The Historic Tax Credit (HTC): What You Need to Know

The Historic Tax Credit (HTC): What You Need to Know

Developers interested in rehabilitating and repurposing historic buildings may wish to look into the Historic Tax Credit, or HTC program, a federal tax credit program which provides a 20% credit against the cost of rehabilitating eligible historic structures. Over the last 40 years, the program has been responsible for the restoration of numerous historic landmarks, and has lead to more than $140 billion of private investment dollars being funneled into historic rehabilitation projects.

Read More

The New Markets Tax Credit (NMTC): What You Need to Know

The New Markets Tax Credit (NMTC): What You Need to Know

The New Markets Tax Credit, or NMTC, is one of the largest tax credit programs in the United States, having issued approximately $25 billion in tax credits over the last 15 years. The NMTC is designed to encourage investment in low-income communities through the use of Certified Development Entities, specialized financial entities which must be authorized and annually re-certified by the Community Development Financial Institutions Fund (CDFI Fund), a U.S.. government agency which promotes economic development in distressed areas througout the country.

Read More