With Georgia’s historic tax credit program under threat, Historic Macon added a novel entry to this year’s Macon’s Fading Five list: downtown’s vacant, historic commercial buildings.

It’s a move intended to underscore the uncertainty facing owners and would-be developers of historic structures in what has been a rapidly revitalizing city.

During the past decade, a combination of local, state and federal incentives spurred the redevelopment of warehouses, factories and offices into loft apartments, storefronts and restaurants in Macon. Now the Georgia General Assembly must act to save the state historic tax credit for commercial buildings, including multifamily housing.

“Georgia’s state historic tax credit has been instrumental in the restoration and reuse of buildings large and small,” said Nathan Lott, Historic Macon’s executive director. “Lawmakers must act to raise the cap or risk losing investment dollars to other states and stalling progress for Macon and other communities.” 

Rotating off the Fading Five list this year is the First National Bank and Trust Building on Houston Avenue.

Among the downtown buildings that could benefit from a restoration of historic tax credits are: the former Macon Rescue Mission (“Jesus Cares”) building on Martin Luther King Jr. Boulevard at Poplar Street; the former Macon Health Club building at First and Cherry streets; and the former Masonic Lodge building on First Street.

To date, Historic Macon has listed 21 properties on the Fading Five list. With Thursday’s announcement, 15 of them have been saved and protected, while just one property has been lost.

For years, the state’s Rehabilitation Tax Credit program has been the driving force behind restoration of Georgia’s historic buildings. It encourages the rehabilitation and preservation of historic properties, allowing property owners to receive a percentage of their rehab costs back as a tax credit, often with certain conditions.

But the state has run out of available credits nearly four years before the program is up for renewal in 2029.

Historic Macon, NewTown Macon, the Georgia Trust for Historic Preservation and other preservation groups are asking lawmakers to extend the program during next year’s General Assembly session, which starts in January.

The historic tax credit program has spurred more than $800 million in private investment into Georgia’s communities since 2020, from downtown commercial buildings to converting former schools and mills into housing, according to the Georgia Trust.

In Georgia, the fixed annual cap for the credits is $30 million, and that total has limited the program’s ability to meet demand and sustain economic development. The Georgia Trust is pushing for an annual cap of $60 million through 2029.

A 2019 study of the tax credit program by Georgia Tech found that historic tax credits return nearly $1.50 to state and local governments for every $1 awarded within five years.

In 2015, the Historic Macon Foundation began calling attention to endangered, significant sites across Macon-Bibb County through its Fading Five program. In 2014, the community lost two historic structures, Tremont Temple Baptist Church and the former Charles H. Douglass home, to commercial development, prompting the initiative.

Historic Macon sifts through nominations each year to craft its Fading Five list. 2025 marks the 11th year of the program, which targets historic sites across Macon-Bibb County that could be lost due to neglect or  insensitive development.

A new list is announced annually. A property remains on the list until the Fading Five jury, composed of  Historic Macon members and community representatives, determines that it has been appropriately preserved or is no longer under threat.