The “winners” created by historic rehabilitation tax credits [[HTC) are often blighted, polluted and economically challenged communities where the cost of development can’t compete with greenfield communities bootstrapping their subsidized roads and other infrastructure to attract new growth. The HTC levels the playing field while at the same promoting sustainable, green development, creating more construction jobs than greenfield projects, and slowing harmful sprawl. The new tax revenue generated by HTC projects exceeds the tax expenditure cost to the government. The program is a classic win/win.
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