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The Contributions of Historic Preservation to Housing Development: Past, Present, and Future Prospects.

Date and time: 
January 15, 2010 - 12:00pm - 1:30pm

Presenter: Greg Donofrio, Assistant Professor, U of M School of Architecture

Historic preservation programs and financial incentives have become widely accepted tools for community development and economic revitalization. Older and historic properties are now commonly rehabilitated or adaptively reused to create both market-rate and affordable housing. Beginning with a brief introduction to the regulations and tax policies that make these projects economically feasible, Greg Donofrio will then present an illustrated series of recent historic preservation housing case studies from New York State, Pennsylvania, and Minnesota. Although for-profit and nonprofit developers have become increasingly adept at combining federal, state, and local tax incentives (including Historic Rehabilitation Tax Credits and Low Income Housing Tax Credits), significant challenges remain with respect to meeting historic preservation design standards and closing gaps in project financing. This presentation offers a critical evaluation of the historic preservation and housing nexus, with a final emphasis on how and why the State of Minnesota should enact legislation to enhance the viability of older and historic building rehabilitation.

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