The rehabilitation of historic structures is rewarded with significant tax credits by the federal government, as well as many individual states. Properties must be included on the National Register of Historic Places at the time the tax credit is claimed, either individually or as part of a historic district, and tax credit applications may be processed simultaneously as the National Register nomination in some cases.
REHABILITATION TAX CREDITS
Old Methodist Church
Chapel Hill, Orange County, North Carolina
The Old Methodit Church was built in 1853, the first Methodist Church in Chapel Hill. The church permitted both white and African American Methodists to join as members. In 1889, the Methodists moved to a larger building, leaving their original structure to the Congregational Church. During World War II, the building was used as a repair shop for both automobiles and aircraft. The building has been offices for various businesses since the 1950s, and has undergone a renovation to balance the building's historic character with its current use as retail, residental, and office space.