SBD/October 20, 2011/Facilities

Red Sox In Line For Tax Credits If Fenway Lands On National Register For Historic Places

Red Sox ownership group has received $11.4M in historic tax credits so far
The Red Sox are “on deck to pick up another $40 million in tax credits -- bringing their total to $80 million -- if Fenway Park’s pending bid for a listing on the National Register of Historic Places is approved next spring,” according to Thomas Grillo of the BOSTON HERALD. Team officials “face a pair of hearings seeking local support for their federal application.” The team will “make the case for Fenway Park before the Boston Landmarks Commission on Tuesday, to be followed by an appearance before the Massachusetts Historical Commission in December.” Typically, if local boards “approve the application, the federal government gives the go-ahead.” That could happen "by next spring -- in time for" the team's centennial season. Historic Boston Exec Dir Kathy Kottaridis said, “Being listed puts you in line for historic tax credits for doing the right kind of preservation.” Red Sox Senior VP & Special Counsel David Friedman would not disclose how much team owners will seek in tax credits should Fenway Park be named to the National Register, but he did acknowledge that the team “has spent $285 million in private capital to upgrade the park, add seats and improve lighting and scoreboards.” If they win a spot on the National Register, the Red Sox owners are “in line for a 20 percent investment tax credit for the certified rehabilitation of the 99-year-old ballpark, which turns 100 next year.” Massachusetts Secretary of State William Galvin’s office said that John Henry’s ownership group “has received $11.4 million in historic tax credits so far and is hoping to score another $28.4 million for a total of $39.8 million” (BOSTON HERALD, 10/20).
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