UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, DC  20549

                           FORM 10-Q/A

[X]  Quarterly  Report Pursuant to Section 13 or 15  (d)  of  the
Securities Exchange Act of 1934
For the quarter ended    June  30, 1996
               or
[  ]  Transition Report Pursuant to Section 13 or  15(d)  of  the
Securities Exchange Act of 1934

For the transition period from              to

Commission File Number 33-31778

Historic Preservation Properties 1990 L.P. Tax Credit Fund
(Exact name of registrant as specified in its charter)

      Delaware                                       04-3066191
(State or other jurisdiction                 (I.R.S. Employer
    of incorporation or                      Identification No.)
      organization)

Batterymarch Park II,  Quincy,  Massachusetts        02169
(Address of principal executive offices)    (Zip Code)

Registrant's telephone number, including area code (617) 472-1000

Indicate  by check mark whether the Registrant (1) has filed  all
reports  required  to be filed by Section 13 or  15  (d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or for such shorter period that the  Registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.
                                             Yes  X       No

   HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                            FORM 10-Q/A

                          JUNE 30, 1996

                        TABLE OF CONTENTS




                                                            Page


PART  I  -  FINANCIAL INFORMATION

        Financial Statements

          Consolidated Balance Sheets                         3

          Consolidated Statements of Operations               4

          Consolidated Statements of Partners' Equity
                                         (Deficiency)         5

          Consolidated Statements of Cash Flows               6

          Notes to Consolidated Financial Statements          7-12

          Management's Discussion and Analysis of Financial
           Condition and Results of Operations               13-15

          PART II   -    OTHER  INFORMATION                  16

          Signatures                                         17










                                
                                
                                
                                
                                
                                
                                2
       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                       CONSOLIDATED BALANCE SHEETS

                   JUNE 30, 1996 AND DECEMBER 31, 1995

                                 ASSETS
                                                1996         1995
                                            (Unaudited)
INVESTMENT IN REAL ESTATE:
  Building and building improvements        $15,179,113   $14,736,101
  Land                                           97,034        97,034
  Furniture and equipment                       975,287       964,378
  Marina - land and improvements              1,312,809     1,352,790

                                             17,564,243    17,150,303

     Less accumulated depreciation            2,843,714     2,573,713
             
                                             14,720,529    14,576,590
  Reserve for realization of Marina
     land and improvements                     (845,672)     (845,672)
                                   
                                             13,874,857    13,730,918

CASH                                            438,136       474,835
ESCROW DEPOSITS                                 190,783        54,270
DEFERRED EVALUATION AND ACQUISITION
  COSTS, net of accumulated amortization
     (1995,    $151,604;    1996,   $137,822)   950,996       964,778
OTHER DEFERRED COSTS                            194,287        51,121
OTHER ASSETS                                     19,036       207,103

                                            $15,668,095   $15,483,025


                     LIABILITIES AND PARTNERS' EQUITY

LIABILITIES:
  Mortgages and note payable                 $6,191,611    $ 5,590,418
  Accrued expenses and other liabilities        495,513        402,064
  Security deposits                              92,317         86,716

          Total liabilities                   6,779,441      6,079,198

COMMITMENTS AND CONTINGENCIES (Notes 4 and 5)

MINORITY  INTEREST                                    -        268,325

PARTNERS' EQUITY
  Limited Partners' Equity-Units of
     Investor Limited Partnership
     Interest, $1,000 stated value per
     unit-issued and outstanding -
     16,361 units                              8,942,129     9,186,508

  General Partner's equity (deficiency)          (53,475)      (51,006)

          Total partners' equity               8,888,654     9,135,502

                                             $15,668,095   $15,483,025


     The accompanying notes are an integral part of these financial
                               statements.


                                    3
       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                  CONSOLIDATED STATEMENTS OF OPERATIONS
                                    
            FOR THE THREE MONTHS ENDED JUNE 30, 1996 AND 1995
           AND FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995

                              (UNAUDITED)
<TABLE>
<CAPTION>

                                                Three Months             Six Months
                                               Ended June 30,          Ended June 30,
                                          1996           1995          1996           1995
<S>                                <C>              <C>         <C>              <C>       
REVENUES:
  Rental and related  income       $     770,937     $ 691,087  $    1,378,377   $1,273,746
  Interest and other income               27,893        53,697          30,622       91,941

                                         798,830       744,784       1,408,999    1,365,687

EXPENSES:
  Operating and administrative            79,268        20,719         129,369       37,741
  Property operating expenses            433,876       476,060         896,545      859,283
  Professional fees                       35,106        22,243          50,152       44,151
  Depreciation and  amortization         141,891       141,909         283,783      284,417

                                         690,141       660,931       1,359,849    1,225,592

  Income from  operations                108,689        83,853          49,150      140,095


OTHER EXPENSE:
  Interest Expense                      (121,980)     (139,839)       (299,342)    (280,478)


