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i t Page 40 Between January 1 and June 30 , 1998 , the HPO received 115 applications representing 84 individual projects from owners of non-income-producing historic properties . Fifty-one projects are located in the Piedmont , 26 in the east and Coastal Plain , and 7 in the west . Wake County leads the way with twelve projects . Forsyth County is second with eight projects , and Mecklenburg and Buncombe Counties follow closely with seven projects each . While Buncombe County is the only county in western North Carolina for which there * are applications , projects from the eastern and Coastal Plain regions are spread among many counties with Beaufort , New Hanover, and Chowan the most active thus far . Of the eighty-four proposed projects , fifty-five of the properties are currently listed as contributing structures in National Register or Certified Historic Districts , and thirteen are individually listed in the National Register . The properties for the remaining twelve projects are not currently listed in the National Register . However , to quality for the credit each must be formally listed by the Keeper of the National Register by the time the Part B application is submitted for final certification . Owners are urged to secure National Register listing prior to beginning a certified rehabilitation , since the National Register process may take six months to two years or longer . Thus far the majority of the rehabilitation work consists of repairs to existing historic fabric . j Typical work includes repairs to the roof, windows , porch structures , exterior and interior woodwork , plaster walls and ceilings , and wood floors . The state rehabilitation tax credit has Aso enabled several owners to propose replacing modern vinyl , aluminum , or asbestos siding with appropriate wood siding . In addition to typical repairs , many projects include remodeling kitchens and baths , installing new plumbing, mechanical , or electrical systems ; or constructing compatible rear additions althoughadditions do not qualify for the credit . Estimated rehabilitation costs for projects are averaging approximately $ 74 , 000 . Total anticipated rehabilitation expenditures for all projects to date are nearly six million dollars . Most of the projects submitted have an estimated completion date in 1998 , at which time the benefits of the new state rehabilitation tax credit for non-income-producing historic buildings will become even more impressive . =I Robin Stancil Walton INCREASED TALC CREDIT GENERATES TREMENDOUS GROWTH OF PRESERVATION PROJECTS Legislation enacted by the 1997 General Assembly to increase the state rehabilitation tax credit for income-producing properties from 5 percent to 20 percent has proven to be a catalyst for historic preservation in North Carolina. The new tax credit provides a 20 percent state tax credit for the rehabilitation of income-producing historic properties that also qualify for the 20 percent federal investment and tax credit and are placed in service on or after January 1 , 1998 . In effect the combined federal- state credits reduce the cost of a certified rehabilitation of an income - producing historic structure by 40 percent ,