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Rehabilitation Tax CreditApplication Process
“Getting it Right”
Kathleen S. Kilpatrick
Virginia State Historic Preservation Officer
November 7, 2007
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Federal Program• Established 1977• Over 34,000 projects certified nationally since
1977• More than $4 billion invested in FY’06• 1,253 projects approved in FY’06
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Virginia Program• Established in 1997• Modeled on Federal Program• NPS FY’06: Virginia ranks #2 for projects certified =
$172 million invested• $1.4 billion invested since 1997• Over 1,200 state projects certified
Atlantic Motor Company, Richmond
Before After
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Benefits of Program
• Historic Preservation
• Economic Development
• Urban Revitalization
• Environmentally Sound
• Social Cohesion
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Part 1: Evaluation of Significance
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Part 1• Establishes that property can participate in
program:– Individually listed in National Register of
Historic Places (NR)
Reynolds Metals International Headquarters, Richmond
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Part 1• Establishes that property can participate in
program:– Contributing resource within Historic District
listed in NR
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Part 1
Basic Property Information:
• Address
• NR Status
• Project Contact
• Ownership
• Physical Description (Pg. 2)
• Why is it significant? (Pg. 2)
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Part 1Property evaluated as it currently exists:• Include general photos of property
• Include map of property, and location in Historic District
Seidenburg & Company, Petersburg
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Things to remember:
• Part 1 must be submitted before project is completed
• May receive preliminary certification, but property must be listed within 30 months
• If multiple resources, address them all
• 5 year “shelf life” for an application
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Part 2:Description of Rehabilitation
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Part 2
• Basic property information
• Project contact and ownership
• Data on rehabilitation– Square footage
before/after project– Proposed use– Project start date– Phases
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Part 2
• Insert Part 2 page 2 • Description of existing conditions
• Include comprehensive set of photos, esp. deteriorated elements
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Part 2
• Insert Part 2 page 2 • Description of proposed work– Detail all changes– Include drawings of
existing and proposed floorplans
– Product specifications
Existing Proposed
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Things to remember:
• Submit Part 2 prior to beginning work, if possible
• Phased project must be proposed up front
• All work must be consistent with the Standards for Rehabilitation
• Consult NPS guidance documents
• All work on property must be reviewed
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Amendment
Used for:• Additional information• Change in scope of
work• Respond to
conditions established by SHPO and NPS
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Part 3:Request for Certification of
Completed Work
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Part 3
• Property information• Project start date• Rehabilitation
completion date• Estimated rehabilitation
expenditure• Costs associated with
new construction, site work
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Part 3
• Original signature• Correct information
– Ownership– Taxpayer ID Number
• Comprehensive set of photos of completed project
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Tips for a Successful Application
• Build the best professional team
• Become familiar with Standards for Rehabilitation
• Do your homework – will the project respect the historic character and spaces?
• Consult with NPS/SHPO early and often
• Follow progress carefully – make sure things going as proposed
• Accurate, thorough applications will be easier for NPS/SHPO to review
Leads to . . .
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A Peaceable Kingdom