Rethos: Places Reimagined partners with owners and developers of historic buildings to make the most effective use of both Federal and State historic tax credits. Federal and state tax credits exist in order to partially offset some of the additional project costs associated with reusing an existing building as opposed to demolishing it and building a new one – but how do they actually work?
A recent article in MinnPost and a podcast from PreserveCast help explain complicated concepts like the “time value of money” and capital stacks. And they explain why programs like Rethos Historic Rehabilitation Loans are helpful to property developers who need to maximize the available cash to get rehab construction projects off the ground.
For more information about our Historic Rehabilitation Loan Program,
Rethos advocates for extending and enhancing state historic tax credits to rehabilitate historic sites. By teaming up with a nonprofit organization like Rethos, these projects become financially feasible, thereby preserving important, useful, and beautiful older buildings and keeping them out of landfills. The revenue generated provides necessary funding for our programs in education, Minnesota Main Streets, and so much of the work we do every day.