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Legislation & Public Policy Issues in Preservation     


Legislation & Public Policy Issues in Preservation
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Rehab Tax Credit Amendments Bill Receives Endorsement from New York Governor
Historic Preservation Blog from PreservationDirectory.com - New York Governor Elliot Spitzer, Community Restoration and Revitalization Act of 2007, main street revitalization, neighborhood revitalization, National Trust for Historic Preservation
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

New York Governor Elliot Spitzer (D) endorsed the “Community Restoration and Revitalization Act of 2007”(HR 1043/S. 584) this week and his office sent a letter to House Ways and Means chairman, Rep. Charles Rangel (D-NY), asking that it be part of the chairman’s affordable housing tax bill, which is being drafted now. The affordable housing tax measure, which could include provisions of HR 1043, is expected to be part of a larger tax extenders bill of expiring tax credits that will be introduced in the House before the end of the month.

In the Governor’s letter to chairman Rangel, Spitzer’s spokesman stated “H.R. 1043 will enhance the program [the federal rehabilitation tax credit] in ways that will make it a much stronger tool to promote community revitalization, smaller “Main Street” projects and affordable housing in existing structures. Although we have had success in New York with using the program for large redevelopment projects, in its current form it is not easily adaptable for neighborhood revitalization and cannot be used for the development of housing in older, but non-historic buildings.”

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: New York Governor Elliot Spitzer, Community Restoration and Revitalization Act of 2007, main street revitalization, neighborhood revitalization, National Trust for Historic Preservation

Posted: October 23, 2007
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Unless noted, the thoughts and opinions expressed in the article are solely that of the
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