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SENT BY:WASHINGTON COUNTY ; 1-23-95 ; 14:16 PUBLIC WORKS- ;# 3 Sue Johnson Page Two mU not be used for "bricks and mortar" work such as a new storefront or restoring a public building. Other benefits: technical assistance and training from the SHPO; participation in nominations to the National Register of Historic Places; national historic preservation assistance network such as publications and professional assistance; and participation in statewide preservation programs and planning. Designating Properties Properties can be designated individually, or as part of a larger historic district, at the national or local level. Properties designated under the local ordinance are subject to a local review process (the HPC reviews proposed exterio changes), and are therefore afforded the greatest degree of protection. Properties designated under the National Register of Historic Places in no way limits the owner's use of the property unless public funding is used. If your property is listed in the National Register you may do anything with it you wish. Preservation Tax inenjives •The Tax Reform Act of 1986 establishes a 20% income tax credit for the substantial rehabilitation of historic buildings for commercial, industrial, and rental residential purposes. *The same law establishes a la tax credit for the substantial rehabilitation for WjL- residoU purposes of buildings built before 1 3 . •The building must be a certified historic structure that is subject to depreciation, and the rehabilitation must meet the Secretary of the Interior's Standards. +The 10% tax credit is pot available for rehabilitations of certified historic structures, and owners who have properties within registered historic districts and who wish to elect this credit must obtain certification that their buildings are not historic. A building located in a local historic district can also qualify for preservation tax incentives if 1) the ordinance creating the district has been certified; 2) the district has been certified as substantially meeting National Register criteria; and 3) the property is certified as being of historic significance to the district. To be eligible for certification, ordinances establishing a district must contain criteria that substantially achieve the purpose of preserving and rehabilitating buildings of historic significance to the district. At a minimum, the ordinance should provide for a commission, with the power to review proposed alterations to buildings of historic significance within designated districts.