Ottawa, ON November 21, 2008 – This week’s Speech from the
Throne contained no direct references to heritage buildings. But
the emphasis on stimulating the economy, meeting pressing social
needs and tackling climate change is a perfect fit with the
Heritage Canada Foundation’s call for a federal tax credit to
stimulate investment in the rehabilitation of older buildings.
“Affordable housing, green building, economic renewal—old
buildings hold solutions for these big challenges,” said Natalie
Bull, executive director, speaking from HCF’s headquarters in
Ottawa. “The rehabilitation and re-use of old buildings reduces
waste, generates less carbon, creates more jobs than new
construction, revitalizes communities and attracts tourist dollars.”
The Heritage Canada Foundation has long promoted the introduction
of federal tax measures that would attract developers to invest in
existing buildings, and encourage homeowners to upgrade older
homes. In the United States, The Economic Recovery Tax Act of 1981
introduced heritage-friendly changes to the federal tax system
designed to stimulate the economy. The results are impressive: over
$25 billion in private investment in historic buildings—much of it
in urban neighbourhoods and commercial districts; over 60,000 units
of low and moderate income housing created; and an average of 45
new jobs per rehab project.
Created in 1973 as the National Trust for Canada, the Heritage
Canada Foundation is a national, membership-based, non profit
organization with a mandate to promote the preservation of
Canada’s historic buildings and places. Visit http://www.heritagecanada.org
For further information:
Carolyn Quinn, Director of Communications, cquinn@heritagecanada.org
Telephone: 613-237-1066 ext. 229; Cell: 613-797-7206