MINORITY INTEREST IN  LOSS
  ON MARINA VENTURE                            -        10,722           3,344       21,478

NET LOSS                            $    (13,291) $    (45,264)  $    (246,848)   $(118,905)

NET LOSS ALLOCATED TO
  GENERAL PARTNER                   $        (13) $       (453)  $      (2,469)   $  (1,189)

NET LOSS ALLOCATED TO
  LIMITED PARTNERS                  $    (13,278) $    (44,811)  $    (244,379)   $(117,716)

NET LOSS PER UNIT OF
  INVESTOR LIMITED
  PARTNERSHIP INTEREST,
  BASED ON 16,361 UNITS
    OUTSTANDING                     $        (.81) $     (2.74)  $      (14.94)   $   (7.19)
</TABLE>

     The accompanying notes are an integral part of these financial
                               statements.
                                    
                                    4
       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

        CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY (DEFICIENCY)

               FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND

                    THE YEAR ENDED DECEMBER 31, 1995

<TABLE>
<CAPTION>

                          Units of
                          Investor          Investor
                          Limited           Limited       General
                          Partnership       Partners'     Partner's
                           Interest           Equity      (Deficiency)     Total

<S>                          <C>        <C>               <C>           <C> 
BALANCE, Dec 31, 1994        16,361     $  9,541,939      $  (47,416)   $ 9,494,523

    Net  loss                     -         (355,431)         (3,590)      (359,021)

BALANCE,  Dec 31, 1995       16,361        9,186,508         (51,006)     9,135,502

     Net loss (Unaudited)         -         (244,379)         (2,469)      (246,848)

BALANCE, June 30, 1996
    (Unaudited)              16,361     $  8,942,129      $  (53,475)  $  8,888,654

</TABLE>
















     The accompanying notes are an integral part of these financial
                               statements.

                                    5
       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                  CONSOLIDATED STATEMENTS OF CASH FLOWS

             FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995

                               (UNAUDITED)

   
                                                  1996          1995

CASH FLOWS FROM OPERATING ACTIVITIES:
    Net   loss                                  $(246,848)      $(118,905)
 Adjustments to reconcile net loss to
 net cash provided by operating activities:
  Depreciation and amortization                   283,783         284,417
    Minority  interest  in  loss  on  
    Marina  Venture                                (3,344)        (21,478)
  Increase in accrued expenses  and
    other liabilities                              99,050          84,368
  Increase in escrow deposits                    (136,513)       ( 48,515)
  Decrease (increase) in other assets             188,067        (111,360)
         Net cash provided by operating 
          activities                              184,195          68,527

CASH FLOWS FROM INVESTING ACTIVITIES:
 Purchase of furniture and equipment              (10,909)         (3,826)
 Additions to building and improvements          (443,012)         (1,310)

 Net cash used in investing activities           (453,921)         (5,136)

CASH FLOWS FROM FINANCING ACTIVITIES:
 Proceeds       from      refinancing           6,000,000               -
 Payment     of     mortgage     payable       (5,590,418)              -
 Principal payments of mortgage  payable          (33,389)              -
 Additions to deferred costs                     (143,166)              -

         Net  cash provided by financing
               activities                         233,027               -

NET INCREASE (DECREASE) IN CASH                   (36,699)         63,391

CASH, BEGINNING OF PERIOD                         474,835         505,501

CASH, END OF PERIOD                              $438,136        $568,892

SUPPLEMENTAL CASH  FLOW INFORMATION:
   Cash paid for interest                        $279,542        $280,478

   Non-cash financing activity:
   On  February  27, 1996, the minority interest in the  Marina  Venture
redeemed its partnership interest for a $225,000 mortgage        note on
the  property.   The  transaction resulted in a $39,981 reduction of basis
in the marina property.   See footnote 4 for futher information.

The accompanying notes are an integral part of these financial statements.

                                    6
(1)     Basis of Presentation

         The accompanying unaudited financial statements have been prepared
in  accordance  with generally accepted accounting principles  for  interim
financial information and generally with the instructions to Form 10-Q  and
Article 10 of Regulation S-X.  Accordingly, they do not include all of  the
information  and  footnotes  required  by  generally  accepted   accounting
principles   for  complete  financial  statements.   In  the   opinion   of
management,  all  adjustments  (consisting of  normal  recurring  accruals)
considered necessary for a fair presentation have been included.  Operating
results  for  the  six  months ended June 30,  1996,  are  not  necessarily
indicative of the results that may be expected for the year ending December
31,  1996.  For further information, refer to the financial statements  and
footnotes thereto included in the Annual Report on Form 10-K for  the  year
ended December 31, 1995 for Historic Preservation Properties 1990 L.P.  Tax
Credit Fund (HPP'90), as filed with the Securities and Exchange Commission.

