2003-03-12 CC Packet - Laserfiche WebLink

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" " M07m4 111&., in C01JjuflCtitm flJitlJBelton- McGhee Associates, restoretl tIJe 1919 'WIJiteltJfJJ Hotel in War!JilIgton, D.C., J!!'igi1l4~1mJJt-ktmtJ !Jy Africon~, ' AmerictnJs, to provitk lJousittgfor low.. income I_Jiis. - ," J'~-'\ f' rehabilitated since the program began and nearly 63,000. units newly created. A substantial numbeJ' of these u~ts have been for us~ by low- and moder- ate-income households. -- What BuiltJi1t&r Qualify? The rehabilitation credit is available , for historic and nonhistoric buildings, but only if they are used in a trade or business or held for the production of income. Buildings eligible for the 20 percent rehabilitation credit include those used for rental residential as well as nonresidential purposes, while build- ings e~igible for the 10 'percent rehabili- tation credit must be nonresidential, commercial, or industrial buildings. CertUied Historic Structures To'qualify for the 20 perce~t rehabili- tation credit, a building must be a "certified historic strUcture." A cerci- ' fied historic strUcture is one that is: ~ j .j A registered historic district is any district that is: III listed in the National Register of Historic Places; or IB designated under a state or local statute certified by the Secretary of the Interior as containing criteria that will substantially achieve the purpose of preserving and rehabili.,. tating buildings of significance to the district 'a11d that is certified as substantially meeting lIll of the requirements for the listing of districts in the National Register. The National Register of Historic Places is' maintained by the U.S. Dep- artment of the Interior. It includes individual buildings and sites as well as historic districts. It is estimated that the National Register contains some 63,000 listings which encompass in excess of 700,000 buildings. Proper- ties qualifying for National Register . listing must meet one or more of four broad criteria (see box, page 9). IliI listed individually in: theNationat.::..,..\'t;"To nominate an ipdividual propertylYr Register of Historic Places; or historic district for listing, a nomina- tion form is submitted for review to the state historic preservation offic~r (SHPO) appointed by the governor of each state. After review and approval ~t the state level, the nomination is e II located in a "registered historic district" and certified by the Secre- tary of the Interior as being of historical significance to the district. forwarded to the National Park Service in the D~partment of the Interior for review and listing. ' A building,with~ a fisted historic district is accorded certified historic . structure designation through the submission of "Part 1" of the Historic Preservation Certification Application. This form is available from SHPOs and the National Park Service. After review by the SHPO the application is forwarded to the Nation$! Park Service for final approval. If a pr~perty is indiyidually listed in the National Register, it is already a certified historic structUre and it is nQt ~ necessary to complete Part 1 of the Historic Preservation Certification Application. If the certification request is fot a building not yet listed in the National Register or for a building in a potential historic district, the Part 1 form will, be reviewed to make a preliminary determination as to whether the building may qualify for cCrtified . ,",,:tF ,- historic status when and if the property is listed in the National Register. Such determinations are not binding anq. become final as of the date of listing in the National Register. II