A state tax credit program that would be available to both historic and non-historic buildings to revitalize downtowns, reimagine suburban office campuses, and repurpose at-risk assets across the state is the most effective solution to address the problems of building activation, vacancy, and potential disinvestment. This proposed tool would be beneficial for urban, suburban, and exurban communities, and is particularly impactful to small projects in which federal credits generate too much cost and complication and, critically, for buildings that are not on the National Register of Historic Places. As an added benefit, this proposal also reduces the strain on other local resources such as deferred funding, bonding, grants and TIF.
Rethos is part of the team leading the charge on this six-year program designed to provide assistance to convert vacant and underutilized buildings into spaces that meet today's needs. Sherman Associates Hempel Real Estate
