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Historic, facade, code and flood credits: what Woodstock owners need to know
Summary
At the Woodstock presentation, Corkins walked through four state credit tiers—historic (paired with the federal RITC), facade, code, and flood mitigation—explaining caps, preservation requirements and typical uses such as elevators, sprinklers or exterior repairs.
Corkins described four main tiers of state credits available to properties in designated downtowns or village centers. She said the historic tier is meant to pair with the federal Rehabilitation Investment Tax Credit (RITC): property must be listed in the National Register of Historic Places and have an approved federal application to qualify for the combined historic benefit.
For other state tiers, Corkins explained the facade credit covers exterior, public-facing work and is a 25% credit capped at $25,000. Code credits—used most commonly—cover work needed to meet current building codes (elevators, sprinkler systems, accessible bathrooms) and can be a 50% credit with category-specific caps and a $100,000 maximum in many code categories. The flood mitigation credit is also a 50% credit with a $100,000 cap and is intended to fund preventive measures such as moving utilities out of basements and installing floodgates.
