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March 4, 2014

The Honorable Dave Camp The Honorable Sander M. Levin 341 Cannon House Office Building 1236 Longworth House Office Building House of Representatives United States House of Representatives , DC 20515 Washington, DC 20515

Dear Chairman Camp and Ranking Member Levin:

On behalf of historic preservationists and business people across the country who strive to preserve our nation’s history, we are gravely disappointed the proposal to reform our nation’s tax code repeals the successful and longstanding policy to incentivize the rehabilitation of our historic properties.

Incorporated into the tax code more than 30 years ago, the Historic Tax Credit is a widely used redevelopment tool for inner cities, towns, and rural communities across the country. The credit is the most significant investment the federal government makes to preserve our nation's historic properties. Since 1981, the credit has leveraged $109 billion in private investment, created more than 2.4 million jobs, and adapted more than 39,600 historic buildings for new and productive uses.

President Ronald Reagan praised the program in 1984, stating, "Our historic tax credits have made the preservation of our older buildings not only a matter of respect for beauty and history, but of course for economic good sense." The credit makes economic good sense because it more than pays for itself. Over the life of the program, the IRS has issued $21 billion in tax credits while generating more than $26.6 billion in direct federal tax revenue.

When the Historic Tax Credit was examined by Congress in the lead up to the Tax Reform Act of 1986, tax writers concluded an incentive to rehabilitate historic structures remained justified. The House Ways and Means Committee report reasoned that without the Historic Tax Credit, market forces would drive investment away from more costly rehabilitation and urban cores and toward more predictable new construction in the suburbs.

This justification is as valid today as it was then. Developers, both large and small, report that historic rehabilitation projects would not occur but for the Historic Tax Credit. Without the Historic Tax Credit, which fills a critical financing gap, there will be a halt to the rehabilitation of historic commercial properties in the United States.

A successful reform of our nation’s tax code must retain the Historic Tax Credit. We ask that as this tax proposal is developed in Committee, you identify ways to improve rather than eliminate this much needed program.

Sincerely,

AGW Services, LLC (MD) Office of Historic Historical Comission Preservation Alaska Office of History and California Preservation Foundation Archaeology Campbellsville Renaissance, City of American Continental Group Campbellsville (KY) American Cultural Resources Capitol Places, Columbia, SC Association Carrizozo Works, Inc. (NM) American Institute of Architects Charleroi Borough (PA) Annapolis Cho Benn Holback and Associates Commission (MD) (MD) Annapolis, London Town and South City of Cumberland (MD) County Heritage Area, Inc. City of Frederick (MD) Anne Arundel Historical Society, Inc. City of Greeley Historic Preservation (MD) Commission (CO) Architecture, Inc. (Memphis, TN) City of Sadieville (KY) Preservation Foundation Clark Hill PLC Baitment Historique Restauration Cleveland Restoration Society Baker Hostetler Cohn Reznick City Commission for Preservation, Inc. Historical and Architectural Colorado State Historic Preservation Preservation Office Baltimore Heritage Community Development Associates of Baltimore National Heritage Area Detroit (MD) Concept Design Studio, Inc. (MI) Batesville Preservation Association Conifer Realty, LLC (MD) (AR) Connecticut Preservation Action Bellow Falls Downtown Development Connecticut State Historic Preservation Alliance (VT) Office Benton Historic District Commission Connecticut Trust for Historic (AR) Preservation Bosco-Milligan Consortium Structured Investments Foundation/Architectural Heritage Center (Portland, OR) Corporate Management Group Boston Preservation Alliance Crittenton Hill, LLC (MD) Boulder County Land Use Department Cumberland Downtown (CO)) Development Commission Bowling Green City-County Planning Dade Heritage Trust (FL) Commission (KY) Division of Historical and Breckenridge Heritage Alliance (CO) Cultural Affairs Deming/Luna County Main Street Brian Wishneff &Associates Association (NM) Broadway Historic District Association Department of Archaeology and (IL) Historic Preservation (WA) Bryan Cave LLP DFC Group, Inc. Buchalter Nemer Discover Downtown Middlesboro (KY) Burt Development, LLC (Albany, GA) Discover La Grange (KY)

