State ranks 22nd in certified historic preservation projects

State ranks 22nd in certified historic preservation projects South Dakota ranks 22nd in the nation for certified historic preservation projects in the Federal Rehabilitation Tax Credit program, according to an annual report from the National Park Service. The statistical report and analysis shows that during fiscal year 2008, South Dakota had seven projects around the state certified for the program, representing private investment of more than $8.5 million in the state's historic building stock. Among neighboring states, only Iowa had a higher number of certified projects in fiscal year 2008. Vogt added that projects approved in 2008 included apartment buildings, retail and office space, elderly housing, hotels and mixed-use development. The Federal Rehabilitation Tax Credit program offers a 20 percent tax credit on the certified expenditures of a certified historic structure. Eligible properties must be listed on the National Register of Historic Places, follow the Secretary of the Interior's Standards for Rehabilitation, and meet a number of other important eligibility criteria. The program is jointly administered by the National Park Service, the Internal Revenue Service and the State Historic Preservation Office in each state. For more information on how to qualify for the federal rehabilitation tax credit, contact the State Historic Preservation Office at (605) 773-6005.

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