Greenwood Preservation Society Working To Restore Main Street Building
With the help of community tax credits, the Greenwood Preservation Society (GWPS) is once again working to restore a Main Street building.
In 2022, the GWPS acquired the “Red Owl” building, located at 212 N. Main Street, in Eureka, and began looking into ways they could raise funds to bring the once loved business back to life. The facility was the home of the Red Owl for several years before becoming Flavors, an ice cream parlor and lastly The Big House, a bar and grill. The location has sat vacant for nearly a decade.
In recent weeks, community members have seen movement in the facility as crews have worked to remove debris and brace the interior. As of last week, crews had removed nine full roll-off dumpsters of debris from the Red Owl building and created bracing in the interior for stabilization.
The GWPS hopes to restore the building to serve as a functional part of Main Street once more. To begin, the first phase of the restoration project includes waterproofing or sealing in the building.
The project is being funded through a Community Service Tax Credit. These are awarded through a very competitive application process. With Eureka being considered a “rural” location, GWPS applied and was awarded a 70% credit. Urban areas are awarded 50%. The credits serve as a “tool” for non-profits to fundraise. Here is how it works: If you donate $1,000, you will receive $700 back as a tax credit. If you have a Kansas tax liability, you will include a state issued certificate in your tax return. Instead of paying $700 to the state, you will get a “Credit” and pay nothing. The $1,000 donation can also be used as a tax deduction on the state and federal side so the donation may create greater fiscal benefits. If a tax liability doesn’t exist, the state will refund 70% of their donation. As always, talk with your accountant/ financial advisor. At this time, the GWPS has tax credits remaining that must be sold by year-end. If you are interested, contact Colangelo and Taber, P.A. at 620-583-5547.
