Two buildings in Fergus Falls listed on the National Register of Historic Places have a lot at stake as the 2021 Legislature meets in St. Paul.
According to Alta Via Consulting, a communications team representing the RevitalizeMN Coalition, the former Regional Treatment Center and the River Inn are among the many places in Fergus Falls on the register. Both currently house apartments and have generated an economic impact of $7.9 million.
It is also feared the state could lose up to $125 million annually in labor income along with thousands of jobs.
Fergus Falls is one of the first outstate communities to have a Heritage Preservation Commission.
It is feared that if the Legislature does not continue to offer the tax credit, deeming them eligible for future tax credit dollars, 25 historic buildings in Otter Tail County could be in danger of losing funding that would help aid preservation.
Bills are soon to be offered in both houses of the Legislature to extend the state tax credit.
State and federal governments have both offered credit rates of 20% giving the buildings on the historic register credits equal to 40% of qualifying expenses. The credit applies to expenditures needed to rehabilitate a qualified building.
The current owner of the Regional Treatment Center is the city of Fergus Falls. Pat and Wallace Orfield of Minneapolis own the River Inn.