Moments ago the Senate Committee on State Government, Tourism, Gaming & Historic Preservation passed the historic tax credit bill, S659.  It now moves to consideration by the Senate Budget Committee, which we hope will occur soon – perhaps as soon as next week.  Our thanks to prime sponsor in the Senate, Sen. Barbara Buono, for her leadership in moving the bill ahead.

Please call your Senators to indicate your support for HPRA.

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The New Jersey General Assembly’s Appropriations Committee yesterday reported the Historic Property Reinvestment Act (HPRA) with  two minor amendments.  This means the long sought historic tax credit bill will move forward to the floor of the Assembly.  No date for a vote has been set.  Meanwhile, the Senate has yet to take up the bill (S659).  Sen. Jim Whelan’s (Atlantic City) State Government, Tourism, Gaming and Historic Preservation Committee will first need to hear the legislation.  Preservation advocates and supporters of job creation and economic revitalization are urged to contact Sen. Whelan, as well as prime bill sponsor Sen. Barbara Buono, to urge them to move HPRA forward.

The Assembly Appropriations Committee vote:
Pou, Nellie (C) – Yes
Addiego, Dawn Marie – Abstain
Barnes, Peter J., III – Yes
Chivukula, Upendra J. – Not Voting
Conaway, Herb, Jr. – Yes
DiMaio, John – Abstain
Greenwald, Louis D. – Yes
McKeon, John F. – Yes
Peterson, Erik – Abstain
Stender, Linda – Yes
Thompson, Samuel D. – Abstain
Vainieri Huttle, Valerie – Yes

 

Guest author:  William Hoffman, Esq., CityScape Capital Group

Don’t let your historic property vanish into history! Industry professionals will explore creative financing options and tax incentives for financing your project, as well as give insight on the current historic preservation marketplace at the “Making Cents of Historic Preservation” conference on October 19th at Rutgers University in New Brunswick, New Jersey.

– Speakers will highlight the current climate for historic preservation
– Hear the latest tips on financing options and tax incentives for historic preservation
– Topics: Federal Rehabilitation Tax Credits, Easements, New Market & Renewable Energy Tax Credits
– Insider updates on the industry, State Historic Tax Credit legislation and more.
– Network with multi-state professionals

This conference will provide immediately useful information for project owners, developers, lenders and preservation professionals, including historic site managers, attorneys, architects, consultants and accountants dealing with preservation projects and related investments.  NJ CLE application pending and AIA members may earn Learning Units by submitting a self-report.

Please send email to Beth Beatty (Beth@PreservationEasement.org) or call 609-524-4044 for additional information. Your $50 registration fee (students $20) includes all conference workshops and lunch. Fax completed registration forms to 856-795-9722; you may pay by check/cash at the door.

The Historic Property Revitalization Act, to make New Jersey the 31st state to offer a powerful historic rehabilitation tax credit to spur job creation and desperately needed economic growth, has been re-introduced in the 2010 New Jersey Legislature.

Lead sponsors Sen. Barbara Buono (Middlesex) and Asym. Reed Gusciora (Mercer), long champions of the Historic Property Revitalization Act (HPRA), are heading efforts to get the legislation enacted, after several years of opposition from former NJ Governors.  Now, with the need for private investment, skilled jobs and community revitalization greater than ever, and a new Governor who supported HPRA during the fall election campaign, the historic tax credit legislation is poised for success!

To learn more and get involved, visit Preservation New Jersey’s “Take Action” webpage.  Ask NJ Assembly members and Senators to co-sponsor the bill (S659, A1851)