PreservationDirectory.com
PreservationDirectory.com
 
home
preservation events & conferences
press releases & job postings
› main menu
› article guidelines
› submit an article
grants & funding sources
heritage marketing services
preservation library:
articles, regulations & policy
preservation organizations
& resources
museums & historic structures
historic real estate
preservation businesses,
products & services
historic lodging:
inns, b&b's, hotels
historic tours
preservation general resources
historic photo galleries
preservation bookstore
frequently asked questions
about us
join email list
contact us
site map


member login

Featured
Property For Sale
View more information about this historic property for sale in Ventura, California

Henry Mather Greene of Greene & Greene

Ventura, CA
PreservationDirectory.com
30 Bromley Road
Pittsford, NY 14534
Phone: (503) 308-0500

Email Us!
foo




ArchiveInABox

WeddingGownPreservationKit.com

Mad Dog Primer

University of Oregon



PreservationDirectory.com

Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
Back to Press Releases Print   Submit an Article
Senators Reintroduce the Neighborhood Homes Investment Act Aimed at Revitalizing Distressed Homes
Historic Preservation Blog from PreservationDirectory.com -
Contributed By: Preservation Action
Email The Author: mail@preservationaction.org
Website: http://www.preservationaction.org

From Preservation Action:

Last week the Neighborhood Homes Investment Act (S. 98) was reintroduced in the Senate. Led by Senators Ben Cardin (D-MD), Rob Portman (R-OH) and four other original cosponsors, this bill would create a federal tax credit to encourage revitalization of distressed homes. In urban and rural areas in many parts of the country, the cost of purchasing and renovating a home is greater than the value of the home's sale price. The bill would create a tax credit to cover the cost between building or renovating a home in these areas and the price at which they can be sold, up to 35% of the total development cost. 

The bill focuses on communities with the greatest need, by targeting communities with poverty rates that are 130% or greater than the metro or state rate; have incomes that are 80% or less that area median income; and have home values that are below the metro or state median value. The bill also requires homes using the credit to be sold to homeowners making less than 140% of the area median income. 

This bill was introduced during the last Congress and was included in the House passed infrastructure package, the Moving Forward Act, and could be targeted for inclusion in a future infrastructure package. The bill is expected to be introduced in the House soon. Preservation will continue to track this legislation, stay tuned for more.


Posted: February 5, 2021
Back to Press Releases Print   Submit an Article


Unless noted, the thoughts and opinions expressed in the article are solely that of the
author and not necessarily the opinion of the editors of PreservationDirectory.com.
   



PreservationDirectory.com | preservation events & conferences | press releases & job postings | organizations & resources
museums & historic structures | historic real estate | preservation businesses, products & services | historic lodging
historic tours | preservation general resources | historic photo galleries | preservation bookstore | preservation library
frequently asked questions | about us | join email list | heritage marketing services | contact us | site map

© Copyright 2021 - PreservationDirectory.com | website by Stolutions