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Appendix Al <br />� w a <br />historic <br />� preservation� commission � <br />of south bend and st^^oseK»hcuVmonty <br />nOQM 1123 COUNTY CITY BUILDING <br />south bend, ipdiana46601 (219 284-9798) <br />May 25, 1984 <br />The Honorable John P. Hiler <br />House of Representatives <br />316 Cannon Building <br />Washington, D.C. 20510 <br />Dear Mr. Hi7er: <br />As Vicm-President and spokesperson for the Historic Preservation Commission of South <br />Bend and St, Joseph County, i would strongly urge that you vote against or, if possible, <br />change Amendment #3007 to HR 2063 concerning the limiting of the 25?, Investment Tax Credit <br />for the rehabilitation of certified historic structures. The proposed amendment will <br />change the ITC by requiring the following: a full adjustment of a building's depreciable <br />base by the amount of the ITC instead of one half basis adjustment; a reduction for the <br />202, and 1551 ITC to 75% and |O% respectively; and extension of ACRS depreciation from 15 <br />years to a longer time period (18-20 years)' <br />The Commission is currently involved in a National Register nomination for several <br />buildings in downtown South Bend. The purpose of the nomination is to stimulate <br />reinvestment in our Centra) Business District, create jobs, revitalize our tax base, and <br />preserve irreplaceable elements of our heritage' <br />Radical changes to the rehab credits will undermine all of the aforementioned benefits <br />and bring a slowdown, or total stop, to commercial urban development by private investors. <br />Not only the Central Business District will be affected but also commercial rehab of <br />historic buildings throughout South Bend, the state, and the country. <br />| strongly urge you to consider the detrimental effects of this bill and work towards <br />its demise or change, <br />If more information on our local projects is needed, please contact our office at 219 <br />284-9798' <br />Sincerely, <br />John H. Qxian <br />Vice -President <br />