Peoria’s Warehouse Historic District is now part of National Register of Historic Places.
The Illinois Historic Preservation Agency approved the City’s application earlier this month.
The designation provides building owners access to Historic Tax Credits to offset the cost of improving their structures.
Peoria Assistant City Manager Chris Setti says Warehouse District property owners need to act quickly if they want to use the Tax Credits. He says they expire in 2016.
If a property owner is using the tax credits to offset the costs of renovations they are required to observe the preservation guidelines.But property owners are not required to take advantage of the Tax Credits and in that case can renovate their building however they see fit.