You have to be the owner of the building to get a federal historic credit.
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Other related community-development tax credits, such as the Clinton era New Markets credit and the older Historic Preservation credit, would also be in jeopardy.
Maybe there is a better way to compensate people for keeping the beautiful exteriors of classic buildings intact as they are adapted to different uses, but the historic tax credit is one of the ways we do it.
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Developers have enjoyed a federal income tax credit for historic rehabilitation of commercial properties since 1981, and nine states have similar credits for commercial restoration projects.
Why is there a credit for renovating historic buildings ?
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But with yields on ten-year Treasurys stuck near a skimpy 4.2% and credit spreads tight compared with historic norms, this has not been a happy time for fixed incomes.
Shocks are still likely: for instance, the size of the bubble and scale of the bust may overturn historic relationships such as that between unemployment rates and credit-card losses.
What started in the subprime mortgage bond market earlier this year is filtering into the broader credit markets, but the nervousness is less a sign of deteriorating credit quality--defaults are at historic lows of 0.3%, according to Coffey--and more an oversupply issue.
Some states also extend the credit to homes listed on state and local historic property registries.
An accommodative monetary policy would involve keeping the fed funds rate (the short-term rate at which banks lend to each other) at historic lows so as to encourage consumption and provide cheaper credit to consumers and businesses.
The drop may seem counter-intuitive due to the better-than-expected GDP figures, but Hogan said the relationship between bonds and stocks is skewed from historic norms because bonds already so low due to disruptions in the credit markets emanating from the U.S. subprime crisis.
Since then credit-card delinquency rates have been rising steadily but remain well below the historic average.
Ms. TAYLOR: Not a Democrat, but it was a historic night for the country and, you know, certainly the Democrats, you have to give them credit.
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