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TO: Mayor Richard C. Irvin
FROM: Jill Morgan, Planner
DATE: June 20, 2019
SUBJECT:
A Resolution Approving the Use of Preservation Funds for a Historic Preservation Grant Program and Adopting New Program Guidelines (19-0520 - KDWK-18.028-PZ/HP - JM)
PURPOSE:
To approve the use of allocated funds from the 2018 Budget to be used towards a Historic Preservation Grant and to approve new Historic Preservation Grant Program Guidelines.
BACKGROUND:
In 2018, City Council allocated $100,000 for a Historic Preservation Funding program. The original program as outlined in the Decision Package was for a Revolving Loan Program. It was anticipated that it would be a no interest/low interest loan that the homeowners would pay back over five years. The loan would be paid back over the term of the loan by monthly payments. It would be disbursed over five years at lower monthly payments than traditional financing options.
After some initial feedback from homeowners and the Preservation Commission, concerns were raised that the program would not provide the assistance that the districts really needed and may not be widely used. Concerns raised included that monthly payments would be beyond what homeowners could afford and that credit checks would hinder some residents from being able to take advantage of the program.
Following these discussions, it became apparent that a grant program would be more beneficial to the residents as well as better meeting the original outcome of the program, being to assist homeowners with the home improvement costs because of the additional regulations required by the Design Guidelines while creating more historically appropriate and more aesthetically appealing communities.
The proposed grant program would be similar to previous historic preservation grant funding. The new program guidelines outline a reimbursement program. The minimum amount of each grant would be $5,000 and the maximum would be $20,000. All grants at or unde...
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