In March, federal lawmakers passed a record-breaking economic stabilization package of over $2 trillion to support businesses and communities affected by the COVID-19 pandemic. However, as unemployment numbers soar and concerns of a financial crisis not seen since the Great Depression continue to grow, there have been calls for a more substantial economic recovery/stimulus package.
Presently, Congress is working to replenish the depleted Paycheck Protection Program, designed to help small businesses keep their employees as the nation weathers the pandemic. Congressional leaders are also including additional Small Business Administration loans/grants, as well as funding for hospitals, and expanded coronavirus testing into the legislation. To support recovery in the longer-term, Congress is considering and measuring support for a future infrastructure/stimulus bill.
The economic concerns are real, and legislators are gathering feedback from their constituents on what would stimulate local economies and put Americans back to work. While most agree there will be a stimulus or economic recovery bill initiated by both chambers, debate continues on how soon these bills will be considered.
Many advocates and legislators believe that the Historic Tax Credit (HTC) can and should be an integral tool for economic recovery and community revitalization during the stimulus package discussions.
For more than 40 years, the federal HTC has revitalized communities by leveraging their heritage and historic character to attract private reinvestment toward the rehabilitation of important historic buildings. The HTC has been a tried and tested tool of economic recovery like in the GO-ZONE Hurricane Katrina legislation in 2005 and economic/disaster recovery bill for Midwest floods in 2008.
Coronavirus Response: The Historic Tax Credit as an Economic Recovery Tool
Friday, April 24 l 3:00–4:00 p.m. ET
Join NTCIC, the Historic Tax Credit Coalition, and the Preservation Leadership Forum as we convene industry and preservation leaders to discuss how the federal Historic Tax Credit can support revitalization efforts and those affected by the COVID-19 pandemic.
Hear from Brian Goeken, AICP, Chief of Technical Preservation Services, National Park Service and Ramona M. Bartos, MHP, JD, North Carolina Deputy State Historic Preservation Officer about how the National Park Service and State Historic Preservation Offices have successfully managed to continue processing applications by overcoming many challenges in a time of great need.
Learn from advocates why Historic Tax Credits must be part of the government strategy to channel public and private dollars into local communities that are facing significant economic losses. Listen to a forecast of likely legislative activity in Congress over the next weeks and months and what the preservation community can do to help ensure historic preservation provisions are included in future economic stimulus bills. Finally, take with you advocacy materials that will help prepare for conversations with elected officials about the importance of a strengthened historic tax credit in our national response to the Coronavirus pandemic.
- Ramona Bartos, MHP, JD, Deputy State Historic Preservation, North Carolina Department of Natural and Cultural Resources
- Tim Simmons, Senior Preservation Architect and Federal Rehabilitation Tax Credit Coordinator, North Carolina Department of Natural and Cultural Resources
- Mitch Wilds, Branch Supervisor, North Carolina Department of Natural and Cultural Resources
- Brian Goeken, AICP, Technical Services, National Park Service
- Merrill Hoopengardner, CEO, National Trust Community Investment Corporation
- Shaw Sprague, Senior Director, National Trust for Historic Preservation
- Patrick Robertson, Principal, Confluence Government Relations
- Steve Stombres, Principal, Harbinger Strategies
- Jim Igoe, Executive Director, Preservation Massachusetts
National Trust Network Resources
Irvin Henderson Main Street Revitalization Fund
Currently Seeking Main Street-Oriented Projects
The Irvin Henderson Main Street Revitalization Fund provides up to $2 million in tax credit financing to support Main Street-oriented projects eligible for both Historic and New Markets Tax Credits. Click below to learn more about the program and submit your project. | Irvin Henderson Main Street Revitalization Fund
The National Main Street Center
COVID-19 Main Street Resource Center
Community is at the heart of everything we do. As COVID-19 begins to have an increasingly significant impact on communities across the country, we are compiling existing resources and opportunities to help Main Street districts during this crisis. From information regarding Federal guidelines and programs to Main Street program support and small business resources, we are here to support you. | Read More
The National Trust for Historic Preservation
Supporting Historic and Cultural Assets Through the Pandemic
The National Trust for Historic Preservation has assembled a collection of resources to help our community, virtual guides through historic places that had to temporarily close their doors, and resources to uplift our spirits during this stressful time. This collection of resources will be continually updated as more become available. | Read More