Offered by 34 states, historic tax credits (HTCs) are incentives for certified rehabilitations of qualifying historic properties. Effective state programs increase the use of the federal historic tax credits; one study indicated a boost on average between $15 million and $35 million in certified expenditures anually. Hear how state historic tax credits fill a critical financing gap in rehabilitation projects from Johan Graham, director of development with AU Associates in Lexington, Kentucky. Learn how some states are making the credits refundable and the implications for commercial and residential property owners from Harry K. Schwartz, author of “Refundable State Tax Credits for Historic Rehabilitation.” Finally hear how Ohio’s successful historic tax credit program measures the return on the state’s investment and bi-annually offers one “mega-credit” from the program’s manager, Nathaniel Kaelin.