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Historic Rehabilitation Tax Credits

The rehabilitation of historic buildings brings new life to old structures, repurposing them for today’s business and housing needs. Since 1976, The Federal Historic Preservation Tax Incentives Program has provided a 10 or 20 percent tax credit that can be applied to the preservation of historic properties for offices, rental housing and retail stores. And since the inception of the program, savvy investors, developers and owners have turned to CohnReznick for our knowledge and guidance on projects that leverage historic tax credits.

Our tax credit advisory professionals understand the competing interests of all parties in historic rehabilitation projects and the range of tax credit opportunities available in each state. We help developers manage the compliance process and qualify for other tax credits that can be combined with the historic tax credit, such as the New Markets Tax Credit (NMTC). Our services include:

  • Financial analysis and strategy: We prepare financial analyses to estimate tax credits and assist in obtaining financing. This includes obtaining soft money from local governments, thus reducing developer risk.

  • Transaction structuring and analysis: We can help develop transaction structures to maximize tax credits and equity proceeds, mitigate risk of tax credit recapture or reallocations, and preserve transaction integrity before the IRS.

  • Maximizing proceeds: We can verify that the terms from prospective tax equity partners reflect current market conditions.
 
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