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Historic Tax Credits News Briefs - December 2011

The Preservation League of New York State awarded grants to help two Buffalo, N.Y.-based organizations complete state and federal National Register of Historic Places nominations. Under its Preserve New York Grant Program, the organization announced a $4,000 grant to a team of local officials, stakeholders and volunteers toward the cost of creating the Hamlin Park Historic District on the city's east side; Preservation Buffalo Niagara received $7,500 toward the establishment of the Richmond Ashland Historic District on Buffalo's west side. With 1,600 properties, the Richmond Ashland Historic District is expected to be the largest historic district in Western New York when it is listed. Buffalo property owners in those areas will be eligible for the state's Rehabilitation Tax Credit for Homeowners after the historic districts are established.

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Community Housing of Maine opened Maine Hall, a 28-unit affordable senior community in Bangor, after completing a $6 million renovation on the 1830s historic dormitory. The building was formerly part of the Bangor Theological Seminary. Financing sources included federal and state historic tax credits (HTCs), low-income housing tax credits (LIHTCs) and Section 1602 LIHTC exchange funds.

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Yule Development Company's rehabilitation of Abbot Mills in Westford, Mass. received a $300,000 state HTC award. Yule will redevelop the historic mill into 110 rental apartments; the mill is the centerpiece of the Forge Village Historic District. The developer intends to restore the mid-19th century mill's structural elements and skylights, maintaining the original ceiling heights. Each residential unit will feature air conditioning, laundry machines and soundproofing, and 15 percent of the total units will be set aside for affordable housing. In addition to the state HTCs, Abbot Mills is also eligible for a federal HTC allocation.

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MacRostie Historic Advisors launched a new blog in October about federal and state HTCs. Titled "Credit Worthy," the blog is designed to provide a discussion forum for HTC-related news and issues, and present information on all aspects of the HTC industry including updates on federal lobbying efforts and changes to National Park Service (NPS) guidance. MacRostie said it developed the "Credit Worthy" blog in conjunction with the firm's new web site, at www.macrostiehistoric.com. Read the blog at www.creditworthyblog.com.

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On October 31, the National Trust for Historic Preservation, as part of a coalition of not-for-profits called America's Voice for Conservation, Recreation and Preservation released a report that demonstrates the economic benefits of historic preservation and natural resource conservation. The report is entitled "Economics Associated with Outdoor Recreation, Natural Resources Conservation and Historic Preservation in the United States." Stephanie Meeks, president of the National Trust for Historic Preservation, joined Theodore Roosevelt IV and counterparts from the Wilderness Society, Ducks Unlimited and The Nature Conservancy to release a written statement that says the report shows the remarkable impact of the federal HTC as an example of how historic preservation has proved its value.

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The National Park Service's (NPS's) Technical Preservation Services (TPS) division announced the launch of an expanded and redesigned website. The new site features the Secretary of the Interior's Standards and Guidelines; information about the historic preservation tax incentives; TPS publications, including the Preservation Briefs and Preservation Tech Notes; guidance on meeting the Standards in rehabilitation projects; information on the Historic Surplus Property Program and the Historic Preservation Internship Training Program; online training; and more. TPS also says the new site features expanded information on sustainability and historic preservation, such as the recently-published Secretary of the Interior's Standards for Rehabilitation & Illustrated Guidelines on Sustainability for Rehabilitating Historic Buildings. The new web site can be found at www.nps.gov/tps.

Journal Category:

Historic Tax Credits

Authors:

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