Historic Rehabilitation Tax Credits

NDC provides development assistance and in some cases equity to projects involving Historic Rehabilitation Tax Credits (RTCs).  NDC can guide owners and developers through the National Park Service (NPS) requirements, and assist with other RTC issues including meeting the substantial rehabilitation test, determining qualified rehabilitation expenditures, and avoiding disqualification under the tax-exempt use rules.  NDC has assisted many organizations which initially believed they would not be able to take advantage of the RTC to benefit from the program by successfully structuring the project to meet IRS requirements and securing an investor.

Grand Union Hotel

Ft. Benton, MT

The Grand Union Hotel in Ft. Benton, MT, was one of the first historic tax credit projects funded through the NDC Corporate Equity Fund. Built in 1882, seven years before Montana became a state, the Grand Union was constructed on the banks of the upper Missouri River when the West was wild and rivers connected the country. The Grand Union closed its doors in the mid-1980s after a century of service. Working with the Bear Paw Development Corporation, a non-profit organization created to improve the economic conditions in the region, NDC helped secure financing and tax credit equity to fund hotel renovations. Listed on the National Register of Historic Places, the Grand Union, Montana’s oldest operating hotel, re-opened in 1997. Today it provides elegant accommodations for guest following the historic trail of Lewis and Clark.

The Northern Hotel

Ft. Colllins, CO

The Northern Hotel sits on the leading edge of the Old Town Ft. Collins Historic District. Having suffered a major fire in the 1970s, the building sat partially condemned for nearly a quarter of a century. But because of its location, prominence and eligibility for the Nation Register of Historic Places the City of Fort Collins, CO, was reluctant to demolish the building even though every redevelopment plan failed to “pencil out."

READ MORE