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The Kentucky Heritage Council's (KHC) Site Development Program oversees State and Federal Tax Incentive programs to encourage the protection and rehabilitation of historic properties listed in (or in some cases, eligible for) the National Register of Historic Places.
Site Development staff's review and responsibilities aid a wide range of applicants, including home-owners, farms, local governments, and even non-profit and tax-exempt organizations. Learn more about how the Site Development Program offers Economic Impacts and Benefits to Kentucky!
The Site Development team also devotes time to educational outreach, consultations, and research efforts associated with these programs, as well as spending time to promote and provide resources on the appropriate treatment of historic resources.
There are two programs within KHC's Site Development purview, which serve as voluntary tax incentives for property owners to maintain and protect historic properties into the future. These programs are:
Historic Rehabilitation Tax Credits are voluntary, financial incentives to encourage private investment in historic properties. Historic Rehabilitation Tax Credits offer a dollar-for-dollar credit on income taxes owed by the historic property owner, based on the Qualifying Rehabilitation Expenses
An easement is a legal agreement that assures a property’s historic character will be preserved into perpetuity, by placing restrictions on development or changes to a property or historic site and then transferring these restrictions to a qualified organization charged with ensuring protection and enforcement of the restrictions
Historic tax credits have proven to be one of the nation's most successful and cost-effective community revitalization tools - creating jobs, leveraging private investment, enhancing property values, and returning underutilized properties to tax rolls.
Katie WilbornSite Development Program Administrator