Rehabilitation Tax Incentive Projects
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The Rehabilitation Investment Tax Credit Program |
The
federal government offers a Rehabilitation Investment Tax Credit for
the rehabilitation of certain income-producing historic properties: • 20% tax credit for certified rehabilitation of certified historic structures • 10% tax credit for rehabilitation of non-historic, nonresidential pre-1936 buildings Rehabilitation of historic buildings has resulted in tax benefits for owners of historic buildings throughout the country. Warehouses, factories, retail stores, apartments, houses and offices have been preserved and reused, bringing new life into historic cores of cities and towns. The Jaeger Company can guide property owners through the application and certification processes required to take advantage of these Preservation Tax Incentives. The firm provides assistance with rehabilitation issues and completes application forms for federal and state programs. |
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New Albany Hotel • Albany, Georgia |
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A major first-class hotel built in 1925 to accommodate travelers, the Colonial Revival-style New Albany Hotel was once a center of Albany's social life. Its rehabilitation was an important revitalization effort for the downtown. The building now provides housing for the elderly as well as meeting and office space. The Jaeger Company advised the project developers on rehabilitation issues and completed applications for Federal and State Tax Incentives programs as well as documentation for Section 106 review. |
| Carter House • Gainesville, Georgia | |
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The c.1890 Queen Anne-style Carter House is in an area of Gainesville that transitioned through the years from residential to industrial. The Jaeger Company assisted the current owner in gaining a tax credit of 20% of the amount spent in rehabilitating the house for use as an office building. The owner gained affordable office space; the community retained an architectural treasure. |
