Historic Wrigley Building in Chicago

Historic Tax Credits: comparison for building rehabilitation

Are you considering a significant rehabilitation of an existing building?

Federal Historic Tax Credits (HTCs) can fund up to 20 percent of the costs of a rehabilitation project and state HTCs can provide even more. The program can be extremely beneficial, but there are many upfront issues to consider.

We have compiled a high-level comparison of key aspects of renovating an existing building with and without HTCs, including the following areas:

  • General project characteristics
  • Capital stack
  • Developer fee
  • Pro forma projections
  • Ownership structure
  • Construction
  • Compliance
  • Cash flow
  • Exit strategy
  • Design
  • Timeline
  • Property management

We hope you find this to be a useful tool in determining whether HTCs are a good fit for your next project.

For more information on this deal, or to learn how Baker Tilly’s Historic Tax Credit specialists can help, contact our team.

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