Four state programs that layer on the 20% federal historic credit — one of the richest state credit stacks in the country. We have syndicated these credits on dozens of SC projects.
Each South Carolina credit has its own guide below — what it is worth, who qualifies, what it stacks with, and how we turn it into project equity.
25% · no per-site cap
The deepest credit in the state and the one behind the Upstate mill revival. Expressly stackable with federal and state historic credits, claimed over five years.
Read the Guide25% · $700,000 per site
For buildings 66% vacant for five years or more. S.853 removed the prior income-producing-use requirement in 2026, reopening projects that used to fail.
Read the Guide10% uncapped, or 25% capped at $1M
Rides the federal Parts 1–3 certification, so it is unusually cheap to add. The only real decision is which percentage to elect — the crossover is near $10M of spend.
Read the GuideUp to the federal LIHTC award
The state LIHTC. Capacity depends on legislative authorization and must be confirmed deal by deal. Stacks with the textile mill and abandoned buildings credits.
Read the GuideSouth Carolina pairs the 20% federal historic credit with four state programs, and the textile statute expressly permits its credit to be claimed in addition to historic credits. On an abandoned textile mill the combined federal and state credits can offset well over half of qualified rehabilitation costs — which is why SC mills are among the most financeable historic assets in America.
| Combination | Works? |
|---|---|
| Textile mill + federal historic + SC historic | Yes — the deepest stack available in the state |
| Abandoned buildings + federal historic + SC historic | Yes, where the building qualifies under both statutes |
| SC Housing Tax Credit + textile mill or abandoned buildings | Yes, on a qualifying affordable residential conversion |
| Textile mill + abandoned buildings on the same site | No — a textile mill site claims under the textile statute, which is uncapped and worth more |
On a qualifying textile mill site, the textile mill credit: 25% with no per-site dollar cap, where the abandoned buildings credit caps at $700,000 per site and the state historic credit at $1 million under its 25% election. On any project of scale the uncapped credit dominates.
Yes. A textile mill project can stack the 25% SC textile mill credit with the 20% federal historic credit and the SC historic credit, and other projects can pair the abandoned buildings credit with historic credits. Layered correctly, state and federal credits can offset a large share of rehabilitation costs.
Investors with South Carolina tax liability — insurance companies, banks, corporations and family offices. They invest equity in the project entity, directly or through a fund such as Moxie Investment Funds, and receive the credits plus other economics. That equity is what funds construction.
Before you finalize your budget. Eligibility notices, SHPO applications and election decisions all have timing rules, and the election affects how the whole capital stack is structured.
If your project is in South Carolina, you will not find a team that has closed more of these credit structures.
