Page 111 - Corvallis, OR Historic Preservation Plan

Historic Preservation Plan

Incentives and Benefits

Component

The incentives and benefits component of the preservation program
includes the tools that assist property owners in maintaining historic
resources. Effective preservation programs offer special benefits
to stimulate investment in historic properties, encourage owners to
follow appropriate rehabilitation procedures and assist those with
limited budgets.

Goal 8: Incentives and benefits for

preserving historic properties should
attract investment in historic properties.

Incentives should support appropriate rehabilitation and continued
use of historic resources. Incentives should also assist owners who
seek local designation of eligible historic resources and conservation
areas.

Policy 1: Promote financial incentives that stimulate

investment in historic properties.

Action A: Explore the potential for offering local property
tax incentives for the rehabilitation and adaptive reuse
of historic properties.

Action B: Explore offering local incentives for seismic
retrofit of historic properties.

Action C: Extend the use of grant, loan and tax
abatement programs to promote projects that meet
preservation objectives and assist property owners in
need of financial assistance.

Action D: Provide examples of successful rehabilitation
projects in the community and the financial incentives
that were used on those projects.
x The City should develop a set of case studies
with financial pro-formas to demonstrate historic
redevelopment prototypes that would be considered
feasible in Corvallis. This analysis would consider
appropriately rehabilitated properties and incorporate
available incentives, to better understand how these
are applied.

Final: November 15, 2017 105