10% HTCs

• 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.