Blog of the Pennsylvania State Historic Preservation Office

Category: Pennsylvania’s Historic Preservation Tax Credit (Page 3 of 4)

Summer 2018 PA Historic Tax Credit Update

After a chaotic winter where one of the federal government’s most successful historic preservation programs over the past 40 years – the Historic Preservation Tax Credit – was almost eliminated during federal tax reform, there is a lot to catch up on relating to both the federal and Pennsylvania historic tax credit programs. Continue reading

Pennsylvania Historic Preservation Tax Credit Year 3 Recap

Due to Fiscal Year 2015-2016 budget challenges, the status of Year 3 of Pennsylvania’s Historic Preservation Tax Credit program was up in the air through March 2016.  With the enactment of a budget, there was a brief application window with a March 24, 2016 deadline. The shortened budget period did impact the total number of applications to the Department of Community and Economic Development (DCED) as the total decreased from 30 in the second round to 23 applications for the third round.

PHMC quickly reviewed the applications to ensure applicants owned qualified historic buildings and that proposed rehabilitation plans met the Secretary of the Interior’s Standards for Rehabilitation.  As the qualified applications far exceed the limited $3 million in available credits, DCED used a fair and balanced selection process based on a first -come, first serve basis with regional distribution to select the first round of projects.  Continue reading

Good Things Take Time: The First Pennsylvania Tax Credit Project Comes Online

erie after 5During my tenure with Pennsylvania’s Historic Preservation Office, I reviewed numerous legislative drafts for the long-awaited Pennsylvania Historic Preservation Tax Credit program.  Early drafts included a historic homeowner component.  Later versions proposed grants instead of tax credits.  All dozen or so drafts were bypassed in the legislative process until the approval of the Pennsylvania Historic Tax Credit program in the Fiscal Year 2012-13.

After a successful launch of the program in Fiscal Year 2013-14, I was eagerly anticipating the approval of the first historic tax credit project.  My money was on a project from Philadelphia or Pittsburgh. These two cities received the most state tax credit allocations and have a long track record for project completion.  To my surprise, those two cities will need to take a back to seat to the Flagship City of Erie – our Gem City situated on the sparkling water of Presque Isle Bay and Lake Erie – and the striking rehabilitation of the CF Adams Building by the Erie Insurance Exchange. Continue reading

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