Alabama’s Revamped Historic Tax Credit Aims to Spur Growth in Smaller Cities Too

The Admiral Hotel in downtown Mobile, Ala., was built in 1940. The 170-room hotel’s $16.2 million renovation included changes throughout the interior of the building. Mississippi-based Thrash Development purchased the hotel in 2014 and proceeded with the project thanks to tax credits. It is now part of the Curio Collection by Hilton. (Sharon Steinmann / al.com)

Alabama’s renewed Historic Tax Credit program caps the total amount of tax credits per year at $20 million, and no single project can receive more than $5 million. There are some differences in the newest version, and chief among them is a requirement that 40 percent of the tax credits awarded each year be reserved for counties with 175,000 or fewer people. (That excludes Jefferson, Mobile, Madison, Montgomery, Baldwin, Shelby and Tuscaloosa counties).

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