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Old Slater Mill, a historic district in Pawtucket, Rhode Island, the first property listed in the National Register, on November 13, 1966 [1] George B. Hartzog Jr., director of the National Park Service from 1964 to 1972 [2] U.S. Secretary of the Interior Cecil Andrus, who removed the National Register from the jurisdiction of the National Park Service in 1978
The Historic Tax Credit (HTC) is the federal tax credit program that incentivizes the rehabilitation of historic buildings. The HTC, which has rehabilitated more than 38,700 buildings and leveraged about $106 billion in private investment nationwide, is in danger of being eliminated in current budget-balancing discussions in Congress. [34]
Clockwise from bottom left: a site, a building, a structure and an object. All are examples of National Register of Historic Places property types. The U.S. National Register of Historic Places (NRHP) classifies its listings by various types of properties. Listed properties generally fall into one of five categories, though there are special ...
The Mills Act is recognized by the state of California as the "single most important economic development incentive program in California for the restoration and preservation of qualified historic buildings by private property owners. [2] The Mills Act has been credited with saving thousands of historic buildings from destruction in California. [3]
There are four local historic districts in the Twin Cities. Here are some challenges and benefits when preserving historical designations.
A 20% credit is available for the rehabilitation of historical buildings and a 10% credit is available for non-historic buildings, which were first placed in service before 1936. Benefits are derived from tax credits in the year the property is placed in service, cash flow over 6 years and repurchase options in year six.
Combining state and/or federal historic tax credits with the federal New Markets Tax Credit is also a possibility if the project is located in a low-income census tract. Syndicating historic tax credits can be a significant advantage for developers, especially those who do not have sufficient tax liability to claim the tax credits themselves ...
The National Register of Historic Places (NRHP) is a list of districts, sites, buildings, structures, and objects in the United States that are designated for historic preservation. It is maintained by the National Park Service , a sub-agency of the federal Department of the Interior , and recognizes over 98,000 properties for their historic ...