Historic Property Reinvestment Program: Assessing its Impact and Evolution
About this Session
Participants will learn about the Historic Property Reinvestment Program (HPRP) and how it has evolved since it first started taking applications in 2022. The session will give attendees a general overview of what the Program is today, including the most recent changes to the Program’s rules and application. Information will focus on the behind-the-scenes assessment of the Program’s effectiveness, including how the data collected and feedback received was utilized in legislative and regulatory improvements made to the Program. Additionally, the session will include updates on some of the Program’s approved projects, and how we expect the completion of these first approved projects will affect the Program and economic development at the local and state levels.
The HPRP is a historic tax credit (HTC) program which can be used to leverage the Federal HTC. Most projects approved under the Program can receive tax credit awards of 50-60% of eligible costs up to a maximum of $12 million, depending on project type and location.
