Incentives offered for
developing in Downtown Memphis . . .
PILOT Program
Development Loan Program
Historic Tax Credit Program
Main Street Tenent Loan Program
Broker Bonus Program
Bond Issues
Go to download of
Historic Tax Credit Brochure
(Requires Adobe Acrobat Reader)
View map of
Downtown Historic Districts
(Requires Adobe Acrobat Reader)
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historic tax credit program
The federal government offers a 20% tax credit
incentive for rehabilitating commercial historic properties. One dollar of tax
credit reduces the amount of income tax owed by the property owner by one
dollar.
The tax credit applies to projects designated as a certified
rehabilitation of a certified structure by the Secretary of the Interior.
Certified structures are buildings listed in the National Register of Historic
Places or a building located in a registered district and certified by the
National Park Service as contributing to the historic significance of that
district.
Since smaller rehabilitation projects find it difficult to
benefit from historic tax credits due to transaction costs, the Center City
Commission teamed with Guilford Capital Corporation to help smaller projects
benefit from the tax credits.
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