PRESERVATION BENEFITS
The greatest benefit of historic preservation is the protection and
interpretation of our cultural heritage. Buildings are a true record of the
period or society that created them. They are a primary source of
historical information. The historic and social value of preserving older
neighborhoods, restoring a landmark county courthouse, or adaptive use
of railroad stations or other underutilized buildings across the country far
exceeds the direct economic benefits. Preservation makes a significant
contribution to the beauty and enjoyment of our cities, towns, and rural
landscapes and to the quality of life in these special places.
At the same time, the economic benefits of preservation are not
inconsequential. Solid documentation exists regarding benefits to the tax
base of communities and stimulation of the economy.
Both public and private owners have come to realize the economic
benefits of preservation. Savings in costs, materials, and energy in the
adaptive use or preservation of existing buildings are significant. In
adaptive use projects, the cost per square foot can be substantially less
than that for new construction. In addition, both energy and natural
resources can be saved by reusing existing structures rather than
manufacturing, delivering, and constructing buildings with new materials.
Owners of buildings that are recognized historic landmarks or are located
in designated historic districts may qualify for other financial benefits.
Federal tax laws and Internal Revenue Service regulations provide tax
credits for the restoration of commercial buildings listed in the National
Register of Historic Places. State and local grants and special tax
deductions may also be available.
(Source: 2001 The American Institute of Architects Guide to Historic
Preservation)
