The AHPP administers federal and state historic
rehabilitation tax credit programs to encourage the preservation and
rehabilitation of historic buildings by way of a credit on the owner's federal
and/or state tax liability.
The Federal Rehabilitation Tax Credit Program allows owners to recoup 20 percent of the costs of renovating a historic building by way of a credit on their federal income taxes.
To qualify the property must be individually listed on the National Register of Historic Places or contributing in a NR Historic District and be used for income-producing purposes.
An Arkansas law passed in 2009 created a State Rehabilitation Tax Credit Program, which is very similar to the federal tax credit.
Always contact the AHPP before starting work on a tax credit project.
Since 2004, attorney Paul Dodds and Urban Frontier have invested more than $1.4 million rehabilitating historic properties in the Central High School Neighborhood Historic District.
As of July 2012, the company has rehabbed nine home, creating a total of 17 rental units.
For pictures of the properties and full interview watch the full video.