Tag Archives: historic tax credits

Artists and Nonprofits Revitalize a Slice of Historic Providence

The Mercantile Block was nearly vacant when AS220—an organization dedicated to creating artist space in Providence since 1985—undertook a $16.9 million rehabilitation in 2008. With $10.4 million in historic tax credits and New Markets Tax Credits through the National Trust Community Investment Corporation, the idea was to supplement the adjacent Dreyfus Hotel building, where AS220 had restored an 1890 hotel for offices and artist space. Now, the Mercantile Block and the Washington Street corridor are thriving once again. Read more.... Read more

Alabama’s Revamped Historic Tax Credit Aims to Spur Growth in Smaller Cities Too

Alabama’s renewed Historic Tax Credit program caps the total amount of tax credits per year at $20 million, and no single project can receive more than $5 million. There are some differences in the newest version, and chief among them is a requirement that 40 percent of the tax credits awarded each year be reserved for counties with 175,000 or fewer people. (That excludes Jefferson, Mobile, Madison, Montgomery, Baldwin, Shelby and Tuscaloosa counties). Read more... Read more

HUD Webcast: Using the Historic Tax Credit for Affordable Housing

This webinar from HUD’s Office of Environment and Energy will introduce affordable housing developers, property owners, preservation advocates and others to the federal 20% Historic Tax Credit (HTC). It will provide clarity on program requirements, dispel myths about the program, share successful case studies, and answer questions live from HUD Headquarters. Find out what’s covered by the credit, what properties are eligible, how to combine the HTC with other incentives, common pitfalls to avoid, and where to look for additional... Read more

Rehabilitation Tax Credit Turning NY’s Historic Buildings into Community Assets

​Over the last four years, New York State and the federal rehabilitation tax credit program has spurred $3 billion of investment in historic commercial properties. According to Gov. Andrew Cuomo, New York State led the nation in the number of completed historic building revitalization projects using these tax credits. Read more... Read more

Historic Tax Credits Bring Jobs, People to Downtown Cleveland

​ In 2016, few places commanded the national and international spotlights as much as Cleveland – as host to the NBA championship series, the Republican National Convention and finally, the World Series. In addition to these moments, Cleveland has quietly been crafting another story to tell – the resurgence of its central business district. Much of the credit for the office-to-residential conversion in Cleveland’s central business district, goes to the strategic use of federal and state historic preservation tax credit... Read more