Page 66 - Brookings, SD Historic Preservation Plan

Incentives and Benefits Component

Goal: Incentives and benefits for preserving historic proper-
ties should attract investment in historic properties.
Policy 1: Promote the expanded use of existing incentive
programs.
• Action A: Link interested property owners to training and
technical assistance programs for the use of federal, state
and local programs and funds.
• Action B: Maintain and promote the Downtown Economic
Development Incentive Fund (DEDIF).
• Action C: Create informational materials (web-based and/or
printed) for downtown property owners to learn more about
the DEDIF revolving low-interest loan program.

• Action D: Consider expanding the existing revolving loan
fund or creating a new revolving fund to assist residential
property owners with work on their historic structure.

• Action E: Maintain the Mayor’s Awards program to raise
awareness of preservation successes throughout Brookings.

Policy 2: Promote existing, and explore new, financial incen-
tives that stimulate investment in historic properties.
• Action A: Explore offering incentives for preservation at the
local level. The following list includes a variety of incentives
that communities provide at the local level: property tax
incentives; low interest loans for rehabilitation work; in-
centives that encourage rehabilitation and adaptive reuse
projects rather than scraping and rebuilding; reducing or
removing tax on building materials for historic properties.

62 Brookings Historic Preservation Plan