Historic Preservation Tax Credits

Historic Preservation Tax Incentives are among the most successful and cost-effective community preservation tools available.

PAL specializes in the process to certify that a property is eligible for historic preservation tax credits and in preparing the three-part Historic Preservation Certification Application (HPCA) required under Federal and State tax laws.

PAL works with private developers and non-profit organizations to ensure clients received Federal and/or State preservation tax credits to support redevelopment of income-producing historic properties.


Process
PAL architectural and industrial historians work closely with the client and architect to prepare all the necessary historic application documents (Parts 1, 2, 3, amendments, and related materials) and photography for each step of the process. Throughout the historic preservation tax credit process, PAL monitors the projects adherence to historic preservation standards, serves as the client’s liaison to the State Historic Preservation Officer, and facilitates proper communication and the timely submission of products.

Benefits of Historic Preservation Tax Credits
Historic Preservation Tax Credit programs benefit cities and towns because:

  • They create jobs, foster private-sector rehabilitation of historic buildings, and provide a strong alternative to government ownership and management
  • The majority of eligible buildings are located within historic cores of cities and towns, where their revitalization enhances property values and increases revenue for local and state governments
  • The adaptive use of abandoned or underutilized historic buildings is vital to maintaining the historic fabric that lends cities, towns, and rural areas their special character, and encourages other redevelopment
  • The adaptive use of existing buildings suppots environmental sustainability
District Four Schoolhouse, Before and After, Warwick, RI  1996Honans Block, Before and After, Woonsocket, RI  1989Kaiser Mill / Elder Care III Housing, Before and After, Bristol, RI  1998-2000