(2)     General Partner - Boston Historic Partners II Limited Partnership

         Boston  Historic  Partners II Limited Partnership  (BHP  II),  the
general  partner  of  HPP'90, was formed in June 1989 for  the  purpose  of
organizing,  syndicating and managing publicly offered real estate  limited
partnerships (Public Rehabilitation Partnerships).

         BHP  II  has a substantial amount of unpaid obligations  to  trade
creditors.  In the event BHP II is not able to generate sufficient cash  to
fund  BHP II's operations and commitments and contingencies in the  future,
there might be unfavorable consequences to HPP'90.

         Under  the  partnership agreement, a bankruptcy of  BHP  II  could
result  in  the  dissolution of HPP'90, if at any time BHP II  were  to  be
adjudicated bankrupt (either by way of a voluntary filing or by an issuance
of  an  order for relief in the event of an involuntary filing) and BHP  II
continued  to  be  the sole general partner of HPP'90.   If  an  additional
general partner was admitted to HPP'90 prior to a bankruptcy of BHP II, the
business of HPP'90 would be able to continue.

         If BHP II were to be adjudicated bankrupt, and at the time BHP  II
was  the sole general partner of HPP'90, HPP'90 would not be dissolved upon
the  occurrence  of  such an event if a majority interest  of  the  limited
partners,  elect, within 90 days, to continue the business  of  HPP'90  and
another  general partner is elected (under Delaware law, within 90 days,  a
unanimous vote of the limited partners to continue HPP'90 is required).

          Although  the  partnership  agreement  provides  for  the   above
mechanisms for continuing the business of HPP'90, BHP II's general partners
believe  the  most likely course of action would be to seek a successor  or
additional general partner for HPP'90.

         If  such events were to happen whereby BHP II and/or HPP'90  could
not  consummate the above, HPP'90 could be dissolved resulting  in  adverse
tax consequences to the limited partners.










                                     7
(3)     Investment in Real Estate

         During 1990, HPP'90 acquired an interest in the following entities
(see below for subsequent changes in ownership):

         Henderson's  Wharf  Baltimore, L.P. (the Building  Venture)  is  a
Delaware  limited  partnership formed on July 20, 1990  to  acquire  a  fee
interest in a seven-story building on 1.5 acres of land and to rehabilitate
the building into 128 residential units, 149 indoor parking spaces and a 38
room  inn  located at 1000 Fell Street, Baltimore, Maryland.  The  building
contains  a  total  of  137 residential units, 9  of  which  are  owned  by
unrelated  parties.   The  building has been  substantially  renovated  and
certain  renovation  costs  qualify for Rehabilitation  Tax  Credits.   The
Building  Venture  purchased  its interest for $6,812,500,  which  included
seller  financing of $6,350,000, and a contingent purchase price promissory
note  (see Notes 4 and 6).  Contributions by HPP'90 to the Building Venture
totaled $12,214,500, as of June 30, 1996.

         HPP'90 has made all required capital contributions to the Building
Venture  in  accordance with the Building Venture's partnership  agreement,
and  is not required to make additional contributions, although at its sole
discretion, may do so.

         The renovation of the residential units was substantially complete
and  a  certificate of occupancy was received on December  31,  1990.   The
Building  Venture commenced lease-up in 1991 and has been fully operational
since  1992.   For  the quarter ending June 30, 1996, the average  economic
occupancy  for the residential units was approximately 94% and the  average
occupancy for the Inn was 79%.

         On  February  27,  1996,  the  Building  Venture  purchased  three
condominium  units  and parking spaces (the Property)  owned  by  unrelated
parties, in conjunction with the refinancing of its note payable (see  Note
4).

         HPP'90's  operations,  principally accounting,  asset  management,
investor  services, and other general and administrative costs, are  funded
from  distributions by the Building Venture.  During the six months  ending
June 30, 1996, the Building Venture distributed $71,000 to HPP'90.

         Henderson's Wharf Marina, L.P. (the Marina Venture) is a  Delaware
limited partnership formed on July 20, 1990 to acquire a fee interest in  a
1.92  acre  parcel  of  land  together with a 256-slip  marina  located  in
Baltimore,  Maryland.  HPP'90 purchased the Marina Venture for  $1,266,363,
which  included seller financing of $1,187,500 (see Note 4).  Contributions
to the Marina Venture by HPP'90 totaled $253,476, as of June 30, 1996.  The
Marina  Venture  has operated a minimal number of slips since 1991  due  to
the  significant repairs necessary to be fully operational.  In the quarter
ending  June  30,  1996, contributions to the Marina  Venture  from  HPP'90
totaled $6,257.

