Historic Tax Credit Historic Tax Credit ProgramProgram

Tax Credits & Historic PreservationTax Credits & Historic Preservation

How can historic tax credits benefit your community?How can historic tax credits benefit your community? How does the tax credit program work?How does the tax credit program work? Who is eligible?Who is eligible? Demonstration through case studyDemonstration through case study

Tax Credit BenefitsTax Credit Benefits

Encourages the rehabilitation of historic Encourages the rehabilitation of historic buildings in your town.buildings in your town.

Historic tax credits may significantly help Historic tax credits may significantly help with the revitalization of your Main Street with the revitalization of your Main Street Commercial District.Commercial District.

Gives your community a sense of place. Gives your community a sense of place.

How the program worksHow the program works

A tax credit lowers the amount of tax owedA tax credit lowers the amount of tax owed The federal tax credit incentives program The federal tax credit incentives program

offers a 20% rehabilitation tax credit equal offers a 20% rehabilitation tax credit equal to 20% of the amount spent in a certified to 20% of the amount spent in a certified rehab of a certified historic structurerehab of a certified historic structure

ANDANDA 10% rehab tax credit equal to 10% of the A 10% rehab tax credit equal to 10% of the

amount spent to rehabilitate a non-historic amount spent to rehabilitate a non-historic building built before 1936building built before 1936

Who is eligible?Who is eligible?

Owners of certified or non-historic buildings Owners of certified or non-historic buildings that are income producingthat are income producing

A certified structure is a building that is listed in A certified structure is a building that is listed in the National Register of Historic Places the National Register of Historic Places (individually or contributing property in historic (individually or contributing property in historic district).district).

A non-historic building is a structure that is not A non-historic building is a structure that is not National Register eligible and built before 1936.National Register eligible and built before 1936.

Lindsay Street HallLindsay Street Hall(First Congregational Church)(First Congregational Church)

Lindsay Street HallLindsay Street Hall

Post Restoration Work (Exterior)Post Restoration Work (Exterior)

Post Restoration (Interior)Post Restoration (Interior)

Post Restoration (interior)Post Restoration (interior)

Project Cost/Tax CreditsProject Cost/Tax Credits

Project cost for restoration:Project cost for restoration: Tax Credits Received:Tax Credits Received: Lindsay Street Hall hosts special events: Lindsay Street Hall hosts special events:

rehearsal dinners, weddings, business events, rehearsal dinners, weddings, business events, fundraising events, music eventsfundraising events, music events