CF Brewery Earns Tax Credits for Waterloo Project

WATERLOO, Iowa (AP) — A Cedar Falls brewery's planned renovation of the former downtown Hostess Wonder Bread building is set to receive $1.24 million in historic preservation tax credits.

The Iowa Department of Cultural Affairs announced Thursday that Single Speed Brewing would receive the tax credits for the project.

The brewery is planning a $6 million renovation of the former Campbell Baking Co. building to house a production brewery, beer garden, restaurant and coffee shop.

Single Speed founder Dave Morgan says the approval and a pending report on eligibility from the National Park Service were vital to starting construction.

The tax credits can be sold to investors to assist with the cost of the project. They require that the work meets historic design standards.