Presentation is loading. Please wait.

Presentation is loading. Please wait.

How can we get from vacant to vibrant? Federal, state and local assistance.

Similar presentations


Presentation on theme: "How can we get from vacant to vibrant? Federal, state and local assistance."— Presentation transcript:

1 How can we get from vacant to vibrant? Federal, state and local assistance

2  Sets the federal policy for preserving our nation's heritage  Establishes a federal-state and federal-tribal partnership  Establishes the National Register of Historic Places and National Historic Landmarks Programs  Mandates the selection of qualified State Historic Preservation Officers  Establishes the Advisory Council on Historic Preservation  Charges Federal Agencies with responsible stewardship  Establishes the role of Certified Local Governments within the States.

3  Start with local contacts. Most federal and state funds are funneled through local preservation agencies. (St. Louis Cultural Resources – 314-657-3700)  No local contact? Call the State Historic Preservation Office (573-751-7858) and ask for assistance.  Still stuck? Call Ruth Keenoy (314-421-6474) or email: rkeenoy@landmarks-stl.org rkeenoy@landmarks-stl.org

4  Most historic preservation funding goes to properties that are eligible for - or listed in - the National Register of Historic Places (NRHP).  Single properties can be listed in the NRHP, as can multiple properties, which are recognized as National Register Historic Districts.  Some communities, like St. Louis City, have local historic districts.

5 National Register of Historic Places Keep in Mind... Listing a building on the National Register does not place any requirements or restrictions on a private owner. Placing a property on the National Register of Historic Places does not trigger any local review of building alterations unless federal funds are used or demolition is involved. Restrictions may be in place if a property is within a neighborhood protected by local preservation ordinances.

6

7 City and Local Historic Districts  St. Louis has 17 local historic districts, eight of which are Certified Local Historic Districts.  Certified Local Historic Districts share the same benefits as National Register Historic Districts.  Certified Local Historic Districts must comply with local ordinances and design standards. Within the City of St. Louis, locally designated historic districts are created by ordinance at the request of an alderman/woman or property owners in the district. Each district ordinance has a unique set of rehabilitation and design standards developed by residents.

8  Benefits include protection from federally funded projects that can negatively affect historic resources.  Properties determined eligible for the National Register of Historic Places by the State Historic Preservation Office (or that are in certified local historic districts) qualify for federal and state historic preservation tax credits.  Certified Local Historic Districts  Benton Park  Central West End  Compton Heights  Hyde Park  Shaw Neighborhood  Skinker-DeBaliviere-Caitlin Tract-Parkview  Soulard Neighborhood  Visitation Park

9  Find out if your property is eligible for the National Register of Historic Places (NRHP) – your local and state preservation contacts can help you.  Properties identified as “eligible” for the NRHP receive the same protections as do properties that are listed on the NRHP.  To receive historic tax credits, however, properties must be formally listed on the NRHP (or in a certified local historic district).

10 FEDERAL  20% income tax credit.  Limited to income-producing properties (commercial, industrial, agricultural and residential rental)  Minimum investment during rehab is $5,000 or the adjusted basis of the property, whichever is largest.  Credits may be transferred to an investor who becomes an “owner” (LP/LLC).

11  25% income tax credit.  Includes private residential properties.  Minimum investment is 50% of the basis (i.e., amount paid for the property or its fair market value when acquired).  Credits may be transferred or sold to an investor.

