State Representative Chad Weiniger, (R) Green Bay, announced legislation to boost the state historic tax credit program at a news conference inside the Hotel Northland. It would increase the current five-percent tax credit, for redevelopment of historic properties to between twenty and twenty-five percent.
It would allow a five-percent credit match for buildings constructed before 1926.
Mayor Jim Schmitt says such incentives are needed for properties like the Hotel Northland.
"Right here in downtown Green Bay with a beautiful property that we're standing in now, that's going to be a significant redevelopment. And we need the participation of the city, we need it from the federal government and we need it form the state," Mayor Schmitt said.
Mayor Schmitt says he'll have a "significant announcement on the Hotel Northland" during the State of the City address on Wednesday.
Local 5's Terry Kovarik is following this story. He'll have the details at 4 PM, 5 PM & 6 PM.