Do you know about the Commercial Revitaliation Deduction? 3

The City of is one of 40 communities in the United States that is eligible to share in Federal tax incentives to stimulate job growth and promote economic development. The current Niagara Falls Renewal Community consists of census tracts 202, 204, 205 206, 209 and certain areas of CT 211 based on the 2000 census data.

Your business may qualify for some of the Federal tax incentives that accompany this designation – the Commercial Revitalization Deduction (CRD), RC Employment Tax Credit, for instance allows businesses located in the RC to claim tax credits for each employee that lives and works in the Niagara Falls RC. You may also be eligible for the Increased Section 179 deduction and Capital Gain Exclusion.

Eligibility Requirements include:

Developers and businesses specializing in redeveloping abandoned and underutilized buildings in RCs.

Developers and businesses undertaking new building construction projects in RCs.

Businesses located in RCs that cannot meet the Renewal Community Business definition (that is, they do not meet the 35% RC resident employee requirement, their employees perform services outside the RC, or too much of their gross income is earned outside the RC).

For more information on the Renewal Community (RC) and the RC credits, please contact Tom Tedesco, Renewal Community Coordinator at (716) 286-4482. You can also consult the IRS web site at and search on Renewal Community for a list of Renewal Community publications. These incentives are available through December 31, 2009.

Please call or stop by City Hall Room #17 to learn more how you can benefit from being located in the Niagara Falls Federal Renewal Community.

Interested in information regarding investing in Niagara Falls Real Estate, please call Colleen Kulikowski at (716) 650-0051 or fill out the form below.

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About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with J. Philip Real Estate specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.

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