Real Estate and Community Development

Affordable Housing • Real Estate • Tax Credit SyndicationPresented By

David Schon

Nixon Peabody LLP

Private Redevelopment of Federally Owned Historic Properties

National Historic Tax Credit Conference

November 8, 2007

Washington, DC

Federal Suprlus Property Program(Section 203(k)(3):

The Historic Surplus Property Program allows state, county and local governments to obtain surplus Federal historic properties at no cost.

Information: http://www.nps.gov/history/hps/tps/hspp_p.htm

Federal Surplus Property Program(cont’d)

Historic properties transferred under this program may be used for public facilities, such as museums and government offices; properties can also be leased to not-for-profit organizations and to developers who may be eligible to take advantage of Federal Historic Preservation Tax Incentives.

Information: http://www.nps.gov/history/hps/tps/hspp_p.htm

Enhanced Use Leasing(Section 111 GSA)

Section 111 of the National Historic Preservation Act (NHPA) permits Federal agencies to lease historic buildings and, importantly, to retain revenue from such leases to defray historic preservation costs.

More info: http://www.gsa.gov/Portal/gsa/ep/contentView.do?P=PMHP&contentId=11167&contentType=GSA_BASIC

Enhanced Use Leasing (non-GSA):

More Information: EUL military

http://eul.army.mil/

http://www.safie.hq.af.mil/afrpa/eul/index.asp

http://www.va.gov/cares/default.asp

Military Housing Privatization (PPVs)

Privatized military housing (also known as Public/Private Venture (PPV) housing in the Navy) is owned by a private entity and governed by a business agreement with the military. The private entity is responsible for the construction, renovation, maintenance and day-to-day management of the housing.

More Information: http://www.acq.osd.mil/housing/mhpi.htm

Base Realignment and Closure

“BRAC" is an acronym which stands for base realignment and closure. It is the process used by the Department of Defense to reorganize its installation infrastructure and typically involves the closure of some facilities. There have been multiple BRAC “rounds” – the most recent of which is the 2005 Round.

More Information: BRAC.https://www.denix.osd.mil/denix/Public/Library/NCR/Documents/NPC_BRAC_sullivan.ppt

More Info on Federally OwnedHistoric Buildings:

More Information:

http://www.va.gov/facmgt/historic/ (inventory of VA owned historic buildings)

http://www.asaie.army.mil/Public/Partnerships/OHP/about.htm (the Army’s historic building program)

http://w3.gsa.gov/web/p/interaia_save.nsf/3.%20Historical%20buildings%20%5C%20Buildings%20by%20State?OpenView&Start=8&Count=30&Expand=8.1#8.1 (inventory of GSA owned historic buildings)

David F. SchonNixon Peabody LLP

Suite 900 401 Ninth Street, NW

Washington, DC 20004 (202) 585-8778 (202) 585-8080 (fax)

dschon@nixonpeabody.com