Downtown Asheboro
PRESERVE Asheboro Grant Program
This grant program is created to spur preservation based economic development in downtown Asheboro by supporting the acquisition of historic preservation consultant services for redevelopment projects in the district. Downtown historic structures are integral to the character of the community, but navigating historic incentive programs can be complex. This grant program aims to help downtown property owners leverage development incentives confidently with the support of a specialist.
The PRESERVE Asheboro Grant Program will fund up to $5,000 per property in historic preservation consultant fees to help aid in the process of pursuing historic tax credits, pursuing a local landmark designation, or pursuing a nomination for the National Register of Historic Places (for those properties not currently listed).
No funding match is required to be eligible for this program. An applicant can pursue any combination of these eligible expenses, but funds will be capped at $5,000 per property. Funds are limited and are on a first come, first served basis.
Applicant Information
Eligibility & Criteria:
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Applicant must own a structure that is located within the Asheboro Downtown Historic District listed on the National Register of Historic Places OR must be immediately adjacent to the historic district.
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A property may only receive one grant payment from this program.
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Applicants must utilize a historic preservation consultant listed on Preservation North Carolina’s professional associates network linked here: https://www.presnc.org/consultants/.
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Applicants must include a quote for historic preservation services with their application, and the quote should be dated within the past 60 days. If the application is approved, funds will be released upon receipt of proof of an executed contract for historic preservation services.
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Funding is limited and is on a first come, first served basis. Amounts will be funded up to $5000 based on the provided contract executed between the property owner and historic preservation consultant.
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Funds must be used within 6 months of receipt.
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Applicants agree to fill out a post project completion evaluation.
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Required Documents:
1. Completed and signed PRESERVE Asheboro Grant Application
2. Quote for services dated within 60 days of application submittal.
3. Existing photos of the building, interior and exterior.
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Historic Tax Credits: Income tax incentives for the rehabilitation of historic structures are important tools for historic preservation and economic development in North Carolina. A federal income tax credit for the rehabilitation of historic structures first appeared in 1976 and today consists of a 20% credit for the qualifying rehabilitation of income-producing historic properties. In 1998, North Carolina introduced a state historic tax credit to augment the federal program, and instituted a "non-income-producing" historic tax credit program available to homeowners up to 20%.
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Learn more: https://www.hpo.nc.gov/restoration-services/rehabilitation-tax-credit-programs
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Local Landmark Designation: A Local Historic Landmark is a designation indicating that the property meets criteria established by the landmark commission ordinance, and is important to the heritage and character of the community. Local Historic Landmark designation helps give our county individual character and ourselves a sense of place, pride, and historic connection. Local Historic Landmarks provide a tangible link to the past, with people, places, and events, that have made significant contributions to Randolph County history and thus have shaped our present. Local Historic Landmark designation places some restrictions on how property owners can make changes to the designated site. The commission recommends this designation to the local governing board, which can then enact an ordinance designating the site as a Local Historic Landmark.
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Learn more: https://randolphlibrary.libguides.com/c.php?g=1049823
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Designation as a Contributing Structure to the National Register of Historic Places: The National Register of Historic Places is the nation's official list of buildings, structures, objects, sites, and districts worthy of preservation for their significance in American history, architecture, archaeology, and culture. The National Register was established by the National Historic Preservation Act of 1966. The purpose of the Act is to ensure that as a matter of public policy, properties significant in national, state, and local history are considered in the planning of federal undertakings, and to encourage historic preservation initiatives by state and local governments and the private sector.
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The listing of a property in the National Register places no obligation or restriction on a private owner using private resources to maintain or alter the property. Over the years, various federal incentives have been introduced to assist private preservation initiatives. A private owner of a National Register property becomes obligated to follow federal preservation standards only if federal funding or licensing is used in work on the property, or if the owner seeks and receives a special benefit that derives from National Register designation, such as a grant or a tax credit.
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