Historic Rehabilitation Tax Credits 101

Thursday, June 21, 2012
10:00 AM to 12 PM PDT (1:00 PM to 3 PM EDT)

Attendee Feedback

"Very well done. A nice overview."
- Anonymous

"Very informative!"
- Anonymous



Wayne Michael, CPA
Director of Education and Business Development
Novogradac & Company LLP

Color commentary/analysis:

Tom Boccia, CPA
Partner – Atlanta Office
Novogradac & Company LLP


Webinar Description

This webinar presents a basic overview of the historic rehabilitation tax credit (HTC) and the unique aspects of HTC deal structuring.

View a Short Excerpt from the Presentation


  • Overview of historic rehabilitation tax credits (HTCs)
  • Those eligible to use HTCs
  • Certified historic structures
  • Qualified rehabilitation buildings (QRBs)
  • Two tiers of HTCs
    • 20% credits
    • 10% credits
  • Certified rehabilitation
  • Substantial rehabilitation
    • 24-month measuring period
    • 60-month election for phased rehabilitation
  • Qualified rehabilitation expenditures (QREs)
    • Enlargements vs. additions
    • Development fees
    • Placed-in-service considerations
  • Compliance and credit recapture
  • Basic deal structuring
  • Historic preservation certification

Target Audience

This webinar is for anyone who is new to the HTC arena or for those who've worked in the industry for a while and want a refresher. Real estate developers, investors, local governmental officials, attorneys and consultants are encouraged to attend.

Continuing Professional Education

  • Objective: To understand how the HTC program works
  • Level: Basic
  • Prerequisites: None.
  • Advance preparation required: None
  • Category: Specialized industry knowledge
  • Credit hours: 2

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits for this course are based on a 50-minute hour group-internet based instructional method.

Note: Multiple paid registrants within an organization may choose to watch the webinar on one screen. In situations where small groups view a webinar, in order for multiple members of the group to claim CPE credit it is not necessary for the individuals in the group to respond to polling questions individually. The person logged into the program may respond to the polling on behalf of the group; however, the monitoring of active participation of the individuals in the small group will be documented and verified by the small group administrator.

If you are watching the webinar in a group and wish to be eligible to claim CPE credit for multiple members of the group, please print and fill out the Small Group Sign-in Sheet and submit it to kirsten.yamada@novoco.com.

Note also that although recordings of most webinars are available for purchase, unless specifically stated, CPE is NOT available for webinar recordings.

About the Instructors

Thomas Boccia is a partner in the Cleveland, Ohio office of Novogradac & Company LLP.  Mr. Boccia has for more than 25 years provided audit and tax services to the real estate industry, with an emphasis in commercial and residential development projects. He has extensive experience with the historic rehabilitation tax credit (HTC), tax-exempt bond financed transactions, the low-income housing tax credit, and the auditing requirements of the U.S. Department of Housing and Urban Development (HUD). He also has experience working with complex financing for community development real estate projects, including using new markets tax credits (NMTC), historic and rehabilitation tax credits, public/private partnerships, and other federal, state and local tax credits and incentives, and has also prepared numerous financial forecasts for HTC and NMTC deals. Mr. Boccia serves as the technical editor for the firm’s Historic Rehabilitation Handbook and for the historic tax credit content of the monthly Novogradac Journal of Tax Credits. Prior to joining the firm, he was a partner in a firm that provided audit and tax services to the real estate industry, which  included working with clients involved in real estate partnerships, limited liability companies and joint ventures for residential, retail and hospitality projects. Mr. Boccia received a bachelor’s degree in business administration with an emphasis in accounting from Bowling Green State University. He is licensed in Ohio as a certified public accountant.

Wayne Michael is the director of education and business development for Novogradac & Company LLP. He has been teaching tax credit classes and workshops since 2006, simplifying the subject matter for audiences of varying levels of experience. Mr. Michael graduated from Brigham Young University with a bachelor's degree in accounting and is licensed as a certified public accountant in California.

System Requirements

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Webinar Cancellations & Refunds

If you are unable to attend a webinar and would like a refund on your registration fees, you must submit a cancellation in writing at least 3 days prior to the event. Please submit cancellations to events@novoco.com. We regret that we cannot issue a refund to those who cancel after the log-in information has been distributed.

In the event of a major technological problem that prevents or interrupts our transmission of the webinar broadcast, such as a power outage at our broadcast site, we will either re-broadcast the webinar or issue registrants an event credit. Credits may be applied toward any Novogradac & Company LLP event and are valid for one year from the credit’s date of issuance.

Terms and Conditions

Except as explicitly stated in the program materials (if applicable), the webinar will not qualify attendees for any type of continuing education credit or certification issued by any organization.

As a condition of viewing the webinar, you must agree to the following terms and conditions (the “Terms”).  If you do not agree to the Terms, do not purchase this webinar.

Novogradac & Company LLP webinars are presented as general learning opportunities and are not a substitute for professional advice. You agree not to make business or financial decisions based solely on the webinar materials and you agree that we are not responsible for business or tax decisions made by webinar attendees based on the information provided by the instructors during the webinar. Each tax credit property has specific issues and circumstances associated with that property. Webinar attendees are strongly encouraged to consult their legal and/or tax advisors for advice specific to the attendee’s specific circumstances.


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The recording of the webinar has expired and is no longer available for viewing.


Historic Rehabilitation Handbook,
2014 Edition