12  The Secretary of the Interior’s Standards for the Treatment of Historic Properties are the “ten commandments” for historic tax credit projects.  Bottom line: repair and restore (do NOT replace) whenever possible.  Available online at: http://www.nps.gov/tps/standard s/four-treatments/treatment- guidelines.pdf

13 ELIGIBLE EXAMPLES  Restoration work meeting the Secretary of Interior’s Standards of Rehabilitation  Architectural and engineering fees  Legal expenses  Development fees  Construction-related costs if added to the basis of the property (for example, you may include installation of a HVAC system). NON-ELIGIBLE EXAMPLES  Acquisition costs  Furnishing costs  New additions that expand the size of the building  New building construction  Parking lots  Sidewalks  Landscaping

14 FEDERAL HISTORIC TAX CREDITS... 2014  Total rehabilitation costs in Missouri - $172.3 million; Illinois – $807.4 million; nationally $4,804.2 million  Credited for creating or retaining jobs - 2,952 in Missouri, 11,903 in Illinois and 77,762 nationally. [source: Rutgers, 2015] STATE HISTORIC TAX CREDITS (MISSOURI)... 2009  43,150 new or retained jobs with an average salary of $42,732  New sales/use and income tax revenue to state and local governments - $669,872,192  Private investment estimated as $2.9 billion. [source: SLU, 2010]

15

16  HPF grants are awarded to the State Historic Preservation Office (SHPO) to support historic preservation activities.  HPF funds also available for tribal preservation, underrepresented communities and disaster recovery.

17  Missouri has 57 CLG communities; Illinois has 79.  St. Louis City is a CLG as are some county communities such as Kirkwood, Ferguson and University City.  Federal law requires that a minimum of 10% of the HPF grants administered by the SHPO must be awarded to CLGs.  HPF grants fund architectural / historical surveys, National Register nominations (historic districts), design review guidelines, long-range preservation planning projects and outreach/education projects.

18  Provide assistance to community-based organizations in many areas – one of which is physical revitalization.  The Missouri Department of Economic Development which oversees the program, offers free workshops.  Benefits/eligible uses include up to 70% tax credits for qualified contributions to an approved NAP project.  Distressed communities receive preference in selection process.

19  Provides financial incentives for the redevelopment of commercial/industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years.  May receive tax credits for up to 100% of the cost of remediating the project property.  Typically focus on publicly- owned sites but privately- owned projects with significant potential to create jobs and increase tax base can also receive technical assistance.

20  CDBG funds can be used for preservation and restoration of historic properties in low- income neighborhoods.  Usually these activities include rehabilitation, preservation and selective restoration of publicly or privately owned properties.  New construction of non- residential buildings, economic development assistance to for-profit businesses, and energy conservation are also among eligible activities.

21  Provide incentives for rehabilitation and construction of owner-occupied homes in distressed communities.  Available for any taxpayer who incurs eligible costs for a new residence or rehabilitates a residence for owner occupancy (if within an eligible area).  State tax credits for homeowners, up to 35% on eligible costs.  Lottery method used to select who will receive credits (limited funds available).

22  Eligible expenses for new construction include:  Property acquisition  Development  Site preparation  Surveys  Architectural / engineering expenses  Construction  Utility extensions on the property  Sidewalks and driveways directly attached to the property  Eligible expenses for rehabilitation include:  Site preparation  Surveys  Architectural / engineering expenses  Construction  Modification  Expansion  Remodeling  Structural alteration  Replacements/alterations  Utility extensions  Sidewalks and driveways

23

24

25

26

27

28

29

30

31  Historic preservation is good for the economy.  Dozens of studies have been conducted by different analysts, using different methodologies.  The results of those studies are remarkably consistent. A positive impact of historic preservation on the economy has been documented in six broad areas: ▪ 1) jobs ▪ 2) property values ▪ 3) heritage tourism ▪ 4) environmental impact ▪ 5) social impact ▪ 6) downtown revitalization.

32  Every year, approximately 1 billion square feet of buildings are demolished and replaced with new construction in the United States.  Reuse of buildings with an average level of energy performance consistently offers immediate climate- change impact reductions compared to more energy- efficient new construction. [Source: Preservation Green Lab / National Trust for Historic Preservation, 2011]

33  Tuesday, November 17  5:00 p.m.  Divoll Library (at Grand and Carter)  Presenter: Bill Hart, Executive Director of Missouri Preservation  FREE!


Download ppt "How can we get from vacant to vibrant? Federal, state and local assistance."

Similar presentations


Ads by Google