At 95 years old, William “Bill” Murtagh, a founding father of the modern historic preservation movement in America, passed away on October 28. Our profession owes a great deal to Murtagh’s scholarship and leadership in the formation of current principles that guide many aspects of preserving our nation’s historic resources, including the process of review for historic tax credits.
The National Park Service and Rutgers University have released the Annual Report on the Economic Impact of Historic Tax Credits for FY 2017. Once again, the findings show the strength of the federal historic tax credit program in stimulating investment and communities and job creation.
The U.S. Department of Housing and Urban Development (HUD) and the Advisory Council on Historic Preservation (ACHP) today announced Chicago’s Rosenwald Courts Apartments project, once home to record producer Quincy Jones, boxer Joe Louis, and Olympian Jesse Owens, as the recipient of the 2018 ACHP/HUD Secretary’s Award for Excellence in Historic Preservation.
MacRostie Historic Advisors LLC (MHA) is pleased to announce the opening of a new office in New Orleans, Louisiana. Established industry professionals and former co-owners of the New Orleans-based historic preservation firm Clio Associates, Gabrielle Begue and Beth Jacob, will be joining as senior associates, and managing MHA projects in and around Louisiana.
On June 13, the ULI Chicago celebrated the winners of their annual Vision Awards. This year's group included four MHA Midwest projects.
The newly introduced legislation eliminates this requirement, enhancing the credit after uncertainty about investment potential with the change of terms in last year's new tax reform law that required the credit be taken over five years.
In October 2017, MHA opened our sixth office in Houston. In February, Amanda Barry joined director Anna Mod as our associate in Houston. Her long passion for and professional background in historic preservation brings important expertise to the fast-growing historic rehabilitation industry in Texas and beyond.
Reviews of the new tax reform bill have been mixed. Historic tax credits were retained, but the terms of claiming the credit changed. Other tax incentive programs were modified or done away with entirely. Depending on whom you ask, these changes can be positive or negative.
Housing affordability is a problem across the country. In fact, one National Low-Income Housing Coalition study found that in 2017 there was no state that is untouched by this issue.