In September of 2023, the Historic Tax Credit Coalition (HTCC) issued a report called Historic Preservation and the Federal Historic Tax Credit—Addressing Challenges of the 21st Century.
The report looks back at the 40-year history of the federal historic credit (HTC) and makes recommendations to modernize the incentive.
It offers an important review of the HTC program from users of the credit as well as suggests ways to improve the administration of the program, which is proving especially necessary as the market for commercial rehabilitation projects becomes more complex and challenging.
The report calls for greater flexibility in the interpretation of the Secretary of the Interior’s Standards and the need for more regulatory guidance.
For its part, the National Park Service recently held a widely-attended HTC training in Washington on September 26th and this month has issued new guidance on the use of substitute materials for historic rehabilitation projects.