HDC has concluded its annual National Register Support for Communities of Color Fellowship in the Stuyvesant Heights Extended Historical District. The Historic Homeownership Rehabilitation Tax Credit Program offers a state income tax credit equal to 20% of Qualified Rehabilitation Expenses (QREs) associated with repair, maintenance, and upgrades to historic homes. The homeowner program offers a state tax credit equal to 20 percent of the rehabilitation costs, up to $50,000 in credits.
During these past five months, our two fellows, Eileen Michaud and Dana DeBari, have documented different types of buildings in the historic district, created a Certification Report emphasizing the district’s historic significance, and have engaged the community to explain the benefits of Historic Tax Credits.
This is what our fellows had to say about the experience:
“This project is exciting because it will give property owners, especially intergenerational Black homeowners, additional financial incentive to invest in their historic properties and maintain the community cohesion of Stuyvesant Heights.” – Eileen Michaud
“It was a wonderful experience working with Brooklyn Community Board 3 and the Landmarks & Preservation Committee to ensure that our descriptive narrative and fieldwork truly aligned with the broader Stuyvesant Heights community. It is a privilege to have worked on this project with the goal of allowing more historic properties to be maintained collectively through improved access to historic tax credits.” – Dana DeBari
HDC has also crafted a “Frequently Asked Questions” document to address any questions you may have about utilizing the tax credits once your neighborhood is certified.
If you or your community group is interested in learning about the process of Historic Tax Credit certification and if your neighborhood qualifies for it, please contact our Advocacy & Outreach Manager at [email protected].
This fellowship is made possible by a generous grant from the Lily Auchincloss Foundation.
