Historic Tax Credit Developers Conference February 7

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Historic Tax CreditDevelopers
ConferenceFebruary 7 8Don CeSar Beach
Resort, St. Pete Beach, Fl
Working with the National Park Service and
States
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Certification Process

• 3 Part Application Process
• Part 1 - Historic Status
• Part 2 - Design Approval
• Part 3 - Project Completion
• State and National Park Service Review
• 60-Day Minimum Review More Likely 90-120 Days
• Approx 30 Design Development Drawings Necessary
  for Submission
• Secretary of Interiors Standards for
  Rehabilitation

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NPS Design Hot Buttons

• Window Replacements
• Interior Floor Plan Changes
• New Additions
• Functionally Related Complexes

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Response to Issues

• Tax Act Review Reform Policy Paper (June 2003)
• Issued by the National Conference of State
  Historic Preservation Officers (NCSHPO)
• Recommended reforms to the Tax Act Review process
• Recommendations for Improving Administration of
  the Certified Historic Rehabilitation Tax Credit
  Program (December 2003)
• Issued by the Historic Preservation Development
  Council (HPDC)
• Recommended changes that would make the program
  more sensitive to the realities of the real
  estate development process

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Response to Issues

• Tax Act Review Reform Policy Paper (June 2003)
• Issued by the National Conference of State
  Historic Preservation Officers (NCSHPO)
• Recommended reforms to the Tax Act Review process
• Recommendations for Improving Administration of
  the Certified Historic Rehabilitation Tax Credit
  Program (December 2003)
• Issued by the Historic Preservation Development
  Council (HPDC)
• Recommended changes that would make the program
  more sensitive to the realities of the real
  estate development process

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NPS Response

• Recommendations for Improving Administration of
  the Certified Historic Rehabilitation Tax Credit
  Program (August 2004)
• NPS agreed to undertake a number of changes
  including establishing a committee of the
  National Park System Advisory Board made up of
  parties interested in the in how the Secretarys
  Rehabilitation Standards are interpreted.
• Committee was formed in 2005 and listened to
  presentations by SHPOs, the IRS, developers and
  preservation professionals.
• Federal Rehabilitation Tax Credit Program
  Recommendations for Making a Good Program Better
  (September 2006)

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Albert Rex MacRostie Historic Advisors LLC 56
Highgate Road Marlborough, MA 01752 (617)
359-7261 albert_at_mac-ha.com www.macrostiehistoric.c
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