Translate
Facebook
Twitter
Instagram
LinkedIn
Soundcloud

HISTORIC PROPERTY REINVESTMENT PROGRAM


The Historic Property Reinvestment Program is a $50 million competitive tax credit program to leverage the federal historic tax credit program to support transformative rehabilitation projects of identified historic properties.     

ELIGIBILITY

To receive tax credits through the Historic Property Reinvestment Program, a project must:

  • Rehabilitate a property listed on National Register of Historic Places, approved by State Historic Preservation Officer, or designated historic through a municipal ordinance.    
  • Create an income producing property.
  • Demonstrate that a project financing gap exists. 
  • Include developer who has an equity participation of at least 20 percent. 

AWARD SIZE

Eligible projects can receive tax credits worth 40 percent of total costs up to a project cap of $4 million.

FISCAL AND RESIDENT PROTECTIONS

In order to receive support through the Historic Property Reinvestment Program, the project must be in good standing with the NJ Department of Labor, NJ Department of Treasury, and the NJ Department of Environmental Protection.

The full statutory text of the program can be found in sections 2 – 8 of the Economic Recovery Act of 2020. 

rate_review

WE WANT TO HEAR FROM YOU


Please use our public feedback tool to share your thoughts on how NJEDA can best implement the Economic Recovery Act

Submit feedback