Adequate levels of funding and financial incentives are key to preserving historic resources and allowing for adaptive reuse.  

The Massachusetts Historic Rehabilitation Tax Credit is a critical source of funding for rehabilitation efforts, but currently has an annual cap, so not all eligible projects receive funding.  The Legislature should raise or eliminate this cap.  Local property tax relieve might be granted through tax exemptions and abatements targeted to historic preservation investments.  

The Community Preservation Act is a critical source of local funds for historic preservation.  Reforms to the CPA legislation, described in Strategy 2, will help to ensure continued state funding for the program and will allow more municipalities to participate.  MHC has also identified reforms to the CPA that will encourage coordination with the MHC and adherence to the Secretary of the Interior’s Standards for historic preservation.  The legislature should consider including those reforms as well.

9.a    The Legislature should expand the state investment tax program through increasing or removing the annual cap

9.b    The legislature should consider Community Preservation Act revisions to encourage coordination with the MHC and adherence to the Secretary of the Interior’s Standards

9.c    MHC should evaluate potential tax abatement/tax exemption programs

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