The National Park Service (NPS) recently released its 2012 annual report on the historic tax credit (HTC) entitled “Federal Tax Incentives for Rehabilitating Historic Buildings”. The report notes that in FY 2012, 1,020 proposed historic tax credit (HTC) developments were approved, which represents around $5.33 billion in rehabilitation work. In addition, the 744 completed projects in FY 2012 created an estimated 57,783 jobs, $3.15 billion in rehabilitation work, and 6,366 new low and moderate income housing units. These figures are based on a NPS funded study by the Rutgers University Center for Policy Research. The report also details a few notable case studies that have successfully utilized the HTC.
Click here to read the NPS report.
