State Historic Rehabilitation Tax Credit Updates
April 9th: QREs over $1 Million Category Closed
All funds for the Projects with Qualified Expenses over $1 Million have been exhausted, and we are not accepting applications for this category. Thank you to all who applied.
April 8: CTCAC Approves SHRTC Applications
During their April 8th committee meeting, the CTCAC approved nine of the ten applications forwarded from OHP. A Residential applicant withdrew before the meeting.
The approved allocations are available on the CTCAC website.
March 20: Application Review and Referral to CTCAC
The Office of Historic Preservation has completed its review of the State Historic Tax Credit applications. We appreciate all applicants, their time and interest in applying. Thank you for your efforts to rehabilitate these historic resources, to keep them in viable use so that new stories can be added to those of the past, enriching our present and giving hope for the future.
Notifications have been sent to all applicants. Those that were successful have been forwarded to the California Tax Credit Allocation Committee (CTCAC) so that they may calendar consideration at their next available hearing.
In summary:
Commercial Projects Over $1 Million
$40 million allocated
35 Applications received
Two projects recommended for approval.
All funds are exhausted by the first two projects
Note: The application process for this category is now closed.
Commercial Projects Under $1 Million
$8 million allocated
Four applications received
Two recommended for approval
Approximately $7.5 million remaining
Residential
$2 million allocated
13 Applications received
6 recommended for approval
$1,745,848 remaining
For more information:
Over $1 million category, the full list and receipt timestamp information:
Over $1 Million Applications Queue Order
All applications summary sheet: Application Summary Sheet
CTCAC website: https://www.treasurer.ca.gov/ctcac/
For further inquiries, please email: Amy Eubanks at calshpo.tax@parks.ca.gov