District Office:
P.O. Box 26427
Macon, GA 31221
Phone: (478) 757-0983 (O)
(478) 757-1305 (H)

cecil.staton@senate.ga.gov

Gov. Sonny Perdue
203 State Capitol
Atlanta, GA 30334
Phone: (404) 656-1776
Fax: (404) 656-5947

email is a web form