Advocacy
Help Save RI's Historic Tax Credit!
State Historic Tax Credit projects generate much needed housing, revitalize neighborhoods, restore our environment, and improve Rhode Islander’s quality of life. Tell RI's elected officials to put Rhode Island on a level playing field with neighboring state’s Historic Tax Credit Programs!
Fair House (Warwick) is used by House of Hope to provide 10 units of affordable housing.
As the only statewide advocate for Rhode Island's historic places...
Preserve Rhode Island works with individuals and groups to provide advocacy and technical assistance at the local, regional, and statewide level. From homeowners to community groups to preservation and conservation partners - Preserve RI is working hard to protect Rhode Island's unique and historic places.
Learn about our advocacy work and what you can do by clicking the links below:
Fixing the State Historic Tax Credit
The state Historic Tax Credit program is likely the best community development tool Rhode Island has ever created. Since 2002, state Historic Tax Credits have catalyzed investments in 320 buildings across Rhode Island, leveraging more than $2.12 billion in total investment in our communities. Previously abandoned mills, schools, commercial buildings in historic downtowns, and iconic landmarks have all been revitalized by private development projects that were catalyzed by the program. Perhaps most importantly, it is a crucial tool in solving Rhode Island’s housing crisis. Approximately 20% of all new housing units, including 20% of all new affordable housing units, have been generated by projects receiving the state’s Historic Tax Credit.
Unfortunately, this vital program is broken due to a lack of funding, onerous fees, and impractical rules and restrictions. Meanwhile, our neighboring states are investing heavily in their state Historic Tax Credit programs, realizing the important role they play in creating new housing and jobs, and spurring investment. We are calling on state leaders to meet with developers, union leaders, preservationists, smart growth advocates, and other stakeholders to work out a solution. The ways to fix Rhode Island’s Historic Tax Credits are obvious, what is required is political will.
Reforming the Federal Historic Tax Credit Program
As you know, we've been advocating for reforms to Rhode Island's Historic Tax Credit (HTC) program. We are still hopeful that meaningful changes to the program will be made in this legislative session. In addition to reforms needed at the state level, the National Trust for Historic Preservation, Preservation Action, and other national organizations have been lobbying for changes to the Federal HTC program. Like our state program, the Federal program's incentives have been diluted over the years. Bipartisan legislation has been introduced in both the House and Senate to address this, bringing more value to the Federal HTC, making the credit easier to use and encouraging smaller projects and projects in rural areas.
The Federal HTC program has served as a cornerstone for community revitalization efforts throughout the nation for more than forty years. The HTC is the most significant financial investment the federal government makes toward the rehabilitation and reuse of our nation’s historic buildings. To date, the credit has preserved more than 50,000 properties in every state leveraging more than $235 billion in private investment. Most historic rehabilitation projects in Rhode Island rely on both Federal and State HTCs to make the financing of these projects viable. Encourage your U.S. Senators and Representative to support these reforms to the Federal HTC program by co-sponsoring the HTC-GO Act.