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Historic Tax Credits News Briefs - November 2011

The National Housing & Rehabilitation Association (NH&RA) announced 18 finalists in seven categories for this year's Timothy J. Anderson (Timmy) Awards. The awards recognize outstanding historic building rehabilitations that used state or federal historic tax credits (HTCs). The finalists are Philadelphia Main Post Office in Philadelphia, Pa. and Leavenworth Building 19 in Leavenworth, Kan. for Best Commercial/Retail/Non-Real Estate Project; Oliver School Lofts in Winchester, Ky. for Best Historic Rehab Utilizing Low-Income Housing Tax Credits (LIHTCs) (Small); Hayes at Railroad Square in Haverhill, Mass., Grand Boulevard Lofts in Kansas City, Mo., Ghost Ranch in Tucson, Ariz., Cotton Mill Village in Columbia, S.C. and Appleton Mills Phase I in Lowell, Mass. for Best Historic Rehab Utilizing LIHTCs (Large); Connell Building in Scranton, Pa. and Crown Square in St. Louis, Mo. for Best Historic Rehab Utilizing New Markets Tax Credits; Atlas Building in Chelsea, Mass., Maritime Building in New Orleans, La. and Metro 67 in Dallas, Texas for Best Market-Rate or Mixed-Income Residential; Mercy Corp.'s Global in Portland, Ore. for Best Historic Rehab Involving New Construction; and Beaver Dam Lake Historic Lofts in Beaver Dam, Wis., Casa de Maryland in Hyattsville, Md. and New Manchester Flats in Richmond, Va. for Most Innovative Adaptive Reuse. Winners in each category will be presented with plaques and all finalists will be honored at NH&RA's Fall Developer's Forum on November 15.

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Historic preservation and solar energy communities can work together to meet the country's growing renewable energy needs while preserving its heritage, according to a National Renewable Energy Laboratory (NREL) report. "Implementing Solar PV Projects on Historic Buildings and in Historic Districts" examines both preservation and solar energy and discusses the ways in which the two disciplines can collaborate. Addressing conflicts over installing solar panels on historic properties and providing guidance on solutions and best practices is an important step toward eliminating implementation barriers, the report says. The study also highlights the benefits of partnership between the two fields, which the report says have the shared objective of resource conservation. A copy of the report is available at www.historictaxcredits.com.

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The Michigan Historic Preservation Network (MHPN) announced the addition of three new members to its board of directors. Robin Adair of Adair Restoration in Ann Arbor has helped restore a number of historic buildings in Michigan and Massachusetts. He has also served as MHPN's preservation carpentry instructor for its Building Arts Lab. Christine Bowman, executive director of the Coldwater Downtown Development Authority, has experience in the retail, finance, not-for-profit and government sectors. Scott Lowell heads Pied A Terre Inc., a real estate firm that focuses on historic landmark restoration in midtown Detroit and recently completed the Blackstone Hotel's rehabilitation.

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Massachusetts' Executive Office of Energy and Environmental Affairs issued final rules in September that implement the Conservation Land Tax Credit program. Donated land must be appraised at $100,000 or more and meet the requirements for perpetual natural resource protection to qualify for a state income tax credit of half of the property's fair market value, up to $50,000. Funding for the program is capped at $2 million. In this first year of the program, only land that has already been donated will be eligible and applications will be reviewed on a first-come, first-served basis. Credits can be applied to the 2011 tax year.

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Avesta Housing broke ground on an $8 million project to convert the former Park Street School in Kennebunk, Maine into senior housing, the York County Coast Star reported. Avesta plans to preserve the 2.5-story school building's original brick structure and replace a lower-quality addition to the building with a two-story wing that connects to the main building, creating 30 affordable rental units. Funding will come from low-income housing tax credits, the Tax Credit Assistance Program, federal and state HTCs, a U.S. Department of Agriculture (USDA) Rural Development 515 loan and ongoing rental assistance. The rehabilitation is expected to be complete by August 2012.

Journal Category:

Historic Tax Credits

Authors:

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