The Historic Tax Credit (HTC) is a proven tax incentive for revitalizing historic built assets, supporting equitable economic investment in communities of all sizes and reducing both embodied and operational carbon. 

The federal HTC is the largest federal investment in historic preservation. Unfortunately, the value of the HTC incentive has diminished over the past decade because of IRS rulings, administrative burdens, changes in the credit structure, as well as spreading the distribution of the credit over five years (as modified by the Tax Cuts and Jobs Act of 2017). As a result, the HTC has lost 20 – 25% of its investment value as interest rates continue to climb and materials and labor costs soar.