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Abstract

The Historic Preservation Act of 1966 has significantly impacted communities at local, regional, state and national levels. However, questions have been raised about historic preservation and its contribution to economic development. The intersection of sustainability issues such as adaptive reuse, air quality, “walkable-livable” neighborhoods, and fossil fuel consumption illustrate the increasing importance of historic preservation. Historic Preservation Tax Credits show high returns and are valuable tools for legislators and policy makers to utilize in collaboration with other community development programs. Research indicates that historic preservation can be utilized as a tool to elevate property values, restore pedestrian-friendly neighborhoods, maintain community health, promote creative entrepreneurship and implement long-term sustainability efforts. Grand Rapids, Michigan provides a case study for assessment. The State of Michigan may benefit in the future from extension of historic preservation tax credits on a state-wide level.

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