Tell Gov. Christie to sign the NJ Historic Property Revitalization Act!

Ron Emrich of Preservation New Jersey has something to crow about!  After a dozen years of lobbying, his long-held dream is now within his grasp–the creation of a New Jersey historic homeowner tax credit.

The New Jersey Senate voted 38 to zero yesterday in support of the bill called the Historic Property Revitalization Act. The approved bill will reach Governor Christie soon, and he needs to know how important this legislation is to the preservation community in the state.  Contact the Governor and urge him to sign it.

Contact Governor Christie via snail mail

Office of the Governor
PO Box 001
Trenton, NJ 08625
609-292-6000

There is a contact form with drop down features on the Governor’s web site. Make sure you reference the Historic Property Revitalization Act.

Still better, please make a phone call to the switchboard.

While you are at it, please THANK  your own Senator or Assembly person if they voted for the bill or were co-sponsors of their respective pieces of legislation. Ron Emrich has a list of these people on the PNJ web site see it here.

Preservation New Jersey has the following information about this bill on its website.

“The Act will provide homeowners and corporations with an economic incentive to help revitalize older neighborhoods and historic downtowns, create thousands of skilled jobs and reuse historic structures by providing a State tax credit for their rehabilitation. Similar tax credit programs in 29 states, such as Maryland and Rhode Island, have generated net tax revenue to the state (see Rhode Island’s analysis at www.growsmartri.com/tax.html).

The historic rehab tax credit is an especially effective Smart Growth economic development tool to help restart investment in the housing market! The program would be administered by the New Jersey State Historic Preservation Office, which already certifies projects for a similar federal historic tax credit for income-producing properties. The New Jersey Heritage Development Coalition, including Preservation New Jersey, is advocating for this proven economic stimulus tool. See up to date news at www.njheritagedevelopment.wordpress.com.
1. HPRA Description [pdf]>>
2. Three case studies applying the tax credit to theoretical preservation projects [pdf]>>

What Will It Do?

Promote Smart Growth: The recently re-adopted New Jersey State Development and Re-Development Plan embraces the idea that in order to provide sustainable communities in New Jersey, development and re-development must occur around designated centers, where the vast majority of our historic structures are found. Taking advantage of existing building stock reduces urban sprawl, preserves green space and reduces landfill waste.

Foster Community Revitalization and Heritage Tourism: Many historic buildings, both residential and commercial in nature, are located in older urban areas in need of economic revitalization. Rehabilitated properties will foster more rehabilitation, revitalizing neighborhoods, increasing property values, stimulating the local economy and tourism through creation of jobs, and result in more employment opportunities associated with income-production activity. Studies have shown that more revenue is returned to the New Jersey Treasury than is given in tax credits as a result.

What Is The Credit?

A taxpayer would be allowed a credit against his/her personal income tax OR a business would be allowed a credit against its corporate business tax of 25 per cent of the costs of a completed rehabilitation. Taxpayers not able to use the credit would be able to transfer it.
What Buildings Qualify?

A qualified historic building is one that is listed individually or within a district on the State or National Registers of Historic Places or within a locally designated historic district and contributing to the district’s significance, and must be certified by the State Historic Preservation Office.
How Does a Project Qualify?

A qualified individual or entity must own or have a qualifying long-term lease on the structure. The structure and rehabilitation work must be certified by the State Historic Preservation Office and the work must be done in conformance with the Secretary of Interior’s Standards for Rehabilitation. The project must be considered a substantial rehabilitation.

This is a major achievement for Ron Emrich, who has worked for more than eight years to get this bill passed. Let’s help him get this DONE. Call the Governor.

For more information about the bill contact Preservation New Jersey–note new address below.

Preservation New Jersey
310 W. State St.
Trenton, NJ  08618 NEW ADDRESS

PHONE: 609-392-6409
FAX: 609-392-6418
Email: info@preservationnj.org