Rochester, N.Y.- Senator Chuck Schumer visited Rochester Monday to talk about plans to help revitalize dozens of city landmark building.
Schumer is proposing an extension of tax credits to encourage developers to renovate underused historic buildings.
He wants to extend the New Markets Tax Credit, set to expire at year's end, and he supports the Creating American Prosperity through Preservation Act. The latter would increase the Historic Tax credit and make more buildings eligible.
Monday, Senator Schumer toured the Academy Building on South Fitzhugh Street. He says his plan would also help landmarks such as the Eastman Dental Dispensary, the Sibley Building, and the Cox Building.
“Let’s be clear,” said Schumer. “Federal tax credits can’t guarantee the successes of specific projects, but they give them a greater fighting chance to succeed. They encourage more people to invest, they help our aging treasures. So, I believe the federal government shouldn’t wait another minute before we do this.”