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Historic Preservation Tax Exemption Program

"Reviewing and amending the Historic Preservation Tax Exemption Program to boost property revitalization and enhance community heritage. This program supports private sector investment, housing, and commercial spaces while encouraging revitalization of historic districts."

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Historic Preservation Tax Exemption Program

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  1. Historic Preservation Tax Exemption Program Public Meeting of the proposed changes to the Historic Tax Exemption Program

  2. Purpose • Review the proposed amendments to the current Historic Preservation Tax Exemption Program • Division 51A-11 of the Dallas Development Code • Program sunsets December 31, 2015 • Minor amendments clarify, improve and extend the program in order to more effectively accomplish the goals of the program

  3. History • The Historic Preservation Incentive Program (ordinance #21874) was passed by the city council in October of 1993 • Amended in April of 1998 • Amended in April 2001 • Amended in April 2004 • Amended in November 2007 • Sunsets in December of 2015

  4. Existing Historic Preservation Tax Exemption Program • Historic buildings are Dallas’ link with the past. They connect us to our heritage and enrich the quality of life. • They help give a community a sense of identity, stability and orientation. • These exemptions reward private investment in rehabilitating historic properties.

  5. Existing Historic Preservation Tax Exemption Program • The rehabilitated buildings provide needed housing (in many cases, low- and moderate-income housing), and office, retail, and other commercial space. • The communities benefit from property improvement, blight removal, and increased occupancy of buildings in historic core neighborhoods.

  6. Existing Historic Preservation Tax Exemption Program • Goals of the Historic Preservation Tax Exemption Program are to: • Revitalize older neighborhoods to build and capture a stable tax base. • Support the private sector investment in historic properties. • Encourage home ownership. • Promote pedestrian oriented, ground floor retail in the Urban Historic Districts. • Support new uses for vacant and deteriorated historic buildings. • Encourage low and moderate income families to invest in Revitalizing Historic Districts.

  7. Eligibility • To be eligible for the program, a building must be a contributing or a potentially contributing historic structure in a City of Dallas district or individually listed.

  8. Begin the project and save the receipts! Schedule Landmark Commission public hearing If greater than $50,000 schedule a City Council hearing Applicant files Commitment to Repay on the property deed Applicant provides proof of expenditures, and additional required information to staff Staff and legal review of the documentation City receives a copy Of the filed documentation Letter of Verification Sent to DCAD City annually verifies the property meets the requirements of the ordinance Historic Preservation Tax Exemption Process Step 1 Application Applicant completes The project Step 2 Verification Step 3 Exemption Applicant must annually submit their renewal application to DCAD

  9. Historic Preservation Tax Exemption Program • The location of the structure and the amount of expenditures being spent determine how much will be exempt. • Types of Exemptions • Exemption on the added value of the city portion of the property taxes • Exemption of 100% of the city portion of the property taxes

  10. Historic Preservation Tax Exemption Program • In total there are about 96 historic properties receiving exemptions in the program. • The total value of the exemptions for 2014 was $205,932,688

  11. Types of Exemptions OfferedExisting and Proposed Programs

  12. Existing Historic Preservation Tax Exemption Program • Currently there are three categories of exemptions available • Urban Neighborhoods • Map to follow this slide • Revitalizing Neighborhoods • Junius Heights, Lakecliff, Peak’s Suburban, South Blvd/ Park Row, 10th St, Wheatley Place, and Winnetka Heights • Citywide • All properties not in the Urban or Revitalizing Neighborhoods • Munger Place, State Thomas, and Swiss Avenue historic districts

  13. Urban Historic Districts

  14. Existing Historic PreservationTax Exemption Program Exemptions may be renewed if additional expenditures meet the threshold for rehabilitation. This is to encourage the continued rehabilitation and use of our historic properties.

  15. Proposed Changes to the Existing Program • Only change will increase the length of the exemption from 10 to 15 years (Based on Rehab) and from 5 to 10 years for the Residential/Ground floor conversion.

  16. Urban Neighborhood Properties Titche Building SoCo Urban Lofts (Santa Fe Building) Republic Tower

  17. Urban Neighborhood Properties Awalt Building Southside on Lamar Davis Building

  18. Revitalizing Historic Districts

  19. Revitalizing Historic Districts • The Revitalizing Neighborhoods include: Junius Heights, Lake Cliff, Peak’s Suburban, South Blvd/ Park Row, and Winnetka Heights.

  20. Existing Historic Preservation Tax Exemption Program Exemptions may be renewed if additional expenditures meet the threshold for rehabilitation. This is to encourage the continued rehabilitation and use of our historic properties.

  21. Proposed Changes to the Existing Program • Only change will increase the length of the exemption from 10 to 15 years (Based on Rehab) and from 3 to 8 years for the Maintenance.

  22. Citywide Historic Districts

  23. Citywide Historic Districts • The Citywide Neighborhoods include: Munger Place, State Thomas, and Swiss Avenue. Typically these are considered districts that are stable or near stabilization. • The Citywide category covers all properties outside the Urban and Revitalizing Historic Districts.

  24. Existing Historic Preservation Tax Exemption Program Exemptions may be renewed if additional expenditures meet the threshold for rehabilitation. This is to encourage the continued rehabilitation and use of our historic properties.

  25. Proposed Changes to the Existing Program • Created a new category of exemption: Endangered Districts. • This provision is intended for structures deteriorating within our least stable historic districts. • Would allow a 100% exemption for 25% expenditures on the property • Increase the length of the exemption from 10 to 15 years for every type of exemption in this category.

  26. Endangered Districts • The Endangered Districts would include: 10th St and Wheatley Place. • The exemption would remain the same as the ‘Revitalizing Neighborhoods’, with the ‘Endangered’ listed meant to provide emphasis that these neighborhoods need more focus to reach stability and redevelopment.

  27. Other Exemptions Offered

  28. Existing Historic Preservation Tax Exemption Program

  29. Proposed Changes to the Existing Program • Other incentives • No changes to the not-for-profit, conservation easement or transfer of development rights programs

  30. Overview of Proposed Incentives Program

  31. Proposed Timeline • August/September - Landmark Commission Public Hearing • September/October (tentative) – Any applicable Council Committees • November (tentative) – City Council Hearing

  32. Questions?

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