         Under  the  Second  Amended  and Restated  Agreements  of  Limited
Partnership dated February 1, 1991 of Henderson's Wharf Baltimore, L.P. and
Henderson's  Wharf Marina, L.P., Henderson's Wharf Development  Corporation
(HWDC),  a Delaware corporation wholly owned by HPP'90, was admitted  as  a
general  partner of the Ventures (HPP'90 and HWDC are collectively referred
to  as the "Henderson's General Partners"), and Hillcrest Management,  Inc.
(HMI), a Massachusetts corporation, was admitted as the Limited Partner  of
the  Ventures  and became a minority interest holder in the  Ventures.   On
August  1,  1991,  the  Second Amended and Restated  Agreement  of  Limited
Partnership  of Henderson's Wharf Marina, L.P. was amended.  The  amendment
provided  for the withdrawal by HPP'90 as a general partner and the admittance
of HPP'90 as a limited partner.  Consequently, HWDC became the sole general
partner in the Marina Venture.





                                     8
                                     
(3)     Investment in Real Estate (Continued)

         On December 31, 1992, the Third Amended and Restated Agreement  of
Limited Partnership of Henderson's Wharf Marina, L.P. was executed.   HWFP,
Inc.  (HWFP),  a  Maryland  corporation and the  original  holder   of  the
purchase  money  note  relating to the purchase  of  the  marina  property,
received  a  50%  limited partnership interest in the  Marina  Venture  and
became  the holder of a minority interest (see Note 4).  Concurrently,  HMI
withdrew  as  a  limited  partner in the Marina Venture,  HPP'90's  limited
partnership  interest in the Marina Venture was reduced  to  49%  and  HWDC
retained  a  1%  general partnership interest in the Marina  Venture.   The
minority  interest granted was recorded at fair market value  based  on  an
independent appraisal and a priority distribution of proceeds from  capital
transactions  as  provided for in the Marina Venture's  Third  Amended  and
Restated Agreement of Limited Partnership.

         In  accordance with the termination of all HMI contracts (see Note
5), effective January 1, 1995, HMI withdrew from the Building Venture as  a
 .1% limited partner and was replaced by HWDC.

         Based  on management's analysis completed during the fourth quarter
of 1992, which considered the fair market value of marina land and 
improvements determined  by  independent  appraisal and  the  priority 
distribution  of proceeds  from capital transactions as provided for in the
Marina Venture's Third   Amended   and  Restated  Agreement  of  Limited
Partnership,   the Partnership   reserved $845,672 against its investment in
the  marina  land  and improvements as of December 31, 1992.  At June 30,
1996, management estimates that the future cash flows from the marina exceed
the carrying amount of the property so that no further reserve is deemed
necessary.

         Generally, allocations of net profits and losses as well  as  cash
flow of the Building Venture and Marina Venture are allocated in accordance
with  the Second Amended and Restated Agreement of Limited Partnership  and
Third  Amended and Restated Agreement of Limited Partnership, respectively,
as  defined in the agreements.  The overall management and control  of  the
business  and  affairs  of  the Ventures is solely  vested  in  Henderson's
General Partners.

         As  discussed  in Note 4, on February 27, 1996, HPP'90,  HWDC  and
HWFP,  Inc.  entered  into the First Amendment to  the  Third  Amended  and
Restated Agreement of Limited Partnership of Henderson's Wharf Marina, L.P.
by  which HWFP, Inc. redeemed its 50% limited partnership interest  in  the
Marina Venture in return for a $225,000 first mortgage note secured by  the
marina  property.   As  a  result  of  this  redemption,  HPP'90's  limited
partnership  interest in the Marina Venture was increased to 98%  and  HWDC
received  a  1% limited partnership interest and maintained its 1%  general
partnership interest in the Marina Venture.

(4)     Mortgages and Note Payable

         The Building Venture financed $6,350,000 of the purchase price  of
the  property by issuing a purchase money note to the seller, HWFP.  HPP'90
paid $1,000,000 of principal under this note in December 1990, reducing the
balance to $5,350,000 at December 31, 1990. During 1992, the maturity  date
of  the  note  was  extended until January 2, 1994.  In  consideration  for
extending the maturity date of the note, the Building Venture was  required
to  pay  $150,000 to the holder of the purchase money note (the Lender)  on
the earlier of January 2, 1994 or a refinancing of the purchase money note.
The  Building Venture negotiated three extensions in 1994. In  April  1994,
the  Lender extended the maturity date on the note until December 31,  1995
and  added the $150,000 extension fee to the outstanding principal  balance
of  the  note along with unpaid interest totaling $89,168 on the note  (for
the  period March 16, 1994 through May 15, 1994) and unpaid interest on the
extension  fee totaling $1,250 (for the period April 16, 1994  through  May
15,  1994).  Interest was due monthly on the new principal balance  of  the
note  at  the  annual  rate of 10%.  In addition, the Lender  required  the
Building Venture to establish a real estate tax escrow account (Tax Escrow)
which  was  being funded on a monthly basis.  The note was secured  by  the
property, rents and assignment of leases.



                                     
                                     
                                     9
(4)     Mortgages and Note Payable (Continued)

           In conjunction with issuing a purchase money note to the seller,
the  Building  Venture entered into a contingent purchase price  promissory
note  with  the  seller for $1,250,000. Payment on the note was  contingent
upon the cash flow generated from the future sale of apartment units in the
Building  Venture.  The note was unsecured, bore no interest,  and  had  no
maturity  date.  As  discussed below, the Building  Venture  paid  off  the
contingent  purchase  price promissory note for $109,583  on  February  27,
1996.   This  amount was recorded as an addition to the building  basis  in
1996.

