New Jersey Heritage Development Coalition

How it will Work

A qualified individual or entity must own or have a qualifying long-term lease on the structure.

Building must be listed individually or within a district on the State or National Registers of Historic Places or within a locally designated historic district.

The project must be considered a substantial rehabilitation.

The structure and rehabilitation work must be certified by the State Historic Preservation Office and the work done in conformance with the Secretary of Interior’s Standards for Rehabilitation.

HPRA:

• Allows a credit on state income or corporate business taxes of 25% of the qualified costs of a historic rehabilitation
• Parallels federal historic preservation 20% tax credit, creating more commercial development opportunities
• Useful for both residential and commercial property, developers and homeowners (combined with federal credit for income producing properties only)