OTHER FINANCIAL INCENTIVES
Federal assistance
for historic preservation projects
A comprehensive description of federal programs.
Local government assistance
Some of Minnesota’s 50
municipalities with heritage preservation commissions operate local revolving
funds or low-interest loan programs for historic preservation and provide
rehabilitation design assistance.
In addition, local governments
across the state administer financial assistance programs funded through
the Minnesota Department of Employment and Economic Development; many have
supported historic preservation projects. Contact your local government to
explore what may be available in your community.
The National Trust for Historic Preservation
This preservation advocacy organization gives incentive
grants and loans to local preservation organizations for non-construction activities.
Foundation grants for private nonprofit and public owners of historic
properties
Some private foundations include historic preservation
among activities eligible for funding. You may need to be creative in finding
a fit for your project; the term historic preservation is often not used
by funders. See the Minnesota
Council on Foundations’ Guide to Minnesota Grantmakers or look for the
guide at your local library.
Façade easements
The Preservation
Alliance of Minnesota accepts easement donations from property owners who wish to preserve in perpetuity the façades of qualifying historic buildings. Such donations are eligible for federal and state income tax deductions and may qualify for ongoing tax advantages.
State tax incentives
Efforts are underway in the Minnesota
Legislature to pass a state historic preservation tax credit for commercial
and residential property. See Legislative
Update or contact the Preservation
Alliance of Minnesota for more information.