           On February 27, 1996, HPP'90 obtained a $6,000,000 deed of trust
note  with  a  third  party lender which provided funds  for  the  Building
Venture  to  refinance  the  outstanding balance  of  the  seller  financed
purchase  money note totaling $5,590,418, to pay $109,583 to the seller  in
release  of the contingent purchase price promissory note, and to  purchase
in  part  three  condominium units and parking spaces  owned  by  unrelated
parties  for  an aggregate purchase price of $333,429.  The deed  of  trust
note  bears  interest at 7.85% and requires monthly principal and  interest
payments  in  the  amount of $49,628 commencing in  April  1996.  The  note
amortizes  over a 20 year schedule and all remaining unpaid  principal  and
interest is due in March 2006. Under the deed of trust note, the lender has
the option with six months written notice to call amounts outstanding under
the  deed of trust note at the end of ten years or anytime thereafter.  The
deed of trust note is secured by the Building Venture's property, rents and
assignment of leases and is guaranteed by the Building Venture.

           As  discussed in Note 3, on February 27, 1996, HPP'90, HWDC  and
HWFP,  Inc.  entered  into the First Amendment to  the  Third  Amended  and
Restated Agreement of Limited Partnership of Henderson's Wharf Marina, L.P.
by  which HWFP, Inc. redeemed its 50% limited partnership interest  in  the
Marina Venture in return for a $225,000 first mortgage note secured by  the
marina  property. The note bears interest at 7.50%, matures in March  2006,
and  requires  monthly principal and interest payments  in  the  amount  of
$2,086 commencing April 1996.

         Approximate  aggregate maturities of the deed of  trust  note  and
mortgage note for each of the next five years are as follows:

        Year Ending December 31, Amount

               1997              145,847
               1998              157,683
               1999              170,481
               2000              184,317
               2001              199,351

(5)     Transactions With Related Parties and Commitments

         On February 1, 1991, the Building Venture entered into a long term
property management and brokerage agreement (Management Agreement), an  inn
lease  (Inn  Lease) and a consulting agreement (Consulting Agreement)  with
HMI.  The Management Agreement originally expired on December 31, 1993  and
the  Inn  Lease  originally expired on December 31, 1995.   The  Management
Agreement  required the payment of management fees to HMI equal  to  6%  of
gross  rental  receipts,  as  defined  in  the  agreement.  The  Management
Agreement also required the payment of a one time lease up fee for  leasing
residential units during the lease-up phase equal to one month's rent.  The
Inn  Lease required the payments to HMI of 50% of the operating profit,  as
defined  in  the  agreement, relating to the 38  room  inn.  If  the  total
management fees earned based on the inn's gross rental receipts  were  less
than  $75,000 for any one year, then the Inn Lease  required a  payment  to
HMI  equal  to  the  difference between actual  management  fees  paid  and
$75,000.   The  Management Agreement and Inn Lease were terminated  by  the
Building Venture on July 31, 1993.

                                    10
                                     
(5)     Transactions With Related Parties and Commitments (Continued)

         The  Consulting  Agreement, which expired on  December  31,  1991,
required the Building Venture to pay HMI a $15,000 refinancing fee upon the
closing  of  any refinancing of the existing Building Venture's  financing.
The  Consulting Agreement also required the Building Venture to pay HMI  an
incentive  fee equal to 1% of the gross sales proceeds resulting  from  the
sale  of the building property to an unaffiliated third party buyer.  These
commitments survive the December 31, 1991 expiration date of the Consulting
Agreement and the termination of all other agreements with HMI (see below).
The  Building Venture paid the $15,000 refinancing fee to HMI in March 1996
as  a result of refinancing its purchase price promissory note as discussed
in Note 4.

         On  January 1, 1992, the Marina Venture entered into a  long  term
Property Management Agreement with HMI.  The agreement provided for payment
of  management fees to HMI equal to 9% of the Gross Operating Revenues,  as
defined in the agreement.

         Effective  July 31, 1993, the Ventures terminated their respective
Management  Agreements  and  Inn Lease (the  Contracts)  with  HMI.  As  of
December  31,  1993, HPP'90 had not reached an agreement  with  HMI  as  to
whether any additional payments were due under the Contracts as a result of
the  termination.  Consequently, HPP'90 was unable to  reasonably  estimate
amounts  due  to HMI, if any, and no liability was recorded as of  December
31, 1993.

