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Protect the Historic Tax Credit! New video on how the HTC has benefited Baltimore

Today, you can do something small to help a program that has a big impact on our historic places.

Join our effort to protect and enhance the federal historic tax credit, a program that brings dollars to our historic communities — saving the stories they tell, creating jobs and turning places we live into places we love.

But don’t just take our word for it. Watch this short video on how the historic tax credit enabled the conversion of a vacant tin can factory into affordable housing and collaborative space for educators—saving a vital piece of Baltimore’s historic fabric in the process.

The federal historic tax credit is the type of investment our country needs. If you agree, please sign our pledge to join us in protecting the historic tax credit from tax reform on Capitol Hill. We’ll keep you informed of how together we can keep this credit in communities where it preserves our heritage and grows our economy. Thank you!

Executive Summary of the Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012 now available

The Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012 analyzes the economic impact of the HTC program since its inception and concludes that it is a highly efficient job creator—accounting for the creation of over 2.3 million new jobs over the life of the program; 57,783 of which were generated in FY 2012. It also underscores the need for additional legislation to strengthen the federal credits, making them more widely available for smaller projects and also encouraging their use for green and sustainable rehab projects. Talking points/handout document can be accessed here.

The study was conducted by researchers at the Rutgers University Edward J. Bloustein School of Planning and Public Policy, in collaboration with the National Park Service.

Access the full Executive Summary of the Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012 below:

Click on cover to access Executive Summary

10/2012 “Historic Tax Credit Industry Adjusts to Boardwalk Hall Decision” — article by John Leith-Tetrault in Novogradac Journal of Tax Credits

Read the latest on HBH: “Historic Tax Credit Industry Adjusts to Boardwalk Hall Decision” — article by John Leith-Tetrault in Novogradac & Co.’s Journal of Tax Credits

Click cover to view full article

“NSO Bell Building — Finally A Reality” Special Two-Part Report by Rochelle Lento in Novogradac Journal of Tax Credits

The iconic NSO Bell Building in Detroit, NTCIC’s latest HTC/LIHTC investment, is featured in a two-part report in Novogradac’s Journal of Tax Credits by Rochelle Lento, a senior counsel in Dykema’s Real Estate Practice Group in Detroit who specializes in affordable housing development. The series provides a behind-the-scenes look at how LIHTCs and HTCs helped secure $36 million in first-round financing to transform the former Michigan Bell Yellow Pages Building into mixed-used space that will provide 155 units of permanent supportive housing for homeless individuals and office and administrative support services space for 200 Neighborhood Services Organization (NSO) workers. Click here to read part one of the report. Click here to read part two of the report.

Photo: Courtesy of Neighborhood Service Organization

The Novogradac Journal of Tax Credits is monthly publication provides news, analysis and commentary for professionals in the affordable housing, renewable energy and historic rehabilitation tax credit industries.

09/2012 “Release of Statistics Provides Rare Glimpse of Historic Tax Credit’s Impact” — article by John Leith-Tetrault in Novogradac & Co.’s Journal of Tax Credits

“Release of Statistics Provides Rare Glimpse of Historic Tax Credit’s Impact” — article by John Leith-Tetrault in Novogradac & Co.’s Journal of Tax Credits

Click cover to view full article

08/2012 “Oral Arguments in 3rd Circuit Boardwalk Case Rattle HTC Industry” — article by John Leith-Tetrault in Novogradac & Co.’s Journal of Tax Credits

“Oral Arguments in 3rd Circuit Boardwalk Case Rattle HTC Industry” — article by John Leith-Tetrault in Novogradac & Co.’s Journal of Tax Credits

Click cover to view full article

Polling Results on Federal Historic Tax Credit Program Indicate Broad Support

Americans Support Historic Tax Credits!

We’re delighted to share the results of a recent bi-partisan poll of 800 registered voters that we commissioned to inform our work on the historic tax credit. Here are some quick facts:

62 percent supported continuing the historic tax credit as Congress makes decisions about the budget (28 percent opposed)
75 percent think that the credit has a positive impact on revitalizing older neighborhoods and downtown areas
74 percent believe that the credit has a positive impact on preserving our country’s heritage
66 percent feel the credit has a positive impact on creating jobs
A strong majority of 60 percent support the credit, even in light of the federal budget crisis, versus 36 percent that oppose it