Part 2: Approval by the National Park Service (NPS) Brings the Historic Virgin Islands Project Closer to Tax Credit Certification
CHARLOTTE AMALIE, U.S. Virgin Islands, May 22, 2025 /PRNewswire-PRWeb/ -- On May 12, 2025, Fifteenand9Main achieved a pivotal milestone in its historic preservation journey: the National Park Service (NPS) approved the team's Part 2 submission in the three-part Historic Preservation Tax Credit process. This approval affirms the building's historical significance and restoration viability at the center of the group's revitalization project.
Part 2 of the process outlines the building's existing condition and the proposed renovation plans. It builds on Part 1, which established that the structure is historically significant and located within a designated historic district.
"This achievement underscores our commitment to preserving the cultural and architectural legacy of the Virgin Islands," said Carol Shear, Managing Partner of Fifteenand9Main. "It's a proud moment for our entire team."
Team Collaboration and Urgency in Action
With urgent structural needs—including a failing roof—the team initiated renovation work early, after obtaining permission from local historic preservation officials and Washington, DC authorities. The support of Sean Krigger, territorial liaison for the U.S. Virgin Islands, proved instrumental in facilitating the early start, underscoring the critical timing and importance of this project.
The 32-page Part 2 submission resulted from months of collaboration by all four managing partners: Michael Donohue, Catarina Donohue, David Shear, and Carol Shear. The document detailed each stage of rehabilitation work, reflecting a shared dedication to historical integrity and community revitalization.
Special recognition goes to Carol Shear, whose grant expertise, gained through years of professional experience, was essential in navigating the complexities of the application process and securing early progress.
A Call to Community Engagement
Fifteenand9Main hopes this milestone will inspire greater engagement across the U.S. Virgin Islands—particularly in St. Thomas, St. Croix, and St. John—to preserve and enhance their historic districts. The Charlotte Amalie Historic District, home to hundreds of contributing buildings, and the Christiansted Historic District—added to the National Register in 1976 with 253 contributing buildings—are treasures of cultural significance.
The Broader Picture: Tax Credit Opportunity in the Virgin Islands
Despite the national success of the Historic Preservation Tax Credit Program—where over \$35 billion in credits were approved from 2019 to 2024—the Virgin Islands have yet to benefit. However, bipartisan legislation is currently under consideration that would increase the federal credit from 20% to 30% for smaller projects, many of which are located in the Virgin Islands.
Next Steps: Certification of Completed Work
Fifteenand9Main will now move forward with Part 3—the final phase—submitting documentation to certify completed rehabilitation. Once approved, the project will be eligible to receive the 20% federal Historic Preservation Tax Credit, further validating the work and investment behind this effort.
Media Contact
Carol Shear, Fifteenand9Main, 1 410-262-6724, [email protected], https://fifteenand9mainstthomas.com
SOURCE Fifteenand9Main
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