Historical Markers Historic Development Grant Program initiated by the Tennessee General Assembly in April 2021
For nearly a decade, preservation advocates have pushed for a state historic tax credit. Due to Tennessee’s lack of an income tax, it was difficult to establish the best way to fund it. Based on this advocacy and a desire to spur small town development, Gov. Bill Lee included $5 million in his recent budget for a pilot grant program that will fund 30% of a project’s qualified rehabilitation expenses up to $300,000. For the pilot program, a project must be listed in the National Register or within a NR listed historic district. This program can be used in conjunction with the historic tax credit program or by owners that typically would not qualify for the historic tax credit program—such as non-profits or local governments. Program details and timeline, applicant qualifications, and the application are available online: www.tn.gov/ecd/rural-development/historic-development-grant-program.html.
The Tennessee Historical Commission will be working in partnership with the Department of Economic and Community Development on this program