         During  October  1994, HPP'90 and HMI agreed in  principle  to  an
agreement  whereby the parties would settle their differences  and  put  to
rest  all  further controversy and avoid substantial expense of  burdensome
and  protracted  litigation.  In  January  1995,  HPP'90  entered  into  an
agreement  on  behalf  of  the  Ventures to pay  HMI  contract  termination
settlement payments (Settlement Payments) totaling $271,108 which has  been
recorded  during the fourth quarter of 1994 and which has been included  in
accrued expenses and other liabilities as of December 31, 1995 and June 30,
1996.  The Settlement Payments required an initial payment of $36,000  that
was  paid on January 27, 1995 and monthly payments of $3,221 commencing  in
September  1995 through the earlier of September 2001 or the occurrence  of
certain  events  as defined in the agreement. The Settlement  Payments  are
secured by 100% of HPP'90's economic interest as a partner in the Ventures,
as  defined  in  the agreements; net sales and refinancing  proceeds;  cash
flow;  return of capital contributions; all of HPP'90's cash and marketable
securities in excess of $150,000; and all of the Ventures' cash  in  excess
of   the   greater  of  $200,000  or  reserves  required  by  lenders.   No
distributions to the partners of HPP'90 are permitted until all  Settlement
Payments are paid in full.  As of June 30, 1996, unpaid settlement Payments
included in accrued expenses and other liabilities totaled $202,900.

          On  August  23,  1993,  the  Ventures  hired  McKenna  Management
Associates,  Inc.  (McKenna) as the independent onsite property  management
company. The management agreement with McKenna originally expired in August
1995  and  was extended until October 31, 1995. The agreement required  the
payment of $9,000 per month for the first year and $7,650 per month for the
second year from the Ventures.

         On  November 1, 1995, the Building and Marina Venture entered into
property management contracts with Claremont Management Corporation  (CMC),
an unaffiliated Massachusetts corporation, to manage the apartment, inn and
marina operations. The property management contracts provide for payment of
management  fees  to CMC equal to 4% and 4.5% of apartment  and  inn  gross
receipts,  as  defined, respectively, and 9% of marina gross  receipts,  as
defined.  The  agreements expire on June 30, 1997,  and  are  automatically
extended  on  a year to year basis unless otherwise terminated as  provided
for  in the agreements. A condition of the agreements requires the Ventures
to  maintain with CMC, for the benefit of the Ventures, operating cash  and
contingency  reserves of $190,000 and $70,000, respectively. To  facilitate
the  transition of property management and through an arrangement with CMC,
McKenna continued to provide management services to the apartment, inn  and
marina operations through December 31, 1995.



                                    11
                                     
(5)     Transactions With Related Parties and Commitments (Continued)

         On  July  1, 1993, HPP'90 hired Portfolio Advisory Services,  Inc.
(PAS),  a  Massachusetts corporation, which is related to  BHP  II  through
certain  common  ownership  and management, to  provide  asset  management,
accounting and investor services.  The original contract was for  one  year
and  was extended through September 30, 1995.  PAS received no fee for  its
services,  however, it was reimbursed for all operating costs of  providing
these services.

        On October 1, 1995, HPP'90 engaged CMC to provide accounting, asset
management and investor services. CMC provides such services for an  annual
management fee of $38,400, plus reimbursement of all its costs of providing
these services. The initial term of the agreement expires on June 30, 1997,
and is automatically extended on a year to year basis unless terminated  as
provided  for in the agreement. For the period January 1, 1996 to June  30,
1996,  CMC  received  management fees of $19,200 and expense  reimbursement
totaling approximately $72,900.

(6)     Fair Value of Financial Investments

        The carrying amounts of cash, escrow deposits, accrued expenses and
other liabilities, and security deposits approximate their fair values  due
to  their  short  maturities.  The fair value  of the deed of trust note and 
mortgage   payable  are   deemed  equal to  their  carrying  amounts.    All
financial instruments are held for non-trading purposes.





























                                    12
        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                  MANAGEMENT'S DISCUSSION AND ANALYSIS OF

               FINANCIAL CONDITION AND RESULTS OF OPERATIONS

                               JUNE 30,1996

                                (UNAUDITED)


   Liquidity and Capital Resources. HPP'90 terminated its offering of Units
on  December 31, 1990, at which time Limited Partners had purchased  16,361
Units, representing gross capital contributions of $16,361,000.  As of June
30,  1996, the Partnership had invested an aggregate of $12,467,976 in  the
Building  and Marina Ventures.  The rehabilitation of the Building  Venture
was intended to qualify for Rehabilitation Tax Credits.

    Such  amount contributed in the Building and Marina Ventures represents
approximately  100%  of  the Limited Partners' capital  contribution  after
deducting  selling commissions, organizational and sales costs, acquisition
fees  and  reserves.   The  Partnership  does  not  anticipate  making  any
additional investments in new real estate.

    As  of June 30, 1996, the Ventures and HPP'90 had unrestricted cash  of
$344,745.    HPP'90's  cash  is  used  primarily  to   fund   general   and
administrative expenses of operating the public fund. The Ventures' cash is
used  to  fund  operating expenses of the properties. In addition,  to  the
extent  available,  the Building Venture distributes cash  to  HPP'90.  The
short term liquidity of HPP'90 depends on the Building Venture's ability to
make monthly distributions to HPP'90.

