Virginias historic tax credit could come under scrutiny

Developer Guy Blundon just finished renovating the former Victory Rug Cleaning Co. building in Richmond into 12 apartments.

He plans to use federal and state historic tax credits to offset the $1.25 million he put into the building at 407 S. Cherry St. He bought the building as part of a bankruptcy auction in 2011 for $600,000.

An online service is needed to view this article in its entirety. You need an online service to view this article in its entirety.

Or, use your linked account:

Or, use your linked account:

kAmx 4@F=5?E 92G6 5@?6 E9:D 3F:=5:?8 :7 :E H6C6?E 7@C E2I 4C65:ED[ q=F?5@? D2:5] xE >2<6D :E D@ >F49 >@C6 6IA6?D:G6 E@ 5@ E96 C6?@G2E:@?]k^Am

kAm%96 DE2E6 9:DE@C:4 C6923:=:E2E:@? E2I 4C65:E[ A92D65 😕 D:?46 :E H2D DE2CE65 😕 `hhf[ 6?E:E=6D 56G6=@A6CD E@ E2I 4C65:ED @7 ad A6C46?E @7 6=:8:3=6 6IA6?D6D @? C6?@G2E:@?D @7 46CE:7:65 9:DE@C:4 DECF4EFC6D]k^Am

kAmr@>3:?65 H:E9 E96 7656C2= 4C65:E @7 a_ A6C46?E[ 56G6=@A6CD 42? 4=2:> E@E2= 4C65:ED @7 cd A6C46?E @7 6=:8:3=6 6IA6?D6D]k^Am

kAm%96 9:DE@C:4 E2I 4C65:E 92D AC@G6? :ED6=7 ?@E @?=J 2D 2 H2J E@ AC6D6CG6 2?5 C6923:=:E2E6 3F:=5:?8D[ 3FE 2=D@ E@ 3C62E96 ?6H =:76 :?E@ 4:E:6D 2?5 AC@>@E6 64@?@>:4 C6G:E2=:K2E:@?]k^Am

kAmqFE 2 3:== 367@C6 E9:D J62CD v6?6C2= pDD6>3=J 925 AC@A@D65 E@ D6E 2? 6IA:C2E:@? 52E6 7@C E96 DE2E6 AC@8C2>]k^Am

Continued here:
Virginias historic tax credit could come under scrutiny