PRESERVATION PAYS!: CHENEY HS REHAB PROJECT SPOTLIGHTED IN ANNUAL NPS REPORT

The National Park Service (NPS) Technical Preservation Services (TPS) has issued its 2018 Annual Report on the Economic Impact of the Federal Historic Tax Credit program. Find the link to the press release here: https://www.nps.gov/orgs/1207/federal-historic-preservation-tax-incentives-generated-7-4-billion-in-gdp-and-129-000-jobs-in-2018.htm.

In addition, DAHP is proud to note that the lavishly illustrated report includes 4 case studies of projects utilizing the preservation tax incentives including rehabilitation of the Cheney High School as the School House Lofts rental apartments for Eastern Washington University stidents. This innovative project created 36 residential units plus amenities such as meeting and recreational spaces. Eastmark Capital Group of Seattle spent $8M for the rehab work and received $1.4M (20%) in tax credits. In fact, the project received an Award for Outstanding Achievement in Historic Preservation in 2018 from State Historic Preservation Officer Allyson Brooks. 

To view the entire report follow this link: https://www.nps.gov/tps/tax-incentives/taxdocs/economic-impact-2018.pdf. Also, hard copies of the report are available from DAHP by emailing Greg.griffith@dahp.wa.gov or calling 360-586-3073.