by
A Major Victory for Historic Preservation in California – Extending California’s Historic Rehabilitation Tax Credit Through 2031
New law extends California’s Historic Rehabilitation Tax Credit through 2031 and strengthens a critical tool for adaptive reuse, housing, downtown revitalization, and reinvestment in historic places.
Preservation as a Tool for California’s Future
AB 1265 does more than continue an existing preservation program. It more closely connects historic rehabilitation with some of California’s most pressing housing and economic-development needs.
Historic rehabilitation projects frequently face financing gaps because of the added costs involved in adapting older buildings for contemporary use. By helping close those gaps, rehabilitation tax credits can make otherwise infeasible projects possible—creating housing through adaptive reuse, revitalizing downtowns and neighborhood commercial districts, supporting construction activity, and returning vacant or underused buildings to productive use… (more)