Immerse yourself in real estate at the PastForward
conference in Savannah this fall. How? Start your real estate experience at PastForward with preservationVenture Trust Live on Thursday, November 13 followed by six Real-Estate Learning Labs, sponsored by The 1772 Foundation
. Why? To learn about Program-related Investments (PRIs), revolving funds, rightsizing, affordable housing, rehabilitation tax credits, the real estate development process, basic debt and equity calculations, deal structuring, and tax incentives, syndication and much more.
Interested? Then sign up for PastForward. And to make the most of your three days in Savannah, take a crack at the following reading list before you arrive. Let’s start with tax credits:
In a Preservation Leadership Forum blog post “The Federal Historic Tax Credit: Transforming Communities
,” Donovan Rypkema, one of the preservation field’s most respected economists and a speaker at the “Beauty vs. the Bottom Line” Learning Lab, summarizes findings from his recent report on the catalytic impacts of federal historic tax credit projects in six neighborhoods in Georgia, Maryland and Utah.
Renee Kuhlman, the National Trust’s director of Special Projects, Government Relations and Policy, delves into several states’ historic tax credit programs and their resulting benefits in her Preservation Leadership Forum post, “Daring to be Different: Innovative Historic Tax Credits
.” Kuhlman will be leading a Power Session on state tax credits in Savannah.
John Leith-Tetrault, president of the National Trust Community Investment Corporation, wrote an article
in the April 2014 Novogradac Journal of Tax Credits that addresses what HTC Revenue Procedure 2014-12 means for twinned Historic Tax Credits (HTC) and New Markets Tax Credits (NMTC). Leith-Tetrault is also quoted in the Next City article “Why We Need the Historic Tax Credit
” in response to House Ways and Means Committee Chairman Dave Camp’s (R-MI) discussion draft of the Tax Reform Act of 2014.
In June, the Treasury Department’s Community Development Financial Institutions Fund announced $3.5 billion in New Markets Tax Credits awards. In her Next City article, “Dear Congress, Here’s Why You Should Stop Holding Up New Markets Tax Credits
,” Cassie Owens highlights how the NTMC program helps community development entities entice investors to projects in urban and rural low-income areas.
Two Learning Labs will examine how historic preservation is used as an effective tool for reshaping and revitalizing America’s Legacy Cities. The Learning Lab “Breathing Life into Legacy Cities” will focus on Newark, NJ, while the “Rightsizing and Creative Class” will explore how placemaking and enticing creative individuals to move to a neighborhood can promote the revitalization of older and historic neighborhoods as the foundation of healthier cities. In her blog post “Regenerating America’s Legacy Cities: A Review from Detroit
,” Emilie Evans looks into a policy report by the Lincoln Institute of Land Policy, “Regenerating America’s Legacy Cities
” and examines the application of several of the report’s recommendations to her own city of Detroit. In “Reimaging, Reinventing, and Revitalizing Legacy Cities
” Brad White explores the “new guidance on rightsizing” in the report “Managing Change: Preservation and Rightsizing in America
” recently published by the Advisory Council on Historic Preservation. You can hear both authors in the “Rightsizing and Creative Class” Learning Lab.
Earlier in the year, Dana L. Saylor-Furman (also a PastForward presenter), blogged
about the Center of Community Progress’ “Placemaking in Legacy Cities: Opportunities and Good Practices” report
, which addresses how many Legacy Cities use placemaking principles to transform their blighted public spaces into community assets.
In “With Demolitions on the Horizon, Milwaukee Preservationists Seek Balance between History & Safety
,“ Edward McClelland examines Milwaukee’s first blight reduction efforts under an $11.6 million blight reduction program, and historic preservationists’ opposition to the mayor’s plan to raze 500 homes.
Also make sure to watch this video from the Michigan Historic Preservation Network about strategic preservation in Detroit.
To learn how PRIs can be used as a tool to enable effective economic development in your communities check out the Learning Lab “Compounding Interest for Historic Preservation Through Program-related Investments,” but before that make sure to read the Livable Cities 2014 report “From Grant to Ground Breaking: Unlocking Impact Investment
The Rockefeller Foundation has released a comprehensive evaluation of its Program-related Investment Fund, conducted by Arabella Advisors, that includes a number of lessons worth sharing
. The 60-page report can be downloaded here
In the “Ask the Experts – Revolving Fund Coaching” Learning Lab you will have chance to learn how to implement historic properties redevelopment programs and how to increase the capacity of existing revolving funds. Many organizations in the US aspire to be like the Netherlands largest organization dedicated to preserving Amsterdam’s urban heritage, “Stadsherstel Amsterdam,” with over 500 buildings in their portfolio. Read their report
for an overview of the organization’s purpose, financial structure and many examples of public-private partnerships they have established to preserve and restore the historical buildings in Amsterdam.
In his Next City article “The Loan Program That’s Keeping Businesses in Uptown Cincinnati
,” Bill Bradley examines Cincinnatis Uptown Consortium, a non-profit development corporation’s new Development Opportunity Fund that offers small businesses in the historic Uptown neighborhood a chance to stay and operate in that neighborhood.
Below are a few more resources for your reading enjoyment. See you in Savannah!
Real Estate Posts from the Preservation Leadership Forum Blog
Real Estate Resources for Forum Members Only
- Addressing Preservation Problems through Targeted Rehab Tax Credits, Elizabeth Byrd Wood
- A Tale of Two Tax Credits—HTC and LIHTC, Caitlin Geary Jones
- Brownfields Redevelopment Tax Incentives for Preservation Projects, Evans Paull
- New Markets Tax Credits: The Other Federal Tax Incentive for Preservation, Anna Klosterman
- Refundable State Tax Credits for Historic Rehabilitation, Harry Schwartz and Renee Kuhlman
- Enhanced Content (open to all)
National Preservation Conference 2013:
Conversation Starter: Preservationists Get Real About Real Estate – A Reading List
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