Report Ordered on Historic Building Tax Credits: Could It Unlock More Housing?

Congress wants a closer look at how the federal government handles tax breaks for fixing up old buildings. This bill directs the Secretary of the Interior to deliver a report within a year, detailing how the National Park Service (NPS) applies its rules—the "Standards for Rehabilitation"—for the Federal Historic Preservation Tax Incentives program. The main goal? Figure out how this program interacts with the push for more affordable housing and identify ways to make it work better.

Digging into the Details: What's in the Report?

This isn't just a quick summary. The required report needs to get specific. It will analyze ten years of data on how applications for these tax credits were processed, including average wait times based on project size and type. It also needs to track how many projects hit snags ('hold notices'), got approved with conditions, were denied, fully approved, or withdrawn.

The core of the report, though, is about improvement. It must pinpoint ways to tweak the Standards to help developers create affordable housing while still respecting historic preservation goals. Think converting old factories or office buildings into apartments. The report will explore how NPS guidance could be updated to specifically address challenges like converting non-residential spaces, cleaning up environmental hazards, making buildings energy-efficient, improving accessibility, and removing other roadblocks developers face.

Old Buildings, New Uses: Balancing Preservation and Practical Needs

Essentially, this legislation asks: how can we make preserving historic character compatible with modern needs, especially housing? The report must detail issues users have run into, particularly on affordable housing projects, and explain how the NPS gathers and uses feedback. It also examines whether the NPS has the resources to keep its guidance up-to-date.

Recommendations are key here. The report needs to suggest updates to the Standards and how the NPS implements them. This includes making the program mesh better with affordable housing development, protecting historic sites from climate change risks, and considering the 'economic and technical feasibility' of projects. This feasibility aspect could mean more flexibility for developers, but might also raise questions for preservation purists about how much alteration is acceptable when adapting historic structures for new uses like housing.