Sign Up Today!
The National Trust Community Investment Corporation (NTCIC) announced in late January the recent closing of funding for the rehabilitation of the Hoen Lithograph Building in Baltimore. When construction is complete in 2020, the 1885 Hoen building will become the Center for Neighborhood Innovation. The adaptive reuse of the 85,000-square-foot historic building will involve transforming the building into a community-serving resource for workforce development, education and entrepreneurship. Financing for the $28.3 million revitalization included a variety of state and local grants, more than $4.4 million in federal historic tax credits (HTCs) and $24.3 million in new markets tax credits, $10 million of which was provided by NTCIC.
Virginia Gov. Ralph Northam signed legislation Feb. 15 to reinstate a $5 million annual taxpayer cap on the state historic tax credit (HTC), effective July 1. H.B. 2705 passed the House by a 94-2 vote and the Senate by a 25-15 margin. A $5 million cap was in effect for 2017 and 2018, but expired Jan. 1. The bill is available at www.historictaxcredits.com.
- 1 of 5
- next ›