Historic tax credit investments provide incredible opportunities to those working to revitalize neighborhoods and business districts.
What are historic tax credits?
Historic tax credits are tax reductions that federal and state governments offer private investors and developers to preserve historic structures.
Our commitment
Since November of 1999, Bank of America has invested more than $120 million in historic tax credit properties. We invest in historic developments, including rental housing, commercial, retail and mixed-use developments benefitting low- and moderate-and targeted areas.
The Tax Reform Act of 1976 created the first federal tax incentives for the preservation of historic buildings. Read the press release, issued on the silver anniversary of the act, celebrating the revitalization success of this legislation.
Financing at work
Renovation of Pier 1 in San Francisco was accomplished using historic tax credits.
Renovation of Pier 1 in San Francisco was accomplished using historic tax credits.