Page 45 - Brookings, SD Historic Preservation Plan

Incentives and Benefits Component Analysis
Issues
• While a variety of incentives are available for historic preserva-
tion projects, there is a lack of incentives (financial and regulato-
ry) from the local level.
• The City’s funding capability is limited.
• Existing incentives are insufficient to promote historic designa-
tion of properties to the Local Register
Opportunities

• Explore offering incentives for preservation at the local level. 211 Main Avenue, a contributing
structure to the Commercial Historic
The following list includes a variety of incentives that some District (W&Co, 2020)
communities provide at the local level:
» Property tax incentives
» Incentives that put rehabilitation and adaptive reuse
projects above scraping and rebuilding
» Incentives for secondary dwelling units
» Reducing or removing tax on building materials for historic
properties
• Explore offering an incentive that eases some regulations when
a property (rental or owner-occupied) is properly maintained.
• Consider creating a revolving fund to assist property owners
with work on their historic structure.

Looking at western side of the Commercial Historic District between 3rd Street
and 4th Street. Approximately half of the buildings in this image are listed as
contributing to the historic district. (W&Co, 2020)

Final Draft: February 2021 41