Vacant Properties: Opportunities of Historic Proportions

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Vacant PropertiesOpportunities of Historic
Proportions

• Royce A. Yeater, AIA
• Midwest Director

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Vacant and Abandoned Buildings are in designated
or potential Historic Districts

• Involve Preservation Partners
• Survey and Document
• Preservation Tools
• Preservation Incentives
• Healthy Diverse Neighborhoods

Vacant Properties Opportunities of Historic
Proportions
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Survey areas of abandonment

• Incomplete in most cities
• Historic Preservation Commission (HPC)
• Awakens Tools of some Local Preservation
  Organizations (LPO)
• Avails Preservation Incentives

Vacant Properties Opportunities of Historic
Proportions
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Document historic resources

• Integrate historic status into Property
  Information Systems
• Green values in embodied energy
• Local Preservation Organization as Receiver
  / Developer

Vacant Properties Opportunities of Historic
Proportions
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Preservation Tools

• Code Enforcement - care required in
  enforcement actions - application of Smart
  Codes
• Building Banks (as Land Banks) -
  Mothballing - Inspection and Management
  - Receiverships

Vacant Properties Opportunities of Historic
Proportions
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Preservation Tools

• Marketable Identity for Neighborhood -
  Character Setters / Quality Setters -
  Design Controls for Rehabilitation and
  Infill Construction
• Marketability of Historic Property -
  Historic Designation Rising Value - Web
  listing services - Promotional efforts by
  LPOs

Vacant Properties Opportunities of Historic
Proportions
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Preservation Incentives

• Historic Rehabilitation Tax Credits - 20
  Federal (National Register) - 10 Federal
  (before 1936) - ?? State

Vacant Properties Opportunities of Historic
Proportions
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Preservation Incentives

• Historic Rehabilitation Tax Credits - 20
  Federal (National Register) - 10 Federal
  (before 1936) - ?? State - 5
  year convertible - Renewable -
  Enhancements under consideration

Vacant Properties Opportunities of Historic
Proportions
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Preservation Incentives (proposed)

• HR 3159 Community Restoration/Revitalization
  Act - Aligns credit calculations with
  LIHTC - 40 for smaller projects (lt2M)
  - 10 credit to housing, gt50 years -
  Allows leases by non-profits - Targets
  disinvested areas - Allows conversion to
  condominiums

Vacant Properties Opportunities of Historic
Proportions
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Preservation Incentives

• Revolving Loan Funds - National Trust
  - LPOs - Intermediaries -
  Strong CRA support
• Property Tax Freeze
• Facade Easements

Vacant Properties Opportunities of Historic
Proportions
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Healthy Diverse Neighborhoods

• Commercial Development - Main Street
  Approach (Daytons Wright/Dunbar Area) -
  Livability of Mixed Use - Main Street
  Session here
• Schools - Quality / Proximity / Scale
  - Historic Neighborhood Schools Initiative

Vacant Properties Opportunities of Historic
Proportions
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Healthy Diverse Neighborhoods

• Diversity - Historically speaking, until
  the 1960s, neighborhoods were economically
  diverse, and even racially and ethnically
  diverse, in many communities. Wealthy,
  professional and servant classes lived in modest
  localized hierarchies to assure ready
  availability of goods and services. - That
  historic configuration of neighborhoods is the
  best model for the diversity we seek today.

Vacant Properties Opportunities of Historic
Proportions
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www.nationaltrust.org
Vacant Properties Opportunities of Historic
Proportions
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Vacant Properties Opportunities of Historic
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Vacant Properties Opportunities of Historic
Proportions