Lyman Iowa Building, Cedar Rapids
(Des Moines, IA) -- The state of Iowa is approving more than $25 (M) million in tax credits for historic building restorations, including more than $5 million in credits to the Lyman Iowa Building in Cedar Rapids. The seven-floor building has commercial space on the ground level and more than 40-apartments in the upper floors. The building, built in 1913, was placed on the National Register of Historic Places in 1983.
The Iowa Department of Economic Development Authority is also approving Historic Preservation Tax Credits to a project at LeClaire Hall at St. Ambrose University in Davenport. The tax credit for that project is $3.4 million. The project involves adapting the former pool and gym for classrooms and offices.
The IDEA is also approving three properties in Marshalltown, the Hopkins, the Gildner, and the Willard building. Historic preservation tax credits are also going to projects in Burlington, Cedar Rapids, Clinton, Des Moines, Downey, Dubuque, and Dyersville.