City Council Agenda and Packet 2011 07 12 SP

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Heritage Tourism: Heritage tourists are defined as travelers that incorporate at least one visit to a historic site or landmark, or visitors whose primary reason for traveling is to visit historic places. Those tourists made 4.6 million trips to Colorado in 1999. In that year alone, those trips generated a total of $3.1 billion for the state economy. It should be noted that heritage tourists typically spend more and stay longer than other types of tourists. Rural Preservation: By promoting reinvestment and revitalization of existing resources, historic preservation can help counter the effects of both sprawl and disinvestment. The economic benefits of rural preservation were difficult to quantify, so no dollar amounts were measured. However, it is clear that the benefits of programs like the Certified Local Governments program, the National Trust for Historic Preservation's Main Street program, and the National Trust's Barn Again! program provide valuable preservation assistance to rural communities. The study uncovered great news for individual historic property owners and communities. Finally, the myth that historic designation decreases property values and supports gentrification is put to rest! Property Values: The study found that residential property values in historically designated areas increased or stayed the same as those values in nearby, undesignated areas. None of the case study areas showed any decrease in property values after historic designation. Affordable Housing: Additionally, though some critics of historic preservation worry that preservation can lead to gentrification of an area by pricing out low- and moderate income households, the study found that the proportion of those residents remained high in historic areas. In fact, historic districts comprise some of Colorado's most economically diverse neighborhoods, making them interesting, pleasant, and valuable places to live. Financial Incentives for Preservation: Several financial incentives exist for buildings with historic designation. Depending upon the level of designation -- local, state, or national level -- a designated building may be eligible for tax credits, grants, or special loans. Call SHF Technical Advisors at 303 -866- 2825 for more information. For the full story, obtain a copy of the study by visiting www.cohf.org or calling the Office of Archaeology and Historic Preservation at 303 - 866 -3395. 4