Thirty-seven states currently feature a state HTC program. State HTC programs serve as an excellent complement to the federal program and provide developers with the added financial benefit often necessary to rehabilitate historic buildings.
The historic tax credit (HTC) incentive has significantly evolved over the past four decades. During that time, the HTC has grown to become one of the most effective tools for historic preservation and economic revitalization.
Over the course of a nearly 40-year career in the industry, Gordon Pulsifer, president and CEO of First Resource Companies, has completed more than 100 historic tax credit (HTC) developments, and won numerous awards in both preservation and low-income housing communities.
One of the key elements in successfully rehabilitating a property and receiving federal historic tax credits (HTCs) is obtaining Part 2 and Part 3 approval from National Park Services (NPS) or state historic preservation offices (SHPO). Read some tips on how to avoid delays here.
For many residents of Baltimore’s Broadway East neighborhood, the decaying buildings of the former Eastern High Pumping Station have been a daily reminder of disinvestment within their working-class neighborhood.
Across the United States, municipalities are struggling to meet a seemingly never-ending increase in demand for affordable housing. Read more here.
The federal historic tax credit (HTC) incentive was established in 1979 and replaced a former incentive program that was in the form of an accelerated depreciation. The program as it is known now was largely the result of two subsequent acts of Congress in the 1980s. Read more here.
Heritage Consulting Group announced today that John Tess, its Founder, will retire on April 1, 2022, after 40 years of successfully leading the company. Mr. Tess, a pioneer in the Historic Tax Credit industry, built Heritage from a single office in Portland, Oregon in 1982 into one of the nation’s largest and most respected historic […]
in real estate development, there is a significant amount of work that goes into a development before a hammer is lifted. Find out more here.
Timing is everything. In real estate development, this phrase can be attributed to any number of moving parts that encompass each individual development. This saying holds even more weight for real estate development projects using historic tax credits (HTCs). Read more here.
Heritage Consulting Group, a national firm based in Portland, Oregon and Philadelphia, Pennsylvania, has opened its Midwest office in Madison, Wisconsin. Heritage is a leading advisor to owners and developers of older and historic buildings through the development process, helping them secure federal, state and local incentives. Read more here.