Virginia Beach:
“History was made at the Cavalier Hotel. Now, it's
officially historic. Once a bustling resort in the Roaring '20s, the regal
Oceanfront hotel has captured state landmark status and is on its way to
national recognition. The hotel has to meet state approval before it can be
eligible for the National Register of Historic Places, which lists sites worthy
of preservation. Recent additions have included the Astrodome in Houston and
the George M. Lightfoot House in Washington.
The state status provides an income tax break for those who
renovate historic buildings. The federal government accepts up to 20 percent of
eligible costs to rehabilitate a building listed on the national registry. The
Cavalier Hotel is already on track to receive a 25 percent tax credit from the
state.”
~Writes Stacy Parker of The
Virginian-Pilot
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