Sources of Funding for Historic Building Redevelopment

Preservation Projects need funds for various purposes, and various grant programs fund different needs Predevelopment / Planning Phase Construction Project management Operating Endowment

Eligibility varies by Ownership A new Abbott Library would be a municipal project undertaken by the town of Sunapee Friends of Abbott library could be a non- profit partner Non-profit Municipal Commercial

Common grant sources for similar municipal/non-profit projects in NH LCHIP Mooseplate CDFA, CDBG NH Charitable Foundation National Trust for Historic Preservation Scenic Byway Save America’s Treasures Preserve America USDA: Rural development Transportation Enhancement grants

LCHIP Planning and design as well as Bricks and Mortar funding Municipalities and non-profits are eligible; state register listing required Requires 1:1 match Grant range $10,000 - $450,000 May receive funding in more than one grant round $85,000 to Cook Memorial Library, Tamworth $ 5,000 to Fuller Library, Hillsborough $75,000 to Gregg Free Library, Wilton

Conservation License Plate or “Mooseplate” Grants Funds the preservation of significant publicly-owned historic resources Up to $10,000; no match required Resource must be on the State Register Project must show community support One grant round per year Two-year time frame for completion

CDFA Tax Credit Program Tax credit program (CDIP) awards tax credits to non-profits or municipalities that can be “sold” to NH businesses who apply it against their business profits tax, business enterprise tax, and/or the insurance premium tax. Must demonstrate benefits to low- moderate income population in the area 25% retained by CDFA i.e. Business donates $10,000 on behalf of an approved project; they get %7,500 tax credit. Also eligible for treatment as a federal charitable contribution.

Community Development Block Grant To strengthen cities and towns Benefit low and moderate income people. NH gets about $10 million per year from HUD for CDBG Programs: Housing, Public Facilities, Economic Development, Feasibility Studies, and Emergencies and Unanticipated EventsHousing, Public FacilitiesEconomic DevelopmentFeasibility StudiesEmergencies and Unanticipated Events Since 1983, over 773 grants and over $188 million statewide

New Hampshire Charitable Foundation Community Impact grants require 1:1 match Grants up to $20,000 Capacity-building activities such as help in fundraising efforts (Portsmouth Public Library) A unique project that furthers the organization’s mission (no rehab $)

National Trust for Historic Preservation Project planning or education for preservation Up to $10,000 Mitchell Fund focuses on Restoration or preservation of important interior features (horse ramp might qualify)

Scenic Byways Discretionary Grants Merit-based; reimbursement program Must increase the quality of the byway traveler’s experience (overlook, rest area, interpretive facilities) Should be free of charge and accessible New priority for “livable communities” federal share 80% No limit, but usually $500,000 for the whole state

Save America’s Treasures Federal program for bricks and mortar National Register listing required Up to $500,000; important to have support of congressional delegation Awards or earmarks Recommended to be eliminated in upcoming budget

Preserve America designations communities that protect and celebrate their heritage (Keene, Hooksett in NH) use their historic assets for economic development and community revitalization encourage people to experience and appreciate local historic resources through education and heritage tourism programs

Preserve America grants support heritage tourism and innovative approaches to the use of historic properties as educational and economic assets complement bricks and mortar Save America’s Treasures grants fund research and documentation, interpretation and education, planning, marketing, and training. $20,000 to $250,000; match required

USDA- Rural Development Community Facilities Loans and Grants Funds the development of essential community facilities--health care, public safety, and community and public services. Must serve low-income rural communities of under 5000 people Rolling applications Grants up to 75% of project costs

Transportation Enhancement Grants Funds rehabilitation of historic transportation buildings or historic preservation along transportation routes Reimbursement program Funds 80% of project, typically in $200,000 to $300,000 range ($2.8 – 3.2 m per year) Must have support of Regional Planning Commission

Other sources of funds Town Private contributions Corporate contributions Private foundations Loans Tax incentive programs ARRA or Stimulus funding opportunities (weatherization and energy efficiency) Fund-raising events Bequests: especially to build endowment

Institute of Museum & Library Services No longer has grants for library construction NH State Library has no programs for library construction either

Belmont Mill, Belmont

Belmont Mill – 1996/98 $1,000,000 CDBG Approx. $200,000 in local funds Force account work by town crews on site work Ownership: Town of Belmont, with leases to tenants

Eagle Block, Newport

Eagle Block - Newport, NH $38 KPrivate Citizens, plus labor $1M CDBG - NH $450 K CDFA $276 K Save America’s Treasures $215 K CDBG - US $135 K LCHIP $100 K DRED $90 K USDA $10 K PSNH TOTAL = $2.224 M

The Case for Supporting Preservation Investment in downtowns and village centers leads to economic growth and discourages sprawl Keeps more money circulating locally Re-using buildings keeps material out of landfills and reduces new consumption, often of synthetic or toxic materials Maintains community character

Downtown Tax Incentive RSA 79-E Encourages investment in downtowns and village centers thru rehab of under- utilized buildings Promotes strong local economies and smart, sustainable growth Must be adopted by individual towns Gives a period of temporary tax relief for rehabs that provide public benefit

How the NH Preservation Alliance Can Help Advocacy, education, leadership resources Seven to Save listing demonstrates high priority statewide Letters of support for certain grant applications Small grants program for building assessments or second opinions

For more information Maggie Stier, Field Service Representative N.H. Preservation Alliance in partnership with the National Trust for Historic Preservation PO Box 268, Concord, NH ext.14 (cell)