These HTCs are equal to 10% of “qualified rehabilitation expenditures” (“QREs”) with respect to non-historic buildings placed in service before 1936 but are not listed on the National Register of Historic Places.
Renovation plans under this program do not have to comply with the Secretary of the Interior’s Standards.
The building must be rehabilitated for non-residential use.
The rehabilitation must meet three criteria: (a) at least 50% of the existing external walls must remain in place as external walls; (b) at least 75% of the existing external walls must remain in place as either external or internal walls; and (c) at least 75% of the internal structural framework must remain in place.
