Town of Oak Ridge Announces New CORE Grants
Oak Ridge announced today the launch of its new CORE Initiative. CORE—Conserving Oak Ridge through Easements—is an innovative program with two goals: to educate property owners about how easements can preserve open space and historic structures, and to offer grant funds to offset the cost of putting such easements in place.
Oak Ridge’s CORE Initiative has been developed in collaboration with noted preservation organizations Piedmont Land Conservancy (PLC) and Preservation North Carolina (PNC). While both organizations also work directly with individuals, Oak Ridge’s CORE initiative positions the town as an advocate for residents and a unique source of funding not available elsewhere.
CORE Grants can cover up to 100% of the costs for either PLC or PNC to monitor a property, in perpetuity, for compliance with the easement terms. These costs can range from $5,000 to $15,000, depending on the property size and complexity of easement terms. CORE grants can also offset other costs typically borne by the resident for surveys, recording fees, and the like.
Understanding how conservation easements work is the first step for an interested resident. Conservation easements are legal agreements that restrict changes to the future use or appearance of a property. For example, open space easements can allow trails and recreational use, protect landscape features, and limit further development. Historic structure easements can allow interior changes and modern additions, while protecting historic exteriors and prohibiting demolition. Easements are voluntary and can’t be made without the property owner’s active participation and approval; they remain in effect regardless of changes in ownership.
The CORE Initiative grew out of the Town Council’s Strategic Plan (2018), which prioritized preservation of the town’s open spaces and historic structures. The CORE Grants were developed by a working group and are now managed by a standing Conservation Easement Committee comprised of five residents. With $20,000 currently in hand, the committee hopes to have up to $40,000 for future CORE Grants by next year. Grants will be awarded by the town, following recommendations from the committee.
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Information about Oak Ridge’s new CORE Initiative is available online at www.oakridgenc.com (see Boards and Committees/Conservation Easement Committee/Core Initiative). For questions regarding the new initiative, contact Planning Director Sean Taylor or Town Clerk Sandra Smith at 336-644-7009, or email email@example.com.
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Despite its modest population of 7,500, Oak Ridge continues to be a leader in developing strategies to preserve its small-town character, natural beauty, and historic resources. The new CORE Grants represent the second of two innovative grant programs developed to serve this small community in northwest Guilford County. Launched in 2016, Oak Ridge’s Historic Heritage Grant program provides grants to preserve the local historic structures; to date, grants totaling $22,800 have leveraged an additional $102,600 in matching funds, for a total of $125,400 invested in 16 local preservation projects. In yet another new initiative, Oak Ridge recently unveiled a new Village Core Design Guidebook designed to attract and direct innovative commercial development that is consistent with the town’s rural and historic character.
Preservation NC (PNC) has launched a new traveling exhibit and education program, We Built This: Profiles of Black Architects and Builders in North Carolina. “The project is actually a follow-up to an earlier exhibit that PNC released in 1998 that is still traveling around the state today,” says Julianne Patterson, outreach manager for Preservation NC. “The original exhibit covered material from the inception of the colony up until the Civil War. There was always a plan for an expanded project that would go beyond the Civil War, but the real impetus for this reboot is all the new research and information about specific individuals that has been discovered in the last 20 years.”
Through the exhibit, a docuseries and a published book, We Built This profiles more than two dozen individuals who constructed and designed many of North Carolina’s most treasured historic sites over more than three centuries. “The sooner people start to learn more about the skilled enslaved and free Black builders that may have been involved in constructing the buildings they live in, work in, learn in or walk by every day, the better,” says Patterson.
In conjunction with We Built This, PNC has created a new African American Building Preservation Fund. These funds will be used specifically for preserving threatened landmarks of African American heritage, such as schools, churches, lodges, businesses or homes of prominent Black leaders. “Historically African American neighborhoods, such as those built for middle-class Blacks between WWII and the passage of the Fair Housing Act, as well as Mid-century Modern homes and other landmarks of the state’s first generation of registered Black architects, are now particularly vulnerable to new development in North Carolina’s larger cities,” says Patterson. “PNC has recognized and preserved sites of Black history for decades, so this isn’t a new initiative as much as it’s establishing that this is a priority for us. This targeted funding will enable PNC to proactively seek out opportunities, as well as act quickly in case of emergency. The need is immediate, as both urban development and rural disinvestment threaten many buildings with African American associations.”
By Emma Castleberry – The Laurel of Asheville
Without tax breaks, downtown Durham’s renaissance, with its swanky hotels and new skyscrapers, possibly wouldn’t have happened.
Yet, one of the main tax breaks used in Durham’s redevelopment could be facing the chopping block if the U.S. House of Representatives tax reform bill makes it to President Donald Trump’s desk for a signature.
The House GOP’s tax plan would eliminate federal investment tax credits for historic preservation projects as part of the Republican-led attempt to simplify the country’s tax code.
The potential elimination of the the historic tax credit quickly was met with dismay from preservation groups across the country and from some politicians.
“At a time when federal funding for infrastructure and housing is continually squeezed, the last thing Congress should do is push through a flawed tax plan that would hurt working families, hamstring our state and local governments, and destroy our ability to leverage private investment for projects that benefit the public,” said U.S. Rep. David Price, a Democrat from Chapel Hill.
