Federal Rehabilitation Tax Credits
Owners of income-producing properties that are eligible for listing on the National Register of Historic Places have the potential to qualify for a 20% after-tax credit on their federal income tax return for qualified rehabilitative expenses related to their property's redevelopment. Gregory Dietrich Preservation Consulting provides client assistance with the program's three-part application process, ensuring that all requirements are met in order to receive preliminary and final certification from state and federal regulatory agencies.

Preservation Easements
Owners of certified historic properties may take a charitable deduction on their federal income tax form for donating the maintenance of their building's facade in perpetuity to a non-profit conservation organization. Benefits may also be accrued from this program through reduced estate, gift and local property taxes. Gregory Dietrich Preservation Consulting provides client assistance with the program's application process, ensuring that all requirements are met in order to receive preliminary and final certification from state and federal agencies.

State Rehabilitation Tax Credits
States such as New York, Connecticut, Delaware and Maryland offer state tax credits as an added incentive for rehabilitating National Register listed properties. In New York State, for example, owners of commercial properties or owner-occupied residential properties listed on the National Register that are located in eligible census tracts have the potential to capture 20% after-tax credits for qualified rehabilitative expenses related to their property's redevelopment. Gregory Dietrich Preservation Consulting provides client assistance with the tax credit process, ensuring that all requirements are met in order to receive preliminary and final certification from the state historic preservation office.

Preservation Grants
Grant opportunities abound in the field of Historic Preservation via local, state and federal governments, preservation trusts, and private foundations which fund bricks and mortar projects, National Register Nominations, preservation planning studies, and educational materials dedicated to preserving memory and place. Grant applications for Historic Preservation projects can be onerous and complex, requiring the collaboration and coordination of applicant, architect and preservation consultant to ensure that an application is both technically complete and submitted on time. Gregory Dietrich Preservation Consulting brings both project management and principal investigator expertise to any grant opportunity, providing the fundamental skills of coordination and expertise to produce a winning application.

Not sure if your project qualifies?
The decision to capture federal and/or state historic tax credits for a rehabilitation project, pursue a charitable deduction for a preservation easement or apply for a preservation grant can be fraught with a host of questions about project feasibility and economic viability. Gregory Dietrich Preservation Consulting can assist in the due diligence process by clarifying eligibility requirements, providing an analysis of the specific project's feasibility and offering assistance in building the team for a successful application.

 

     Home :: Clients :: Tax Credits / Grants :: Nat'l Register Nominations :: Preservation Planning :: Resource Studies :: Research :: Presentations :: About :: Contact :: Media :: Events
EventsAboutContactPresentations Media Home Research & DocumentationCultural Resource StudiesPreservation PlanningNational Register NominationsHistoric Tax Credits / Preservation Grants Client Representation