Certified California Tax Incentive Projects
FEDERAL HISTORIC PRESERVATION TAX INCENTIVE PROGRAM
The Federal Historic Preservation Tax Incentives Program has proven to be one of the nation's most successful and cost-effective tools for creating affordable housing in historic buildings, revitalizing communities, and preserving historic places that give cities, towns, and rural areas their special character. The incentives reward private investment in the rehabilitation of historic properties that are individually listed in the National Register or contribute to a National Register Historic District and certain registered local historic districts. Properties must be income-producing and must be rehabilitated according to Standards set by the Secretary of the Interior.
Federal historic preservation tax incentives generate jobs, both during the construction phase and in the spin-off effects of increased earning and consumption. Rehabilitation of historic buildings attracts new private investment to the historic core of cities and towns and is crucial to the long-term economic health of many communities. Enhanced property values generated by the Historic Preservation Tax Incentives Program result in augmented revenues for local and state government through increased property, business, and income taxes.
The California Office of Historic Preservation is the point of contact within the state for property owners wishing to use the rehabilitation tax credit. OHP may also be able to provide technical guidance before a project begins to make the process as expeditious and economical as possible.
CALIFORNIA CERTIFIED TAX INCENTIVE REHABILITATION PROJECTS
The National Park Service (NPS) approved 9 California projects in 2019 as certified rehabilitations. These completed projects were determined to meet the Secretary of the Interior’s Standards for Rehabilitation. California ranked 12th in the nation in terms of certified expenses that totaled $206,099,108.
Building types rehabilitated in 2019 varied from residences, a church, a warehouse, and a firehouse, as well as midrise office and industrial buildings. Project floor areas ranged from 2,700 SF to 140,347 SF with rehabilitation costs spanning $200,000 to $90,222,823.
In the Federal Fiscal Year 2019, NPS approved 1,042 projects (Part 3s) nationwide which represented an estimated investment of $5.77 billion. The program continues to be an effective stimulus for economic recovery in older communities.
See the 2019 NPS Annual Report for national statistics now available.
OHP is the point of contact for California property owners wishing to use the rehabilitation tax credit. OHP is able to provide technical guidance before a project begins to make the process as expeditious and economical as possible.
CALIFORNIA HISTORIC PRESERVATION PROJECTS PREVIOUS TO 2019
Those seeking information about California tax credit projects earlier than 2019 should call the Architectural Review unit of OHP.