Historic Rehabilitation Tax Credit

Holland & Knight is one of the premier providers of legal services in the area of historic rehabilitation tax credit financing. The Historic Tax Credit Program is one of the nation's most successful and cost-effective community revitalization programs. Since its adoption in 1976, the program has fostered widespread private sector rehabilitation of historic landmarks and historic districts, and has promoted economic revitalization in many communities across the United States.

We have more than 30 years experience working on deals involving the Historic Tax Credit Program. Our attorneys handle all aspects of historic rehabilitation tax credit transactions, including analyzing and recommending the best structure for the transaction, preparing the organizational documents for the investment vehicles, preparing syndication and related documents, rendering tax advice, working closely with accountants to ensure the proper treatment of the projected tax benefits, issuing tax opinions, and advising as to compliance with federal and state securities laws.

In addition to transactional and structuring work, tax advice and rendering tax opinions, we also review project compliance with standards established by the United States Secretary of the Interior; facilitate communications with the National Park Service and State Historic Preservation Officers; review real estate project, development and land use issues; analyze structuring issues presented by other tax incentive programs such as the low-income housing tax credit, the new markets tax credit and various state historic rehabilitation tax credit programs; address issues presented by conventional financing sources; research novel tax issues; and communicate with multimember development and financing teams.

We have represented developers, nonprofit organizations, syndicators and investors in connection with the development, rehabilitation and equity syndication of hundreds of historic tax credit projects. These transactions have involved the redevelopment and rehabilitation of a wide variety of historic properties throughout the United States, including commercial office buildings, retail buildings, industrial mill complexes, hotels, residential and luxury apartment complexes, museums and stadiums. We also have extensive experience representing nonprofit developers with the special issues related to the rehabilitation of historic theatres and are an active member of the League of Historic American Theatres.

Holland & Knight attorneys are active participants in the industry and frequently serve as lecturers on topics related to the historic tax credit. We provide advice and advocacy on issues concerning preservation policy and law, and have contributed to various legislative proposals designed to improve the efficiency and effectiveness of the historic tax credit. We also are actively involved with organizations such as National Trust for Historic Preservation, the National Housing & Rehabilitation Association, the Historic Tax Credit Coalition, the Historic Preservation Development Council and other similar industry groups.