Grant Opportunities for Your Property
Federal Rehabilitation Tax Credit
To encourage the preservation of historic buildings the federal government offers a program of tax incentives to support the rehabilitation of historic and older buildings for income-producing purposes.
The AHPP serves as the state liaison between the property owners and the National Park Service, the federal agency that administers the federal Rehabilitation Tax Credit program. The main goal of the AHPP and NPS will be to:
- determine if the structure in question is a “qualified historic property”
- provide a technical review based on the Secretary of the Interior’s Standards for Rehabilitation on the proposed work planned for the historic structure and
- approve the final work by the owner to the historic property.
Anyone interested in pursuing the credit should consult an accountant, tax attorney other professional tax advisor, legal counsel, or the Internal Revenue Service for help in determining the tax and other financial implications.
For more information from the AHPP about the federal Tax Rehabilitation program click here to download the PDF file.
State Rehabilitation Tax Credit
A state law passed in 2009 allows Arkansans to claim a portion of their investment in historic properties as a credit on their state income taxes. This new program, administered by the Arkansas Historic Preservation Program (AHPP), will encourage the rehabilitation of historic properties and will foster revitalization efforts in Arkansas’s historic downtowns and neighborhoods. For more information and guidance visit the Arkansas Historic Preservation Program’s site.
Main Street Eureka Springs Grant Program
Starting in 2016, Main Street Eureka Springs, in partnership with Main Street Arkansas began offering matching funds for projects within the district that would enhance the properties and preserve the structures. Applications for the 2017 fiscal year will available in August of 2016.