Potter Block Rehabilitation Reaches Fundraising Milestones

Potter Block Rehabilitation Reaches Fundraising Milestones

August 8, 2022

Plans to rehabilitate the historic Potter Block in Red Cloud into a charming boutique hotel and event space have reached significant fundraising milestones in recent weeks. News of a $2.3 million Shovel-Ready Capital Recovery & Investment Act grant from the Nebraska Department of Economic Development and an allocation of $1,000,000 in Nebraska Historic Tax Credits from History Nebraska has made it feasible to move ahead with the next phase of construction. Additionally, an allocation of $20,000 in Community Development Assistant Act (CDAA) tax credits will enable the Department of Economic Development to distribute a 40% state tax credit to businesses, corporations, insurance firms, financial institutions, and individuals that make eligible cash contributions to the project.

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