Historic tax credits are a financial incentive program on both the federal and state levels. As an effective investment strategy to reuse historic buildings, it is one of the nationa’as most successful and cost-effective community revitalization programs. Based on the Secretary of the Interior’s Standards for Rehabilitation, the structures and tax benefits range depending on if its a residential or commercial rehab. The tax credit projects in the Calhoun Preservation portfolio represent millions of construction activity around the Gulf Coast and includes a broad spectrum of projects — commercial, institutional, industrial and residential buildings in big cities and in small towns. They range from a $70,000 renovation of a historic shotgun residence to the rehabilitation of a 21-story office building in Texas.