     Settlement  Payments  due HMI, that were negotiated  as  part  of  the
contract termination, are secured by 100% of HPP'90's economic interest  as
a  partner,  as defined in the agreements, in the Ventures; net  sales  and
refinancing  proceeds; cash flow; return of capital contributions;  all  of
HPP'90's  cash and marketable equity securities in excess of $150,000;  and
all  of the Ventures' cash in excess of the greater of $200,000 or reserves
required by its lenders.

   Cash flow generated from the Partnership's present investment properties
and  the  Partnership's  share  of  the proceeds  from  the  sale  of  such
properties is expected to be the source of future long-term liquidity.

    Results  of  Operations.  The Partnership incurred  a  net  loss  under
generally  accepted accounting principles of ($206,867) for the six  months
ended  June  30,  1996,  which includes depreciation  and  amortization  of
$283,783.

    The Building Venture has been fully operational during the entire year,
and  the  Marina Venture had available approximately 240 slips for use,  of
which  a  minimal  number of slips were fully operational offering  various
utility  hook-ups.  The results of the Partnership's operations  in  future
years  should be comparable to 1995 numbers provided the Ventures are  able
to maintain greater than 90% average annual occupancy in the Apartments and
60%  average  annual occupancy in the Inn. Expense levels  should  increase
with  the  rate of inflation but, it is anticipated that the monthly  rents
and the average daily room rate revenues should increase accordingly.

    The occupancy of the apartments has increased from previous years as  a
result  of management's decision to enter into more traditional long  term,
annual leases. In addition, a market study of the competition was prepared,
and  the  Building Ventures' monthly rental rates were adjusted to  reflect
where the actual rates should be for a property located in the Fells Point,
Baltimore  neighborhood. The average economic occupancy for the residential
units was approximately 94% for the quarter ended June 30, 1996, which will
be indicative of the expected occupancy levels in the future.

    The average occupancy for the Inn for the quarter  ending June 30, 1996
was  79%.   The  Inn's increased occupancy, which has improved  over  prior
years,  was  due  in part to a direct competitor temporarily  discontinuing
operations for major renovations. The Building  Venture has engaged a  full
time  hospitality manager to generate new business from previously untapped
markets.  In  addition,  the hospitality market nationwide  experienced  an
increase  from  previous  years. Management is projecting  60%  or  greater
average  occupancy  for  the Inn for calendar year 1996  and  is  expecting
occupancy for the Inn to fluctuate around that same level in future  years,
depending upon market conditions from year to year.

                                    13
        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                  MANAGEMENT'S DISCUSSION AND ANALYSIS OF

        FINANCIAL CONDITION AND RESULTS OF OPERATIONS  (CONTINUED)

                               JUNE 30, 1996

                                (UNAUDITED)


    The  occupancy  in both the Apartments and the Inn has shown  a  steady
increase over the past three years. This increase is due primarily  to  the
decision  to  go with more traditional long term leases and  an  aggressive
marketing campaign which is administered onsite. The Apartments and the Inn
should  continue  to operate at greater than 90% and 60%, respectively,  in
future years. The 1996 budget has been projected to indicate these levels.

    Rental and related income increased for the three and six months ended
June 30, 1996 as compared to the same periods in 1995, primarily due to
increases in rental rates at the Inn and the Apartments.  There was no
significant changes in occupancy for the Inn and the Apartments through the
second quarter of 1996 as compared to that of 1995.  Operating and
administrative expenses for the three and six months ended June 30, 1996
increased in comparison to the same period in 1995 due to additional fees
and other administrative expenses associated with the engagement of an
independent third party to perform asset management, accounting and 
investor services for HPP'90. Interest expense for the six months ending
June 30, 1996 has increased from the same period in 1995 due to additional 
interest expense paid at the refinancing. However, for the three months
ending June 30, 1996, interest expense has decreased from the same period
in 1995 due to the fact that the new loan has a lower interest rate and is
amortizing over a 20 year schedule.

    During  1994,  HPP'90  entered  into an agreement  to  make  settlement
payments  to  HMI totaling $271,108 which has been recorded in  the  fourth
quarter  of 1994.  As of June 30, 1996, unpaid settlement Payments included
in accrued expenses and other liabilities totaled $202,900.

          On  February 27, 1996, HPP'90 obtained a $6,000,000 deed of trust
note  with  a  third  party lender which provided funds  for  the  Building
Venture  to  refinance  the  outstanding balance  of  the  seller  financed
purchase  money note totaling $5,590,418, to pay $109,583 to the seller  in
release  of the contingent purchase price promissory note, and to  purchase
in  part  three  condominium units and parking spaces  owned  by  unrelated
parties for an aggregate purchase price of $333,429. The deed of trust note
bears  interest  at  7.85%  and  requires monthly  principal  and  interest
payments  in  the  amount of $49,628 commencing in  April  1996.  The  note
amortizes  over a 20 year schedule and all remaining unpaid  principal  and
interest is due in March 2006. Under the deed of trust note, the lender has
the option with six months written notice to call amounts outstanding under
the  deed of trust note at the end of ten years or anytime thereafter.  The
deed of trust note is secured by the Building Venture's property, rents and
assignment of leases and is guaranteed by the Building Venture.

