Federal Historic Preservation Tax Credits Benefit California
What have the Federal Historic Tax Incentives done for California?
Over one and a half billion dollars have been spent in California over the past 10 years on certified historic tax projects (20% Historic Preservation Tax Credits) across the state. The Certified Expenses from the 2007 Federal Fiscal Year through the 2016 Federal Fiscal Year have added up to $1,658,649,374 (total project expenditures are even higher when all other non-eligible costs are added.
Certified Expenses for Federal Fiscal Years 2007 to 2016
The 121 certified historic preservation tax projects in these years have been located in 20 counties, with the top county double-digit totals beings: Los Angeles (34), Marin (21), San Diego (21), and San Francisco (14). Additional counties include: Alameda with 7 projects; Contra Costa and Sacramento Counties with 4 projects each; Napa, San Luis Obispo, and Solano Counties with 2 projects each; and, Butte, Humboldt, Merced, San Benito, Santa Cruz, Shasta, Siskiyou, Stanislaus, and Yolo Counties with 1 project each.
Certified Projects per County for Federal Fiscal Years 2007 to 2016
The top California projects over $40,000,000 during the past 11 years:
|2005||Ferry Building, San Francisco||$97,700,000|
|General Petroleum Building, Los Angeles||$44,000,000|
|2007||Subway Terminal Building, Los Angeles||$55,175,744|
|2009||Ford Assembly Plant, Richmond||$54,900,000|
|Pacific Electric Building, Los Angeles||$52,612,555|
|Piers 1-1/2 and 3, San Francisco||$47,320,695|
|Fort Baker, Sausalito (20 buildings)||$40,798,472|
|2010||Fox Oakland Theatre, Oakland||$79,500,000|
|2011||Presidio Public Health Service Hospital, San Francisco||$75,034,443|
|2013||Central YMCA, San Francisco||$57,000,000|
|Pier 15, San Francisco||$180,170,000|
|2014||The Forum, Inglewood||$78,723,091|
|2015||Lincoln Place, Venice||$128,200,000|
Just as important are the smaller projects (in terms of certified expenses during the past 12 years) under $400,000:
|2004||429 Normal Avenue, Chico||$160,000|
|2006||429 W. Third Street, Chico||$69,474|
|2008||640 West 8th Street, Long Beach||$84,804|
|Ah Louis Store, San Luis Obispo||$262,683|
|2010||CDW Historic Lawn Way Beach House, Capitola||$233,232|
|2012||529 Normal Avenue, Chico||$298,543|
|2014||Mom and Pops Saloon, San Juan Bautista||$126,000|
|2015||Thompson House, Richmond||$350,000|
The federal historic tax credits continue to stimulate their local communities and economies and enrich our lives in significant ways. They create jobs and are good for neighborhoods, the local economy, and the environment.
In California, the Mills Act can be linked with the 20% historic preservation investment tax credit provided by the Federal Historic Preservation Tax Incentives Program and the Tax Reform Act of 1986. Federal affordable housing tax credits may also be utilized with these incentives to offset rehabilitation costs. Over a half billion dollars of private investment in California’s historic buildings is due in a large part to this program. Preservation tax incentives used on under-utilized or abandoned hotels, offices, stores, schools, warehouses, and factories give new uses that maintain their historic character and revitalize the property.
Annual Reports of all certified tax projects in California since 2019 are available at OHP's Certified California Tax Incentive Projects web page. For information on tax credit projects before then, contact the rchitectural Review unit.