Ask most preservationists what they think of Virginia’s Rehabilitation Tax Credit Program, and you’ll hear them proudly say it’s one of the most generous, if not the most generous, programs in the country, leading to the rehabilitation of thousands of historic properties. Indeed, since the program’s inception in 1997, the state has awarded nearly $700 million in tax credits to homeowners and developers.
“This is free money,” writes Charlottesville architect Brian Broadus, who has specialized in historic building projects for over 20 years. “Why don’t more homeowners come and grab it?”
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