Many have asked if money is available for repair or restoration of Historic Buildings that are privately owned. The answer is 'yes' in the form of tax credits, but with very specific requirements that must be met.
The Massachusetts Historic Rehabilitation Tax Credit is an exciting addition to the preservation toolkit. Under the program a certified rehabilitation project on an income-producing property is eligible to receive up to 20% of the cost of certified rehabilitation expenditures in state tax credits. There is an annual cap, so there are selection criteria that ensure the funds are distributed to the projects that provide the most public benefit. The MHC certifies the projects and allocates available credits.
For more information and the application form please visit: http://www.sec.state.ma.us/mhc/mhctax/taxidx.htm