Federal Historic Preservation Tax Credits Benefit California
What have the Federal Historic Tax Incentives done for California?
Over two billion dollars have been spent in California over the past 11 years on certified historic tax projects (20% Historic Preservation Tax Credits) across the state. The Certified Expenses from the 2009 Federal Fiscal Year through the 2020 Federal Fiscal Year have added up to $2,055,629,991 (total project expenditures are even higher when all other non-eligible costs are added).
Certified Expenses for Federal Fiscal Years 2003 to 2020
The 175 certified historic preservation tax projects in these years have been located in 23 counties, with the top county double-digit totals beings: Los Angeles (49), San Diego (24), San Francisco (23) and Marin (21). Additional counties include: Alameda with 11 projects; Sacramento with 8 projects, Contra Costa with 6 projects, Napa with 5 projects, and Humboldt and Solano Counties with 3 projects each. San Benito, San Luis Obispo, Shasta, Stanislaus and Yolo Counties have 2 projects each; Butte, Merced, Santa Cruz, and Siskiyou Counties have 1 project each.
Certified Projects per County for Federal Fiscal Years 2009 to 2020
The top California projects over $40,000,000 during the past 11 years:
|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|
|Mutual Savings Bank, San Francisco||$52,764,809|
|2015||Lincoln Place, Venice||$128,200,000|
|2018||Proper Hotel/Renoir Hotel, San Francisco||$75,871,136|
|2019||Commercial Exchange Building, Los Angeles||$59,776,802|
Just as important are the smaller projects (in terms of certified expenses during the past 12 years) under $400,000:
|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|
|2019||308-310 Tunnel Avenue, Richmond||$200,000|
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 2020 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.