Eyes on the Street: Smaller rehabs to benefit most from PA’s new preservation tax credits

After years of consideration, Pennsylvania finally offers a tax credit for the rehabilitation of historic, income-producing properties, modeled after the Federal Rehabilitation Tax Credits, and preservation advocates are rightly applauding this as a real victory.

Too bad the Commonwealth’s new tax credit won’t do much to incentivize the rehabilitation of huge, historic properties like the Divine Lorraine, as an Inquirer headline Wednesday suggested.

Why? Put on your green eyeshades:

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