Real estate
Church Construction and the Americans with Disabilities Act
Choosing a Lighting Design for Your Church
Steel Building Design
Future of Dubai Real Estate According to Fitch Rating
Creating a 3D Model for Your Church Design
The Perfect Working Environment
The Future of Steel Buildings in Commercial Construction
Steel Buildings: Get the Best Structures Erected at Affordable Rates
Planning to Build a Church? How to Get Started
The Value of Good Building Plans for Your Church: Developing a Master Plan
Church Architectural Plans: What to Expect in Good Drawings
7 Of The Duties Found For A Quantity Surveyor
Planning Your Building Project Budget: Tricky Costs
States Beginning to Release Updated Development Plans
Points To Consider In A Building Design For Commercial Purpose
Function Meets Design Using Iron Bollards As Architectural Elements
How a Contractor Can Help You Pick the Right Space for Your Next Office
Benefits of Historic Tax Credits
Getting What You Pay for When Hiring a Church Builder
Should All Warehouses Have Composite Lightweight Roofs?
Making Housing Affordable For Military Families
Building Capacity With Technical Assistance Grants
Adding Convenience Feature to the Buildings With Access Audit
Finding Creative Solutions to Redevelopment Challenges
  Benefits of Historic Tax Credits
In March of last year, Rutgers University released a first-of-its-kind report about the economic impact of Historic Rehabilitation Tax Credits (HTC). The report assessed HTC impact on job creation, economic growth, and generated taxes. Rutgers recently updated the report to include Fiscal Years 2009 and 2010 and re-released the results.

Historic Rehabilitation Tax Credits were first made available in 1976. The program is administered through the National Park Service, in partnership with State Historic Preservation Offices and the Internal Revenue Service. Under the program, a 20 percent tax credit can be used to help fund the restoration of any building deemed "historic." This includes houses, schools, churches, hotels, offices, and retail structures. Though the program is not managed by the U.S. Department of Housing and Urban Development (HUD), HUD officials encourage developers to use the tax credit as a means of funding affordable housing projects.

In order to qualify for a historic tax credit, a portion of the project must include at least one building that is part of a federally recognized historic district or is listed in the National Register of Historic Places. Exceptions are sometimes made for structures deemed "historic" by local preservation societies. In addition, rehabilitation plans must preserve the "historic character" of the building. The Secretary of the Interior has developed ten "Standards for Rehabilitation", all of which must be met in order for the 20 percent tax credit to be received.

When determining whether a project qualifies for HTC, the structural integrity of the building(s) in question must be carefully considered. It's not enough for a building to be designated "historic" or be located in a historic district. It won't qualify for the HTC program if its foundation and internal structure are too dilapidated to support rehabilitation. A project that calls for the demolition and re-creation of a historic building is not eligible for the program.

During Fiscal Years 2009 and 2010 a total of $8.8 billion was allocated for Historic Tax Credit-related expenditures. That investment resulted in the creation of over 145,000 jobs. In addition, HTC investments generated $6.2 billion in income and an $8.4 billion bump in the nation's GDP. It also generated billions of dollars in tax revenue.

Over the course of the HTC program, it has generated over 2 million jobs and generated over $76 billion in income for various business sectors including construction, retail trade, and manufacturing.

The Rutgers study provides important statistics that developers and affordable housing advocates can use to show the benefits of using Historic Tax Credits for low-income housing projects. The information is especially helpful in economic climates like the one we're currently in, when government officials are regularly looking for job-creating programs.

Pretty In Plastic
Chief Minister Consistent on Development of Lahore's Infrastructure
Reroofing: Six Signs Your Commercial Building Needs a New Roof
Funding Rural Housing and Economic Development
Selecting and Purchasing a Site for Your New Church
Ways to Improve Project Management Efficiency
Qualified Action Plans
Fixing Our Public Housing
Will Everything Be Repaired?
Exploring The Cost of Affordable Housing
Extreme Green Rehabilitation
California's Redevelopment Agencies
Adjusting Geographic Apportionments
Projects in DHA Islamabad Expected to Help in Boosting Pakistan Properties
The Positive Effect of Project Scheduling Principle on the Environment
Specifications and Allowances Included in Your Church Design
Why You Should Consider Steel As a Building Material
Steel Buildings: Three Basic Types
Three Approaches to Constructing a Steel Building
The Cost-Effectiveness of Metal Buildings
Choosing the Right Hydraulic Jack for Construction Work
How Scaffolding Poles Assist in Construction Projects
Flexible Construction Platforms
A Guide to Construction Essentials: Gantry
Essential Scaffolding Equipment System
How Loading Dock Components Should Be Used
The Many Uses of Building Support Materials
Advantages of Platforms in Construction Sites
No New Construction Jobs Unless They Are Union?
How to Save Money and Time Maintaining Your Commercial Metal Roof System
Church Design Tidbits: Balconies and Landscaping
Gotthard Base Tunnel Sees Daylight
Panama Canal Expansion
Brazil World Cup and Olympics
Subsidies Can Bring Dubai Construction Industry Back on Its Way!
Abu Dhabi Rental Market Equates to Dubai High End Properties
Bollards Affordably Accent Landscapes While Doubling As Security Assets
DHA Lahore Is Involved in Various Breakthrough Projects
Why Properties in Major Cities of Pakistan Are Priced So High?
Expanding Upon the Opportunities That Are Available With Tradies Insurance
How Trade Insurance Can Be Adjusted To Specific Fields
Five Mistakes to Avoid When Picking New Floors for the Office
New Reality for Housing Agencies
What to Look For in a Commercial Construction Contractor
Getting the Best Floor Coating for Your Concrete Surfaces
New Jersey's Affordable Housing Council Abolished
Why The Increase in Construction Lending and What Are The Pros and Cons?
Part J BCA 2011: Summary of Changes
Report Shows Benefits of LIHTC
More Communities Reconsidering Affordable Housing Requirements
The Texas Bootstrap Loan Program
Some Affordable Housing Policies Are Working