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Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
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State Historic Tax Credits: Opportunities for Affordable Housing and Sustainability
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: National Trust for Historic Preservation
Email The Author: forum@savingplaces.org
Website: https://cdn.savingplaces.org/2023/06/29/12/21/44/12/NTHP86_2023_AffHousing-Climate_F.pdf

The world of redevelopment and state historic tax credits is changing to help address two of our country’s most pressing challenges—creating more affordable housing and lowering carbon emissions. Access the recent report, Historic Tax Credits: Opportunities for Affordable Housing and Sustainability, from the National Trust for Historic Preservation for innovative ways state historic tax credits are not only rehabilitating important historic buildings, but also offering solutions to the affordable housing crises and a way forward in reaching our climate change and sustainability objectives. Lakisha Ann Woods, EVP/CEO of the American Institute of Architects and Peter H. Bell, CEO of the National Housing & Rehabilitation Association share why their organizations support this type of preservation incentive.

For more than 30 years,?the National Trust has supported the enactment of 37 state historic tax credits, and today, the organization continues to work with partners to increase this number. These incentives at the state level build on the successful federal program which is managed by the National Park Service and state historic preservation offices, and they attract private investment to reuse historic properties, many of which would otherwise likely be demolished.

With more than 70 percent of states adopting some form of historic tax credit incentive to support building reuse, the utility and success of this preservation policy is clear. As states look to strengthen and tailor these incentives, this report and the State Historic Tax Credit Resource Guide from the National Trust offers an overview of the tangible benefits of historic tax credit programs, the elements of top-performing credits, and a state-by-state comparative analysis of key features.

They are intended to serve historic preservation policy makers, advocates, and practitioners alike as they determine the optimal incentive for their state. Learn more at SavingPlaces.org/state-historic-tax-credits.

You can also watch a recording of the webinar last month announcing the report on the National Trust's YouTube channel. 

The National Trust for Historic Preservation gratefully acknowledges the generous support of David and Julia Uihlein who made the development of this report and online resources possible.

 


Posted: July 13, 2023
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Unless noted, the thoughts and opinions expressed in the article are solely that of the
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