3. Look for local or regional economic incentives.

Second-generation buildings may sometimes be offered local tax or financing incentives, particularly deferred property taxes. “Always look for economic development incentives,” says McCafferty. “If they’re available, why shouldn’t your client benefit?”

“In today’s climate, communities are in competition for jobs, jobs, jobs,” says Hudson. “If a building renovation project can attract jobs, you should help your client find those incentive programs and packages.”