HUD Launches Toolkit on Using the Historic Tax Credit for Affordable Housing
This past May, HUD broadcast a webinar on Using the Historic Tax Credit for Affordable Housing. To complement the webinar, we’ve assembled a toolkit that highlights the most critical components of the webinar, along with links to supporting resources.
The Historic Tax Credit (HTC) is a federal credit, and amounts to 20% of the qualified rehabilitation expenses in a project. When syndicated, the HTC can bring substantial equity to a project budget. The HTC can be combined with the Low-Income Housing Tax Credit (LIHTC). The webinar focuses on affordable housing, but the HTC guidance also applies to other types of uses. If a building is listed on or eligible for the National Register of Historic Places, and will have an income-producing use, it may qualify for the HTC if the rehabilitation work is substantial and retains the historic character of the building.
We wish you good luck in your continued efforts to support affordable housing and preservation of our historic downtowns and neighborhoods.
View the Using the Historic Tax Credit for Affordable Housing toolkit.