[MassHistPres] Preservation Trusts

[james hadley]

The concept of revolving fund is a fairly common one. A pot of money from whatever source is available (CPC is the obvious first source to look at) is set aside and is then used to lend as you describe, or sometimes used to purchase and resell properties that are threatened. After purchase and after loans are made a preservation easement is placed on the property.
James Hadley
Orleans Historical Commission 



From: djd184 at verizon.net
Date: Fri, 5 Aug 2011 08:38:11 -0400
To: masshistpres at cs.umb.edu
Subject: Re: [MassHistPres] Preservation Trusts


Brian


This is not quite what you have in mind but might be of some use in terms of administrative mechanics.  Brookline has a housing rehab fund for means tested situations that was originally funded (I think) through CDBG.  I believe the investment may become a 2nd mortgage that then is repaid into the fund for reuse.  When used on NR properties there has been Preservation Commission review -- altho not any NR cases in some time that I'm aware of.


Dennis De Witt


  


On Aug 4, 2011, at 4:36 PM, Blever3043 wrote:
In Newton some of the members of the Historical Commission have become interested in the possibility of creating a preservation trust fund.  This fund could be used to lend funds to property owners to complete restoration work, fund City preservation projects ect.  I am looking for examples from other communities who have such programs and have some questions:

Does the municipal Historical Commission operate the fund or is it through a non-profit?

How was it created?

And how was it funded, grants, donations, ect.?

I know these exist in a few communities and am hoping to obtain some basic information about them.

Thanks,

Brian Lever
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