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DMH Architecture (MI) Heart of Scotsville (KY) Dorchester Historic Preservation Heritage Alliance of NE and Consultants (PA) SW Dorfman Capital Heritage Consulting Group Downtown Cleveland Alliance Heritage Hill Association (MI) Downtown Kalamazoo, Inc. (MI) Heritage Preservation Services (MD) Dudley Ventures Historic Augusta (GA) Dundalk Renaissance Corporation Historic Boston, Inc. (Dundalk, MD) Historic Brookville, Inc. (PA) Eckler Building Solutions, LLC (MI) Historic Charleston Foundation, Inc. Elkins, P.L.C. Historic Chicago Bungalow Enhanced Historic Credit Partners Association Farmington Downtown Association Historic Columbia Foundation (SC) (NM) Historic Columbus (GA) Financial District Properties Historic Frostburg, A Historic Main State Historic Preservation Street Community (MD) Office Historic Foundation Florida Trust for Historic Preservation Historic Huffman Neighborhood Forest City Residential Group, Inc. Association (OH) Foss and Company Historic Macon Foundation (GA) Friends of the Braumart (MI) Historic Preservation Alliance of Fusion Advisory Services, LLC (Selma, AL) Historic Resources Speak (PA) Future Unlimited Law PC Historic Salisbury Foundation (NC) FuturePast Historic Historic Savannah Foundation PreservationConsulting Services (AL) Historic G.E. Felder and Associates (MD) Historic St. Martin's Foundation (MD) Gallagher, Evelius and Jones, LLP Historic Takoma, Inc. (MD) (MD) Historical Committee of the College gallupARTS (NM) Park Neighborhood Association Gem City-Hilltop Community Housing HistoricDetroit.org & Development, Inc. (OH) Trust for Historic Preservation Hogan Lovells US LLP Glenwood School Development, LLC Holland & Knight LLP (TX) HRI Properties global X Hunton & Williams LLP Grand Rapids Historic Preservation Commission (MI) Husch Blackwell LLP Grants MainStreet Project, Inc. (NM) State Historical Society Greater Business Association of Illinois Historic Preservation Agency Oakland (MD) Indiana Landmarks Gronen Properties Restoration Ishpeming Area Historical Society Hartford Preservation Alliance (CT) Jay Corvan Architects, LLC (MD) Havre de Grace Main Street (MD) Jones Walker Jubilee Baltimore

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Kasper Mortgage Capital, LLC Meridian Strategies, LLC (FL) Kaufman & Canoles Mesa Preservation Foundation (AZ) Kavanagh Advisory Group, LLC Michigan Historic Preservation Kentucy Heritage Council, State Network Historic Preservation Office Millenium Partners (MA) Klein Hornig, LLP (MA) Milwaukee Preservation Alliance KPS Group, Inc. (Huntsville, AL) Mimbres Region Art Council (NM) Kutak Rock, LLP Minnesota Historical Society La Grange Historic Districts Heritage Trust Commission (KY) Modern Phoenix (AZ) Landmark West (NY) Moline Preservation Society (IL) Landmarks Illinois Monroe Historic District Commission Laytonsville Historic District (MI) Commission (MD) Preservation Alliance Conservancy Montgomery Preservation, Inc. (MD) Lovington MainStreet Corp. (NM) MotorCities National Heritage Areas Lower Columbia Preservation Society Murray Main Street (KY) (OR) National Conference of State Historic Lower Merion Conservancy (PA) Preservation Officers MacRostie Historic Advisors LLC National Great Blacks in Wax Museum Madison Trust for Historic Preservation National Trust Community Investment (WI) Corporation Main Street Middleton (Middleton, National Trust for Historic Preservation MD) Nessen Associates, Ltd. (MA) Main Street Morgantown (WV) New Atlantic Development Main Street Pineville (KY) Corporation Main Streets Of Annapolis Partnership New Hampshire Preservation Alliance (Annapolis, MD) Landmarks Conservancy Maine Historic Preservation Nixon Peabody LLP Commission Nola/VanPeursem Architects, PC (AL) Maine Preservation Novogradac & Company, LLP MainStreet de (NV) Oberlin Heritage Center (OH) Manzo Development, LLC Ohio Historical Society Marshall Historical Society, Inc. (MI) Palmetto Trust for Historic Mary Sue Boyle & Company (PA) Preservation (SC) Maryland Association of Historic Patapsco Heritage Greenway (MD) District Commissions Peerless Rockville, Historic Maryland Commission on Indian Preservation Limited (MD) Affairs Phoenix Historic Neighborhoods Maryland Department of Housing & Coalition Community Development, Division of History and Landmarks Neighborhood Revitalization Foundation Maryland Heritage Areas Program Plante Moran PLLC Maryland Historical Trust Plante Moran, PLLC (MI) McKeesport Preservation Society (PA)

