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Tax credits preserve state's treasures

Recipients of the 2004 Preservation Honor Awards express the importance of the historic preservation tax credit in Missouri. Matt Johnson tells how the credits help those who preserve the state's treasures.

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More than 100 people showed up in the Capitol rotunda applauding recipients of the various preservation awards.

Joe Edwards works in preserving historic buildings in University City and St. Louis.

He says, the historic tax credit is crucial for the state.

"It's one of the most powerful economic tools the state has. It really does generate more taxes, more revenue that can then be spent on education and other things that the state might need."

Some Democratic lawmakers agree the program is worthwhile.

From the State Capitol, I'm Matt Johnson.

Award recipients express the need to preserve Missouri's historic tax credit. Matt Johnson tells why some lawmakers agree.

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St. Louis County Sen. John Loudon expressed support of the credit. He says opponents have no reason not to support the program.

"When you are looking at one dollar and getting ten, I would wager that that is a performance, you are foolish not to make that investment, I think it's just a critical program."

Members of both chambers presented the awards to this year's fifteen recipients.

From the state Capitol, I'm Matt Johnson.

Recipients of the 2004 Preservation awards expressed the importance of Missouri's historic tax credit. Matt Johnson shows how some lawmakers are concerned about the program.

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More than 100 people attended the ceremony. The awards recognized the accomplishments of those who preserve historic buildings.

Democratic Sen. Wayne Goode says the tax credit is important, but poses challenges to the state.

"Tax credits are important, they do good things -- there is no question about that, but the other side of it is, though that they play havoc with the budget because basically those expenditures are out of control."

Members of both chambers expressed support for the credit.

From the state Capitol, I'm Matt Johnson. <