Newsletters & Annual Reports

Solar energy development and historic preservation are not mutually exclusive goals. Conflict tends to arise, however, when developers fail to conduct due diligence about the historic and cultural landscapes on or near potential sites. Early planning by developers to avoid or minimize adverse effects to these landscapes is the first step to lessening conflict and lowering risk.

Preservation Virginia, in partnership with the Home Builders Association, undertook a study into the economic benefits of the historic rehabilitation tax credit program in Virginia. Baker Tilly Virchow Krause, LLP (Baker Tilly), a nationally recognized, full-service accounting and advisory firm, studied the economic impact of 21 projects completed in 2014. Their findings demonstrate the Historic Rehabilitation Tax Credit Program doesn’t just preserve the places that make Virginia unique. In 2014 alone it:

• Resulted in $467 million in economic output
• Supported 9,960 jobs
• Generated $3.50 for every $1 invested through the first three years

This study was made possible with the help of our generous sponsors: Monument Construction, Foss and Company, HTC Advisors, Linden Capital, Marathon Development, AOSS Ventures, Lawrence N. Brandt, Inc., Historic Richmond Foundation, Urban Core Construction, Associated General Contractors, AIA Virginia, Virginia Chapter of the American Planning Association, Waukeshaw Development, Barry Kelley Asset Management, Sadler & Whitehead, Williams Mullen and Commonwealth Preservation Group.