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Plymouth Soundings, LLC Preservation Office Preservation Action Rock Island Preservation Society (IL) Preservation Action Council of San Rogers Lewis Jackson Mann & Quinn, Jose (CA) LLC Preservation Alliance for Greater RSM McGladrey, INC Real Estate Group Preservation Alliance of Minnesota Rubin Brown Preservation Alliance of West Virginia Rushton, Stakely, Johnston & Garrett, Preservation Chelsea (MI) P.A. Preservation Consulting, LLC (MD) San Juan County Historical Society Preservation (CO) Preservation Detroit Sandvick Architects Sarasota Springs Preservation Preservation Durham Foundation (NY) Preservation Erie (PA) Save Our Heritage Organisation Preservation Howard County (MD) (SOHO) - CA Preservation Idaho - The Idaho Schneider Historic Preservation, LLC Historic Preservation Council (AL) Preservation , Inc. Seawall Development Corp. (MD) Preservation League of New York State Sherbert Consulting Preservation Louisville, Inc. Sherwin-Williams Company Preservation Maryland Signature Development Preservation Massachusetts Society for Historic Archaeology Preservation South Dakota State Historic Preservation Preservation Office Preservation Research Office of St. Southern Historical Society Louis (MO) Spencer & Vogt Group Preservation Resource Center of New Spencer & Vogt Group (MA) Orleans Squires, Sanders and Dempsey Preservation , Inc. State Sen. Diane Allen, NJ General Preservation Trust for Vermont Assembly Preservation Virginia Stonehenge Capital Company, LLC Preserve Rhode Island Stories of the Chesapeake Heritage Prince Georges Heritage, Inc. (MD) Area Providence Preservation Society T.A. Dukes & Associates, Inc. (CO) Puerto Rico State Historic Preservation Tax Credit Capital, LLC Office Tecumseh Area Historical Museum Quapaw Quarater Association (AR) (MI) Quinn Evans Architects (DC, MI, WI) Tennessee Historical Commission Randolph Area Community Tennessee Preservation Trust Development Corporation (VT) Texarkana Historic District ReCitizen LC3 (DC) Commission (AR) Reed Realty Advisors (Portland, OR) The Barre Partnership (VT) Restore Oregon The Ferchill Group Rhode Island State Historic The Real Estate Gallery, LLC (Selma,

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AL) Society (MI) The Villagers, Inc. (FL) Washington County Museum of Fine Town Planning Commissioners of Arts (MD) Leonardtown (MD) Washington Trust for Historic Tucumcari Main Street Corp. (NM) Preservation U S Development, Columbia, SC Winn Development Ulmer Berne LLP Winter-Troutwine Associates, Inc. (MI) US Bancorp Wintrhrop & Wenstine, P.A Heritage Foundation Wisconsin Preservation Fund, Inc. Vannase, Hangen, Brustlin, Inc. (MA) Wisconsin State Historic Preservation Vermont Division for Historic Office Preservation Wisznia | Architecture + Development Virginia Department of Historic State Historic Preservation Resources Office Wagon Mound Development Ypsilanti Heritage Foundation (MI) Association (NM) Warren Historical & Geneaological

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