The New Jersey Economic Development Authority’s (NJEDA) Historic Property Reinvestment Program is now accepting applications for Regular Projects through August 15, 2022. This is a $50 million competitive tax credit program to leverage the federal historic tax credit program to support rehabilitation projects of identified historic properties.
Projects must meet the program’s definition of Rehabilitation Project and must include the rehabilitation of a Qualified Property.
A Rehabilitation Project is defined as a specific construction project or improvement or phase of a project or improvement undertaken by a business entity that includes the rehabilitation of a qualified property, or transformative property.
A Qualified Property is defined as a property located in the State of New Jersey that is an income producing property, and that is:
- Individually listed, or located in a district listed on the National Register of Historic Places, the New Jersey Register of Historic Places, or the Pinelands Commission; OR
- Individually identified or registered, or located in a district identified or registered, for protection as a significant historic resource by a municipality in accordance with criteria for identification or registration that has been approved by the Officer as suitable for substantially achieving the purpose of preserving and rehabilitating buildings of historic significance within the jurisdiction of the municipality.
If located within a district the property must be contributing to the historic significance of the district.
The application deadline is August 15, 2022 at 2:00 p.m.
