Glossary

historic designation

Act of identifying historic structures and districts subject to regulation in historic preservation ordinances or other preservation laws. (preservationnation.org)

historic district

An area within defined boundaries that generally includes a significant concentration of properties contributing to the overall historic character (architectural style, historical development, etc.) of the area. Historic districts, designated at the local, state, or national level, are often subject to specific laws governing property development. See: Veltex Building, Edenton Cotton Mill

historic preservation/rehabilitation tax credits

Currently, the IRS offers a 20 percent tax credit for the preservation and adaptive reuse of commercial and income-producing buildings and a 10 percent tax credit for non-historic buildings built before 1936. The credits help make redevelopment of these properties financially feasible. (adapted from preservationnation.org)

home funds

This federal program is designed to expand the supply of decent affordable housing for low- and very low-income families and individuals. HOME funds are provided each year by HUD to states and localities, which determine how the funds are spent (e.g. tenant-based rental assistance, assistance to homebuyers, property acquisition, new construction, rehabilitation, site improvements, demolition, relocation, and administrative costs.) (adapted from housingpolicy.org) See: Operation: Neighborhood, Harold Washington Unity Corp

glossary

Reclaiming Communities through Vacant Property Revitalization