Historic Preservation Tax Credit

The Historic Preservation Tax Credit is a series of programs offered by the United States government and the State of Alabama to support the preservation and adaptive re-use of historic structures.

The federal program allows owners to claim a tax credit of up to 20% of qualifying expenses toward the rehabilitation of a National Register of Historic Places-listed properties and 10% for other pre-1936 structures for income-producing purposes. The work must be performed according to the Secretary of the Interior's Standards for Rehabilitation. The program is administered by the National Park Service and the Internal Revenue Service in partnership with the Alabama Historical Commission.

Alabama's Historic Preservation Tax Credit was instituted in 2013. It allows for a a credit of 25% of rehabilitation expenses for income-producing or residential purposes for certified historic structures, or a 10% credit for buildings constructed before 1936 which are not certified as historic. The state allows any NRHP listed building, any building identified as a contributing structure in an NRHP listed historic district, and any building which is eligible for such a listing to be certified. Qualifying projects must meet a threshold of $25,000 or 50% of the purchase price for the property to qualify, and the work must be done according to the Secretary of the Interior's Standards for Rehabilitation. Commercial project credits are capped at $5,000,000 and residential projects at $50,000. The program itself is limited to $20,000,000 in total tax credits per fiscal year. The credit can be applied over ten consecutive tax years after certification.

Federal tax credit projects

Birmingham

Structure	Project cost	Year completed
A. B. Loveman residence	$600,000	2010
Bingham residence	$250,000	2005
Birmingham Publishing Company	$822,962	2002
Burger-Phillips Building	$1,366,277	2001
Chamber of Commerce Building	$3,655,755	2004
Clark Building	$4,122,852	2000
Crawford's Auto Shop	$5,800,000	2009
Dewberry Building	$495,040	2005
Dr Pepper Bottling Plant	$331,666	2001
Drennen Building	$475,000	2006
Emanuel's Barbering Salon	$96,000	2004
Fix-Play Building	$2,000,000	2004
Gilbreath Building	$533,296	2005
Goodall Brown Building	$4,001,531	2004
Havenwood Apartments	$201,200	2005
Historic 1900 Building "Historic 1900 Building"	$14,000	2001
Historic 1900 Building "Historic 1900 Building"	$17,500	2001
John A. Hand Building	$31,505,000	2005
Kenilworth Arms	$1,900,000	2004
Kessler Building	$1,599,106	2004
Lorch Bennett's Furniture Warehouse	$1,000,000	2001
Magic City Casket Building	$1,036,500	2003
Martin Biscuit Building	$5,226,226	2001
Mayberry Hardware Building	$2,733,000	2005
McCants residence	$450,000	2007
National Birmingham Garage	$146,594	2004
Nelson Manufacturing Company	$1,301,281	2007
Phelan Park duplex	$125,000	2007
Phoenix Building	$8,029,213	2005
Redmont Hotel	$2,460,419	2006
Rialto Theatre	$820,245	2006
S. H. Kress building	$1,020,402	2001
Stagg Company/Warren Reed Millinery	$700,000	2002
Starr Piano Company building	$350,000	2001
Taylor Carriage Company building	$775,000	2007
Transportation Building	$2,500,000	2001
Western Electric Company warehouse	$296,000	2000
Watts Building	$4,504,000	2002
Young & Vann Building	$1,966,378	2008
YWCA Building	$6,707,010	2006

Bessemer

Structure	Amount requested or approved	Year completed
Redmont Hotel	$2,500,000	2016
Florentine Building	$1,025,538	2015
Pizitz Building	$5,000,000	2016
Thomas Jefferson Hotel	$5,000,000	2016
Birmingham Fire Station No. 10	$75,000	2016
Empire Building	$5,000,000	2016
First Federal Savings and Loan Building	$1,362,500	2016
Empire Parking Garage	$62,200	2016
Iron Age Building	$187,500	2016
Mack Truck Garage	$281,250	2016
Brown-Marx Building	$5,000,000	2016
Shepherd-Sloss Building	$270,688	2016
Lyric Theatre	$2,435,000 granted ($393,750 more requested)	2016
Cain Furniture Co.	$1,662,500	2016
Powell School	$1,282,179	2016
Birmingham Branch of the Federal Reserve Bank of Atlanta	$5,000,000	2016
Orlando Apartments	$40,000 requested	2016

Alabama Historic Rehabilitation Tax Credit projects

Structure	Project cost	Year completed
Birmingham Electric Company Building	$175,000	2000
McAdory Block/Huey Building	$50,000	2001
Owen-Kartus-Vance residence	$35,000	2001

See also

• Save America's Treasures grant program

References

• Diel, Stan (October 15, 2015) "Status of Historic Preservation Tax Credits for Projects Across Alabama." BirminghamWatch

External links

• Tax Incentives at nps.gov