June 14, 2010 The Honorable Charles A. Murphy The Honorable Steven C.PanagiotakosBudget Conference CommitteeMassachusetts State HouseRooms 243 and 212Boston, MA 02133

Re: HB 4601 – FY’ 11 State Budget ‐ Massachusetts HistoricRehabilitation Tax Credit

Dear Representative Murphy and Senator Panagiotakos:On behalf of Preservation Massachusetts, the statewide advocacyorganization for historic preservation, I write to express my strong supportfor the extension of the Massachusetts Historic Rehabilitation Tax Credit.(MHRTC) We urge that the language extending the sunset date from 2011 to2017, which was included as outside section 25 of the Senate enactedbudget, be included in the final conference committee report. The languagestates:

SECTION 25. Section 6J of chapter 62 of the General Laws, as so appearing,is hereby amended by striking out, in lines 36 and 37, the words “6 year period beginning January 1, 2006, and ending December 31, 2011” and inserting in place thereof the following words:‐ 12‐year period beginning January 1, 2006, and ending December 31, 2017.

In 2002, Preservation Massachusetts led a coalition of organizations in thedrafting and lobbying of the original MHRTC legislation, which was signedinto law by Governor Romney in November of 2003. Since then, PreservationMassachusetts has been the lead advocate for the credits use andexpansion. This tremendously popular credit program has not only helped torehabilitate and reuse many of our state’s historic buildings, it is alsocreating economic development, community revitalization and spurring jobcreation. Our organization works in partnership with other non-profits,businesses and professionals in our efforts to ensure this important creditremains in place and effective, especially in challenging times. To date almost 200 projects have applied since the first round of credits wasmade available in 2004 and approximately $270,000,000 in credits havebeen allocated. According to our own economic review of the tax credit’simpact on the Commonwealth, it was found that $74,000,000 in tax creditshave leveraged close to $1 billion in total investment, created 12,349 jobsand rehabilitated 2,655,688 square feet of historic buildings across theCommonwealth. The economic review also indicated that there is a pent up