News from the National Trust for Historic Preservation:

Washington, DC (November 17, 2004) – Reps. Rob Portman (R-OH) and William Jefferson (D-LA) today introduced the Community Restoration and Revitalization Act, a bipartisan bill that would improve the existing historic preservation tax credit (rehab credit) for the restoration and rehabilitation of the nation’s vacant and underutilized historic buildings. The bill was developed by the National Trust for Historic Preservation in close collaboration with preservation organizations, developers, tax credit users, the financing community, and endorsed by the American Institute of Architects.

The rehab credit is the nation’s largest federal incentive that promotes urban and rural revitalization through private investment in reusing historic buildings. It has attracted private capital to historic areas of cities and towns, generated thousands of jobs, strengthened property values, created affordable places to live, and increased revenues of state and local governments.

The Community Restoration and Revitalization Act is a package of amendments that would further the mission of the rehab credit by spurring greater investments in smaller commercial projects and Main Street commercial properties in older neighborhoods – particularly where there is a critical need for affordable housing and community revitalization. Continue Reading the Press Release

Please write your Representative to cosponsor the “Community Restoration and Revitalization Act.” Visit this webpage if you would like to send a pre-written letter (which you can edit) via email to your Representative.

Visit the National Conference of State Historic Preservation Officers for more information on the “Community Restoration and Revitalization Act.”