State Sen. John Yudichak (D-Luzerne/Carbon) and Rep. Eddie Day Pashinski (D – Luzerne) announced Monday a $100,000 Historic Preservation Tax Credit from the Pennsylvania Department of Community & Economic Development (DCED) and the Pennsylvania Historical and Museum Commission.
The tax credit will be used to rehabilitate the Spring Brook Water Supply Company building in the River Street Historical District in Wilkes-Barre for the Mechanical and Electrical Engineering program at King’s College. The project has an estimated construction expenditure of $4.6 million.
“Public-private partnerships are the driving force behind the economic revitalization occurring in downtown Wilkes-Barre,” Yudichak said. “As the engineering program continues to grow at King’s College, students will work toward their future goals while honoring the history of the Spring Brook Water Supply Company building.”
The Historic Preservation Tax Credit program, administered by DCED and the Pennsylvania Historical and Museum Commission since 2013, has invested more than $18 million to rehabilitate 105 historic buildings with an estimated $1.5 billion in construction expenditures.
“I’m pleased that this competitive tax credit has been allocated and will help King’s College preserve this beautiful building while advancing their Mechanical and Electrical Engineering program,” Pashinski said. “This credit will go a long way to ensure the Spring Brook Water Supply Company building is utilized and enjoyed for generations to come.”