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File #: 21-4401    Version: 1 Name: HLC#21-014: Discussion regarding Preservation Incentives
Type: Discussion Item Status: Consideration
File created: 11/3/2021 In control: Historic Landmark Commission
On agenda: 11/11/2021 Final action: 11/11/2021
Title: HLC#21-014: Discussion regarding Preservation Incentives
Attachments: 1. Macon Downtown Facade Loan.pdf, 2. Columbus Revolving Loan Program.pdf, 3. Wichita Revolving Loan Program for Historic Properties.pdf, 4. Preservation Utah - Low-Interest Loans.pdf, 5. Dubuque Historic Preservation Revolving Loan Fund.pdf
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Title
HLC#21-014: Discussion regarding Preservation Incentives

Description/History
One of the duties of the Historic Landmark Commission (Commission) is to recommend programs that promote the preservation of Mansfield’s historic resources. Preservation incentives encourage private property owners to preserve or rehabilitate historic buildings.

As the Commission is aware, the proposal for a Historic Preservation Façade Grant was not funded in this year’s budget. The Historic Preservation Tax Exemption program is still in effect, but it is underutilized and provides a limited return to a property owner spread over a 10-year period. Staff has been researching different preservation incentive programs that do not rely on city funds.

One option is outside grants, where funds are provided through private, state or federal sources. Many of these grants can only be obtained for properties that are listed on the National Register of Historic Places (NR) or are eligible to be listed. This presents a difficulty for some properties in Mansfield where the historic fabric of the structure has been so altered that the building is no longer eligible for NR listing. An example is the Dennis Mahoney Building or the Gaulden House.

Another possibility is creating a preservation revolving loan fund either separately or in partnership with one of Mansfield’s non-profit preservation groups. A revolving loan fund is a pool of capital used for preservation activities with the restriction that the monies are returned to the fund to be reused for another preservation project.

In particular, Staff is reviewing revolving loan funds for historic façade improvements. Under this type of program, the revolving fund provides no-interest or low-interest loans for exterior improvements that enhance the exterior appearance of historic buildings. In exchange, the borrower may be asked to seek local landmark designation, NR designation, agree to a façade easement or offer the lender first rig...

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