Alabama Historic Tax Credit - Update from the Past Year
September 15, 2022
The committee overseeing the Alabama Historic Tax Credit (“Tax Credit”) continues its work. Over the past year, the committee has approved 29 new or supplemental project applications. Of the 29 approved projects, 15 are in rural counties while 14 are in urban counties. With limited funding available before the program renews in 2023, all 14 urban projects and 2.5 rural projects are on a waitlist for funds as they become available.
(NOTE: Projects marked supplemental indicates a project’s second or supplemental request.)
Urban Projects:
| Building (Location) | Amount Requested |
| Antomanchi House (Mobile) - Supplemental | $62,978 |
| Fernbank Apartments (Mobile) - Supplemental | $60,739.75 |
| Fry Building (Mobile) | $500,000 |
| Greystone Building (Mobile) | $1,625,000 |
| Raphael Semmes School (Mobile) | $1,750,000 |
| Birmingham Hardware Building (Birmingham) | $156,250 |
| Martin Building (Supplemental) (Birmingham) | $1,624,183.50 |
| 12 Office Park Circle (Birmingham) | $1,250,000 |
| Prince Hall Grande Lodge Colored Masonic Temple (Birmingham) | $5,000,000 |
| Magnolia Point (Birmingham) | $561,187.50 |
| E. Haskins Williams House (Birmingham) | $162,500 |
| Dixie Cycle Shop (Birmingham) | $1,125,000 |
| 1709 1st Avenue North (Birmingham) | $2,250,000 |
| Tagsherer Building (Foley) | $487,102 |
Rural Projects:
| Building (Location) | Amount Requested |
| Ide/Profile Cotton Mill (Jacksonville) - Waitlist | $3,204,408.25 |
| Moody Hospital (Dothan) | $546,003.50 ($1 M waitlisted) |
| Fort McClellan Post Hospital (Anniston) | $499,273.25 |
| Fort McClellan Industrial Historic District A and B (Anniston) | $3,600,948 |
| Fort McClellan Industrial HD Sub-districts C and D (Anniston) | $1,422,489.50 |
| Dr. Pepper Bottling Plant (Florence) | $175,000 |
| Town Terrace (Dothan) | $875,000 |
| 309 Church Street NE (Decatur) | $24,000 |
| Simpson's Florist (Decatur) | $25,000 |
| St. James Hotel (Selma) - Supplemental | $358,239 |
| Prestwood Building (Atmore) | $500,000 |
| Pepsi-Cola Bottling Building (Atmore) - Supplemental | $4,298.75 |
| Chevrolet of Atmore (Atmore) - Waitlist | $400,000 |
| Fain Theatre (Wetumpka) - Supplemental | $7,248 |
| William B. Wills House (Eutaw) | $11,696.75 |
You can view these projects, those approved in the past, and whether the project was rescinded or dropped on our interactive map below.
Background
The Alabama Legislature renewed the Historic Tax Credit in 2017 and again in 2021, setting aside $200 million spread over ten years (2018 to 2027). The $20 million annual funds are split with 40% ($8 million) reserved for projects in rural counties and 60% ($12 million) reserved for projects in urban counties. As anticipated, applications from urban projects have far outpaced those from rural projects with over twenty urban projects on the waitlist. Waitlisted urban projects can receive an allocation if rural projects do not use up the entire rural allocation for a year. Waitlisted projects may also receive an allocation from 2023 to 2027 with the recent renewal of the Historic Tax Credit by the Alabama Legislature for another five years.
The map above shows where each project, including rescinded, is located.