TIME Congress

America’s 11 Most Endangered Historic Places

Frank Lloyd Wright's Spring House in Tallahassee, Fla. Alan C. Spector

Since its inception 27 years ago, the National Trust for Historic Preservation's annual list of America's 11 Most Endangered Places has saved more than 250 places.

This year’s list of America’s 11 Most Endangered Historic Places spans locations from New Jersey to Hawaii and includes everything from a medical care home for veterans to a Frank Lloyd Wright creation.

The list, released annually by the National Trust for Historic Preservation, features an array of places of cultural or architectural importance that are deteriorating or are at risk of destruction. Since its inception 27 years ago, the list and the awareness it generates have helped to save more than 250 endangered places.

But this year, the list has made an addition that’s not a place – the Federal Historic Tax Credit, which has been placed on ‘watch status.’ Some members of Congress are calling for the elimination of the Federal Historic Tax Credit as part of recent tax reform efforts, estimating that the provision could increase federal revenues by $10.5 billion between 2014 and 2023. The National Trust reports that the tax credit has created more than 2.4 million local jobs, leveraged nearly $109 billion in private investment for communities, and preserved more than 39,600 buildings, since it was signed into law in 1986.

Here are the National Trust for Historic Preservation’s selections for 2014.

 

1. Battle Mountain Sanitarium –Hot Springs, S.D.

Battle Mountain Sanitarium VA Medical Center Campus, Hot Springs, SD, Buddenborg 6.110104_mr
Buddenborg

For over a century, the sanitarium offered medical care to the region’s veterans. It has been claimed as one of the few National Historic Landmarks owned by the Department of Veterans Affairs, but they are currently moving forward with plans to abandon the building.

 

 

2. Bay Harbor’s East Island – Miami-Dade County, Fla.

BayHarborIsland-1_crMiami-DadeCountyOfficeofHistoricPreservation_mr
Dade County Office of Historic Preservation

Development proposals have put a collection of buildings constructed in the unique Modern Miami Architectural style at risk for demolition.

 

 

3. Chattanooga State Office Building – Chattanooga, Tenn.

ChattanoogaStateOffice5_mr
Chattanooga State Office

A change in ownership put this Chattanooga downtown landmark under the threat of demolition.

 

 

4. Frank Lloyd Wright’s Spring House – Tallahassee, Fla.

FLW_SpringHouse_86a_crAlanC.Spector_mr
Alan C. Spector

Constructed in 1954, the Spring House is the only built private Frank Lloyd residence in Florida and one of the few of the architect’s houses that remain. However, weather and time have led to severe deterioration.

 

 

5. Historic Wintersburg – Huntington Beach, Calif.

HistoricWintersburg_rear of 1910 Mission and 1910 manse_crChrisJepsen_OrangeCountyArchives_mr
Chris Jepsen, Orange County Archives

This property that part of the story of Japanese American immigrants in Southern California and is currently threatened with demolition.

 

 

6. Mokuaikaua Church – Kailua Village, Kona, Hawaii

MokuaikauaChurch_3469589800_0208e7d390_SteveConger_mr
Steve Conger

Earthquake damage and the ravages of time have deteriorated Hawaii’s first Christian Church, built in 1837.

 

 

7. Music Hall – Cincinnati, Ohio

CincinnatiMusicHall_SpringerAuditorium_crCincinnatiSymphonyOrchestra_mr
Cincinnati Symphony Orchestra

Since its construction in 1878, the Music Hall has played a key role in Cincinnati culture. Despite its National Historic Landmark status, the music hall has suffered significant deterioration and is in need of repair.

 

 

8. The Palisades – Englewood Cliffs, N.J.

Palisades_3021510249_crPaulWRomaine_mr
Paul W. Romaine

Despite the designation of the cliffs along the Hudson River as a National Historic Landmark, the LG Corporation plans to build an office tower in the scenic landscape.

 

 

9. Palladium Building – St. Louis, Mo.

ThePalladium_6516788587_c400d44c65_crMichael Allen_mr
Michael Allen

The Palladium Building was once home of a 1940s nightclub that contributed to the development of African American music. However, lack of protection from local and national historic designations has left the building’s future uncertain.

 

 

10. Shockoe Bottom – Richmond, Va.

ShockoeBottom_7736982152_a41e5437fa_crTVNEWSBADGE_mr
TV News Badge

The potential development of a minor league baseball stadium threatens the home of Solomon Northrup’s jail in 12 Years a Slave. Shockoe Bottom was a center of the American slave trade and still holds many underground artifacts.

 

 

11. Union Terminal – Cincinnati, Ohio

UnionTerminal_1_crCincinnatiMuseumCenter_mr
Cincinnati Museum Center

The Cincinnati icon, built in the Art Deco style, is currently in need of extensive repairs to salvage it from its deteriorated state.

 

 

 

TIME Tax Policy

U.S. Corporations Parking More Cash Abroad To Avoid Tax

Multinational companies have $1.95 trillion outside the United States, according to a Bloomberg analysis. Among the worst offenders are tech companies Microsoft, Apple and IBM.

U.S.-based companies are increasingly parking their earnings in offshore accounts, with some of the largest companies adding $206 billion to their accounts in low-tax countries to avoid forking over taxes to the IRS.

Multinational companies have $1.95 trillion outside the United States, according to a Bloomberg analysis of 307 corporations, up 11.8 percent from last year. Microsoft, Apple and IBM were among the biggest offenders, adding $37.5 billion to cash piles held outside the United States.

Taking advantage of loopholes in the tax code allows companies to make it look as though they earned profits offshore, preventing the federal government—which has run a deficit for over a decade—from taking a share of the money pot. Estimates on the amount of annual revenue the U.S. loses range from $30 billion to $90 billion.

[Bloomberg]

TIME Taxes

Obama Cracks Down on Tax Dodgers

U.S. President Barack Obama at a press conference at the Fairmont Hotel in San Jose, Calif., on June 7, 2013.
JEWEL SAMAD / AFP / Getty Images

The federal government is prosecuting more Americans for tax crimes under President Barack Obama than it did under his predecessor George W. Bush, according to a report published Tuesday.

Using data obtained under the Freedom of Information Act, the non-partisan watchdog group Transactional Records Access Clearinghouse (TRAC) found that the Justice Department under Obama has filed an average of 1,568 criminal tax prosecutions a year, up from 1,303 a year under Bush.

Prison time for those found guilty of tax crimes is also increasing, according to the report. Those convicted now face 27-month sentences on average, up from 25-month sentences under Bush.

The increase in prosecutions — which peaked at 2,100 in 2013 — is partially due to an uptick in tax refund fraud.

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