    The  Marina Venture requires substantial rehabilitation to become fully
operational.   After  evaluating the marina over the past  few  years,  the
Marina  Venture determined that it was in its best interest to  restructure
the Marina Venture before proceeding with the development of the marina.

    Based  on management's analysis completed during the fourth quarter  of
1992 which considered the fair market value of marina land and improvements
determined  by independent appraisal and priority distribution of  proceeds
from  capital  transactions as provided for in the Marina  Venture's  Third
Amended  and  Restated  Agreement of Limited Partnership,  the  Partnership
reserved   $845,672  against  its  investment  in  the  marina   land   and
improvements as of December 31, 1992.

   On February 27, 1996, HPP'90, HWDC and HWFP, Inc. entered into the First
Amendment   to  the  Third  Amended  and  Restated  Agreement  of   Limited
Partnership of Henderson's Wharf Marina, L.P. by which HWFP, Inc.  redeemed
its 50% limited partnership interest in the Marina Venture in return for  a
$225,000 first mortgage note secured by the marina property. The note bears
interest  at  7.50%, matures in March 2006, and requires monthly  principal
and  interest payments in the amount of $2,086 commencing April 1996. As  a
result  of  the redemption of HWFP's interest, HPP'90's limited partnership
interest  in  the Marina Venture increased to 98% and HWDC  received  a  1%
limited  partnership  interest and maintained its  1%  general  partnership
interest in the Marina Venture.









                                    14
        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                  MANAGEMENT'S DISCUSSION AND ANALYSIS OF

        FINANCIAL CONDITION AND RESULTS OF OPERATIONS  (CONTINUED)

                               JUNE 30, 1996

                                (UNAUDITED)


    Inflation and Other Economic Factors. Recent economic trends have  kept
inflation  relatively  low  although  the  Partnership  cannot   make   any
predictions as to whether recent trends will continue.  The assets  of  the
Partnership  are  highly leveraged in view of the fact  that  the  Building
Venture is subject to a substantial deed of trust note.  Operating expenses
and  rental revenues of each property are subject to inflationary  factors.
Low rates of inflation could result in slower rental rate increases, and to
the  extent  that  these  factors are not offset by  similar  increases  in
property  operating  expenses (which could arise as  a  result  of  general
economic  circumstances such as an increase in the cost of energy or  fuel,
or  from  local economic circumstances), the operations of the  Partnership
could  be adversely affected.  Actual deflation in prices generally  would,
in effect, increase the economic burden of the mortgage debt service with a
corresponding adverse effect.  High rates of inflation, on the other  hand,
raise the operating expenses for projects and to the extent they cannot  be
passed  on  to  tenants  through higher rents, such  increases  could  also
adversely  affect  Partnership operations.  Although, to  the  extent  rent
increases are commensurable, the burden imposed by the mortgage leverage is
reduced with a favorable effect.  Low levels of new construction of similar
projects  and high levels of interest rates may foster demand for  existing
properties through increasing rental income and appreciation in value.
































                                    15
        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                        PART II - OTHER INFORMATION

                               JUNE 30, 1996


Item 1.   Legal Proceedings - Not applicable.

Item 2.   Changes in Securities - Not applicable.

Item 3.   Defaults Upon Securities - Not applicable.

Item  4.  Submission  of  Matters  to a Vote  of  Security  Holders  -  Not
applicable.

Item 5.   Other Information - Not applicable.

Item 6.   Exhibits and Reports from Form 8-K

        (a)  Exhibits
             None.

        (b)  Reports from Form 8-K
             None.
































                                    16
        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                                SIGNATURES



Pursuant  to  the  requirements of Section 13 or 15(d)  of  the  Securities
Exchange  Act  of 1934, the Registrant has duly caused this  report  to  be
signed on its behalf by the undersigned, thereunto duly authorized.

                      HISTORIC PRESERVATION PROPERTIES 1990
                      L.P. TAX  CREDIT FUND

                      By:  Boston Historic Partners II Limited Partnership
                           General Partner

                           By:  BHP II Advisors Limited Partnership
                                General Partner

                                By:  Portfolio Advisory Services II, Inc.
                                     General Partner

Date:  August 14, 1996               By:    /s/Terrence P. Sullivan
                                          Terrence P. Sullivan,
                                          President

                                and


Date:  August 14, 1996               By:    /s/Terrence P. Sullivan
                                     Terrence P. Sullivan,
                                     General Partner


























                                    17