Page 21 - Vol46-No01-Spring-2023-inLeague

A
E
R

L

A
J JAMES EARL JONES THEATRE E
M
S
E
J
E
H
A
R
T
T
N
O
E

S

Y
W
N NEW YORK, NY Y
E
O

N
,
R
K
Federal and State Tax Credit-Based Equity Investment A BROADWAY LEGEND
The Historic Tax Credit (HTC) encourages private sector investment in the rehabilitation and reuse of historic
buildings. The HTC program is formally known as the Federal Historic Preservation Tax Incentives Program. The
HTC program is administered by the National Park Service and the Internal Revenue Service (IRS), in partnership H e l p i n g C l i e n t s N a v i g a t e
Helping Clients Navigate
with State Historic Preservation Offices (SHPO) located in each state, the District of Columbia, and the U.S.
i
d
t
g

e

x
a
r
C
c
F
i
i
a
n
n
n

territories. Each individual state may also have its own tax credit program. T Tax Credit Financing
Tax credits can be utilized by for profit and nonprofit entities. However, the process can be very confusing, and
we strongly recommend you enlist the services of a professional who knows how to navigate the program.
Although the amount of money you can generate from tax credits changes based on legislative priorities, it Closed over $900 MM of Projects
is possible for a significant portion of your project could be financed through State and Federal Tax Credit o Federal Historic Tax Credits
Programs. o State Historic Tax Credits
You can learn more about State Tax Credits through your State’s Historic Preservation Officer (SHPO). Find your o New Markets Tax Credits
SHPO here.
You can learn more about Federal Historic Tax Credits Here. Specialty in Historic Theatres
Support throughout Compliance Period
LHAT currently has Allied Members who specialize in tax credits. You can contact them at: 35 Years of relevant experience
BakerHostetler Plymouth Soundings, LLC
Contact Information: Alexander Szilvas, Partner Contact Information: Darlene (Dee) Smolik, President Darlene “Dee” Smolik
Key Tower, 127 Public Square, Suite 2000 213 Coyatee Shores, Loudon, TN 37774 President
Cleveland, OH 44114-1214 ds@plymouthsoundings.com Tel: 865-254-4343
aszilvas@bakerlaw.com (865) 254-4343 ds@plymouthsoundings.com
(216) 861-7883 http://www.plymouthsoundings.com/
http://www.bakerlaw.com
PAGE 18 | INLEAGUE League of Historic American Theatres May 2023 INLEAGUE | PAGE 19