As of the end of 2016, three of the 10 biggest historic tax rehabilitation projects across the state of North Carolina were in downtown Durham, according to Downtown Durham Inc. Others in North Carolina include Asheville’s Grove Arcade and Winston-Salem’s Reynolds Building.
The three largest projects in Durham were the American Tobacco Campus, which cost $167 million, the $81 million redevelopment of the old Liggett & Myers tobacco factory and the $38 million transformation of the Hill building into the 21C Museum Hotel.
(The Herald Sun, 11/14/17)
Rehabilitation and repurposing of the Historic Loray Mill, converting and renewing the abandoned Gaston Memorial Hospital for senior housing, and restoration of the Armstrong Apartments were all made possible by Historic Rehabilitation Tax Credits for investment properties. But now, this essential preservation and community reinvestment tool is planned for extinction by the GOP tax bill.
I have firsthand knowledge of the financial structure of these private redevelopment projects and can assure the reader that neither would have happened without multiple sources of financing, including necessary private equity induced by Historic Tax Credits. Each of these heritage buildings would have long ago gone to the landfill in the absence of this reinvestment tool. Instead today, they are preserved for generations to come, serving new community and economic purposes, and are playing a key role in revitalizing areas of our community which have been overlooked by the market.
Historic tax credits are necessary because they mitigate higher costs and greater design challenges, and most importantly, provide equity to help fill the financial gap needed in weaker market locations.
Beyond preserving the historic legacy of our communities, historic preservation projects have a better economic impact than greenfield development. Preservation project costs average about 60 percent labor and 40 percent materials, while new construction averages about 60 percent materials and 40 percent labor. More jobs are generated, plus materials are more likely to be locally sourced, consequently 75 percent of their economic benefits are locally retained. As private developments they contribute significantly to local tax coffers.
But, contrasted with greenfield developments, they demand little in added municipal services because they typically occur where such services and infrastructure are already present. Historic tax credits are not only a winner at the local level, but also at the state and the national level. They return to the U.S. Treasury roughly $1.25 for every tax dollar invested. Results include $131 billion in private capital investment, 2.4 million jobs, and preservation of 42,293 buildings important to local, state and national heritage. If we want to grow our economy through tax reform, eliminating the Historic Preservation Tax Credit is heading the wrong way. We must reinvest in the physical assets of our center cities, our main streets, our small towns and the built heritage embodied on our community landmarks — that which makes each community special and defines its history. This will help grow our economy and return significant dividends to our taxpayers.
Preservation tax credits involve over $100 million in Gaston investment including other projects such as Mayworth School Senior Apartments in Cramerton, Dallas High School Apartments, and buildings in the downtowns of Gastonia and Belmont. Communities across North Carolina have seen over 653 projects, totaling $1.8 billion in investment, producing 31,000 jobs and providing $392 million in taxes. We cannot let this policy so vital to communities be eliminated, for there will be more projects to come, whether it’s repurposing of more old factory buildings, iconic downtown structures, or plans now before our communities.
So, it is no wonder Historic Preservation Tax Credits have enjoyed broad bi-partisan support. When President Regan signed a law making this policy permanent, he put it well, “Our tax credits have made the preservation of our older buildings not only a matter of respect for beauty and history, but of economic good sense.”
If you agree that Historic Preservation Tax Credits are good policy, act today to call or email Congressman Patrick McHenry and Sens. Burr and Tillis.
Jack Kiser is a resident of Gastonia and has long been involved in historic preservation.
(Gaston Gazette, 11/9/17)
Natural and Cultural Resources Secretary Susi Hamilton and others called for defending the federal historic preservation tax credits at a Nov. 8 fundraiser for the Historic Wilmington Foundation.
Guests at the Historic Wilmington Foundation’s 2017 fundraising banquet heard a call to action Wednesday to support federal tax credits for historic preservation.
Susi Hamilton, N.C. secretary for natural and cultural resources, noted that the credits are targeted for repeal in the current tax plan being promoted by congressional Republicans.
Since 1998, Hamilton said, the credits had been used in 158 separate income-producing historic preservation projects in New Hanover County alone, resulting in $36.9 million in private investment.
Historic preservation “is big business,” she said. “It’s big business in North Carolina and our entire region.” The tax credits had been used for projects in 90 of North Carolina’s 100 counties, she added.
“It’s time to reach out,” Hamilton said. “We need to defend our small portion of this much larger (tax) plan.”
The federal credits, she noted, can be used only for work on non-residential properties and are separate from North Carolina’s own state tax credit program.
Enacted in 1976, the federal credits have previously enjoyed bipartisan support, Hamilton said. Former President Ronald Reagan was a major proponent of the program.
George Edwards, the Historic Wilmington Foundation’s outgoing executive director, urged members and guests to write their congressmen in support of the credits.
(Star News, 11/8/17)
Has Hillsborough’s Colonial Inn finally found a new owner?
The “Under Contract” sign currently posted above the For Sale sign along the historic property at 153 W. King Street in downtown Hillsborough says so.
So does Seagle & Associates, a real estate brokerage based in Fuquay-Varina that currently holds the Inn’s listing. A representative of the company confirmed Monday morning that the property is under contract.
An online search also confirmed the property is listed “pending” in the Triangle Multiple Listing Service, which handles real property listings in the region. Little else is known at the moment, at least publicly, about the individual or individuals who have gone under contract to purchase the nearly 200 year-old Inn.
(The News of Orange 11/6/17)