The State Historic Tax Credit program is the single most important tool to the redevelopment of historic properties in Rhode Island,
More than 300 historic buildings throughout the state have been rehabilitated through the use of Historic Tax Credits, representing more than $1.8 Billion in private investment. This program is critical to revitalizing our communities and acts as an economic driver throughout the state. Currently there are 36 projects on the waiting list representing a proposed investment in the RI economy of more than $275 million. Money can still be allocated to projects on the waiting list.
Rhode Island is surrounded by states with established and well-funded programs - let's not give up this competitive advantage to our neighbors!
Preserve Rhode Island has worked actively in 2019 with partners and legislative advocates of the Historic Tax Credit to provide new funds to this critical program.
The State Historic Tax Credit program was extended and is now scheduled to sunset on June 30, 2020. PRI will continue to work towards further extensions beyond 2020.