ADGW Announces Receipt of Historic Tax Credits
A.D. German Warehouse Conservancy, Inc. Announces
Receipt Of Historic Tax Credits
Richland Center, Wis. - The Board of Directors and the Capital Campaign Leadership Team are proud to announce that historic preservation tax credits have been approved for the restoration of the A.D. German Warehouse and the adjoining 1912 Warehouse on January 25, 2019. These credits will provide a minimum of $1,3000,000 in funding that will be combined with more than $550,000 that has already been received from private donors. Many additional requests to private and public funding sources are in process. The total cost is $4,000,000; the project has grown in size and scope since its inception as plans and potential uses for the building have developed.
The tax credit program is very competitive. Receipt of these credits required many months of careful planning, research and preparation by ADGWC volunteers and professionals including Isthmus Architecture, Henneman Engineering and raSmith engineers. For the past 40 years, the Federal Historic Preservation Tax Incentives Program (FHPTIP) has encouraged private sector investment in the rehabilitation and re-use of historic buildings.
This program is administered by the National Parks Service. The FHPTIP works in partnership with the Internal Revenue Service and state historic preservation officers (SHPO) located in each state. On the state level there is a similar preservation incentive in some states. Wisconsin Historic Preservation Tax Credits are administered by the Wisconsin Economic Development Corporation (WEDC). For qualifying projects, 20% of the rehabilitation costs are eligible for federal credit and in Wisconsin another 20% is eligible for state credits. Since the federal Tax Reform Act of 1976, these programs have facilitated the re-use of over 42,000 existing buildings with historic significance. The programs have attracted over $84 billion in new private capital to towns and cities across the nation. The average return on investment for the state and federal governments has averaged 8 to 1.
In the preparation for this project, much has come to light on the design and construction of this building designed by Frank Lloyd Wright. Recent historic research and documentation elevates the significance of the Warehouse, specifically regarding Wright’s development and innovation in cast concrete. Lessons learned at the Warehouse informed Wright’s next architectural innovations in Los Angeles and the Hollywood Hills.
Although German was ultimately unsuccessful in his business and the Warehouse has been underutilized these past 100 years, it has enormous future potential. Architecture followers, scholars and practitioners from the world-over continue to visit and study the A. D. German Warehouse. It remains as physical evidence of Wright’s early innovation and an excellent example of his approach to design. Wright liked to say the building is of its time and of its place, but the Warehouse also exudes a timeless, enduring, quality. The massive concrete frieze is richly ornamented, combining structure and decoration.
Today, the building remains completely usable, suitable to a variety of uses that are in development. The Warehouse can help satisfy current local needs, thereby supporting and enriching the local economy. The building has been a great dormant asset in Richland Center that is now poised to help re-energize the region. Wright’s innovation at the Warehouse has all the ingredients to become an exciting destination for aspiring business innovators in the Driftless region. It is a world-class landmark in small town Wisconsin.