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Investment Tax Credit Program


To qualify for the program, rehabilitation projects must involve income producing historic properties included in the National Register of Historic Places, either individually or as a contributing property in a historic district. The rehabilitation is reviewed by the HPO and the National Park Service, and must meet the Secretary of the Interior's Standards for the Treatment of Historic Properties.

Last year, New Jersey, the 5th smallest state, was ranked 3 in the nation with 82 projects successfully completed under this Federal tax credit program. $23,288,354 was spent on certified expenses in New Jersey alone. This large-scale private investment is a direct result of a historic preservation tool that is designed to encourage economic investment in New Jersey while helping to preserve the historic resources of the state. Many of these projects would not happen if not for the incentive offered by the Investment Tax Credit program (also know as the Federal Historic Rehabilitation Tax Credit program). Often these projects involve redevelopment in urban areas where they are critical to the revitalization efforts within our cities. For detailed program information, forms, and guidance, including information from the Internal Revenue Service, see the National Park Service website or the links below.


Recent ITC
Project Examples


The Broad Street Bank

The Broad Street Bank, located at 143 East State Street in Trenton, Mercer County, is commonly known as "Trenton's Broad Street Bank, Trenton, NJfirst skyscraper." This formerly vacant bank building was adaptively reused as retail, office and apartment space and will bring new life to downtown Trenton. The certified rehabilitation costs for this 156,812 square foot building was $29,750,000.
(Photos: C.W.Zink & Associates)
Bank Before RehabilitationBank After Rehabilitation

 

 

 

 

 

The American Standard Plant

American Standard Plant, Mercer CountyThe American Standard Plant, located at 240 Princeton Avenue in Hamilton Township, Mercer County, was adaptively reused to serve as multi-tenant office space. According to the Part 3 application the certified rehabilitation cost was $58,424,874.00. Before the adaptive reuse, the complex was 750,000 square feet, after the adaptive reuse it is 474,854 square feet.
(Photos: Suzanna Barucco)

American Standard Before RehabilitationAmerican Standard After Rehabilitation

John C. Hopkins House

Although not as large in scale as the American Standard Plant project, the John Hopkins House rehabilitation is just as impressive. This 1879, 2 1/2 story, 5 bay, Second Empire style, brick house is contributing to the Moorestown Historic District in Moorestown, Burlington County. Originally built as the home to John C. Hopkins, a prosperous merchant, this house has been transformed into a real estate office. Original finishes and features were retained and repaired. The rehabilitation costs of the project were $55,000.

John C. Hopkins House, Moorestown Historic District


Forms and Publications:

  1. Three Part Application for 20% Federal Tax Credit (NPS Website)
  2. 36 CFR Part 67, Historic Preservation Certifications Pursuant to Sect. 48(g) and Sec. 170 (h) of the Internal Revenue Service Code of 1986 (HTML)
  3. Credit Where Credit is Due, Tax Credit Theme Issue, Hist. Preservation Bulletin, Sept-Dec1999.(PDF Format)
  4. Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report: 2010 (PDF Format)
  5. Second Annual Report on the Economic Impact of the Federal Historic Tax Credit May 2011 (PDF Format)
  6. Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report: 2012 (PDF Format)
  7. Federal Tax Incentives for Rehabilitating Historic Buildings: 35th Anniversary 1977-2012 (PDF Format)



Useful Links :

  1. National Park Service: Tax Incentives (NPS Website)
  2. NPS Features Downtown Newark as a Successful Tax Incentive Project (NPS Website)
  3. Technical Preservation Services: Sustainability (NPS index)
  4. Historic Preservation Certification Application (NPS Website)
  5. Other Links

Home Preserve Tax Incentives

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Last Updated: August 13, 2013

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