The details of Higgins' plans weren't provided, but the article did refer to the difficulties some developers face when working with the program. As we've noted in the past, the historic tax credit program is not easy to work with, but it's the only significant incentive currently available for historic rehabs. We're glad to see some federal attention to the issue, especially as New York continues to evaluate the effectiveness of its own historic tax credit program.
For related entries on this topic, please check out:
1. Caution: Historic Tax Credits Under Construction - www.preservationexchange.blogspot.com/2009/12/caution-historic-tax-credits-under.html
2. Musical Chairs - www.preservationexchange.blogspot.com/2010/08/musical-chairs.html)