Historic Tax Credits
HISTORIC TAX CREDIT GROWTH & OPPORTUNITY ACT (HTC-GO)
H.R. 2294 & S. 2266
The Historic Tax Credit (HTC) is a proven tax incentive for both revitalizing historic community assets and supporting economic development and recovery.
On April 1, 2021, HTC-GO was introduced into the House of Representatives by a bipartisan group of legislators, including Representatives Earl Blumenauer (D-OR), Darin LaHood (R-IL), Brian Higgins (D-NY), and Terri Sewell (D-AL). And on June 24, 2021, the bill was introduced into the Unites States Senate, co-sponsored by Senators Cardin (D-MD), Cassidy (R-LA), Cantwell (D-WA), and Collins (R-ME). This important legislation includes both temporary provisions that will bring relief to projects impacted by the pandemic and permanent provisions that will bring more value to the HTC, improve access to the credit, and enhance investment opportunities for smaller rehabilitation projects.
LOCAL EFFECTS OF HISTORIC TAX CREDITS
In Wilmington, rehabilitated buildings using the federal historic preservation tax credits include the 1915 Knights of Pythias Castle, now used as Monteith Construction’s offices, the 1897 Solomon Building, soon to be Seabird Restaurant, and the 1903 Richter Building, now a film production company (and winner of a 2020 Preservation Award!).
HTC-GO will further incentivize private investment in our region’s historic structures while creating jobs, revitalizing communities, and instilling community pride in North Carolina’s history.
HTC-GO FACT SHEET
To learn more about both the temporary COVID-19 related provisions, in addition to permanent provisions, CLICK HERE!
CALL TO ACTION
Join HWF in advocating for the passage of HTC-GO! CLICK HERE to urge your U.S. House Representative and Senators to support this vital legislation.
HISTORIC WILMINGTON FOUNDATION’S ADVOCACY
HWF believes in the power of historic tax credits to preserve and protect the irreplaceable. That’s why we’re advocating on behalf of this vital legislation. Below, you’ll find links to HWF Executive Director Travis Gilbert’s letters to our Congressional delegation: