Aston, U. Chichester, and L. Chichester Multi ... - E-Library

Tax IncentivesFederal Tax Credits – Sites on the National Register of Historic Places (or those in aNational Register Historic District) are eligible for federal tax credits for rehabilitation.This applies only to income-producing structures but can be an incentive forrevitalization of an area.Property Tax Abatement and Freeze – The municipality has the authority to develop itsown incentive for preservation. The municipal tax is lowered or frozen for a period oftime for those historic structures undergoing a rehabilitation or reuse.Community Development Block GrantsAnother source of funds for the rehabilitation of historic resources is the CommunityDevelopment Block Grants (CDBG). These federally sponsored funds are awarded eachyear by the Delaware County Planning Department to low- and moderate-income areas,and there is also a provision for funding historic rehabilitation.Public/Private CooperationNot all projects can be funded by one source, especially in revitalization areas. Manyprojects, usually the those involving more than one building or an extremely largestructure, are accomplished using funds from public sources such as state or federalpreservation grants as well as foundation and corporate grants and local financialinstitutions.Certified Local Government ProgramThe Certified Local Government (CLG) program is a cost-effective local, state andfederal partnership. The initiative provides valuable technical assistance and small grantsto local governments seeking to keep for future generations what is important andsignificant from their past. Funds are appropriated annually by the U.S. Congress anddistributed from the Historic Preservation Fund, which is administered by the NationalPark Service and State Historic Preservation Offices in each state.The more than 1,100 local governments that participate in the program are eligible toapply to their SHPO for grants representing a minimum of ten percent of the federalfunds allocated to their State. Projects eligible for funding and the criteria used to selectthem are developed annually by the SHPO. The State, not National Park Service, makesfunding decisions.A-10