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March 14, 2019

National Park Service Annual Report Reflects Tremendous Economic Impact of Federal Historic Tax Credit Program

The National Park Service released its 2018 Fiscal Year Annual Report on the Federal Historic Tax Credit, which highlights the tremendous positive impact of the Federal HTC across the nation, including $6.9 billion in private investment in historic preservation in FY 2018. Since the Program’s inception in 1977, over 44,000 structures have been rehabilitated using the Federal HTC with over $96 billion in investment into those projects.

The Federal HTC provides a 20% tax credit to property owners who undertake a substantial rehabilitation of a historic building with a business or income-producing use, while maintaining its historic character. In a three-part application process, the National Park Service certifies that a building is historic, and therefore eligible for the program, and that its rehabilitation meets preservation standards.

For over 10 years, Stonehenge Capital has invested in historic rehabilitation projects utilizing both the federal and state historic tax credit programs. As the NPS Report notes, 35 states, including Louisiana, Texas, New York, Ohio, Oklahoma and South Carolina have state historic tax credit programs that can be used in tandem with the federal program to rehabilitate historic structures that are often blighted and vacant in our nation’s Main Street communities.

With historic tax credit investments in over 12 states, Stonehenge Capital is a nationally recognized marketplace leader in federal and state historic tax credits. We have invested in projects that have generated over $3 billion in various federal and state incentives across the United States since 1993 without having a single incentive recaptured. Our core business is to provide sponsors and developers with capital solutions and to assist institutional investors with identifying, structuring, underwriting, closing and managing portfolios of incentive-based investments. Our expertise keeps the process simple and ensures we add value for all stakeholders throughout the entire incentive process