City Council Agenda and Packet 2011 07 12 SP

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For example, a study in Delaware showed that rehabilitation of old buildings created 14.6 jobs per $1 million output, as compared to 11.2 job created by new construction and 9.2 jobs created in manufacturing. A study in Georgia, looking at its primary industries, has similar findings. A $1 million investment created 3.5 jobs in auto manufacture, four jobs in computer manufacture, 8.7 jobs in air transportation, 10.4 jobs in poultry processing and 18.1 jobs in rehabilitating old buildings. As far as property values, creation of local historic districts not only add value to historic homes, but to other properties near those homes, said Rypkema. In Philadelphia, it represented a sales price premium of 131 percent; in nine Texas cities, increased property values ranged from 5 to 20 percent. In the past 25 years, some $45 billion has been spent in revitalizing local Main Street communities. That outlay has resulted in 83,000 net new businesses; 370,000 net new jobs; 199,000 building rehabilitation and construction projects, said Rypkema. Countless studies have also shown an impact of historic preservation on heritage tourism. In Philadelphia, for example, it accounts for 45,000 jobs and an annual revenue of $975 million. In Arkansas, 16 percent of all tourists are considered heritage tourists, but they spend 30 percent more than other tourists and stay almost twice as long. As important as the economic impact is, however, "it is only part of the picture," said Rypkema. "Historic preservation also has environmental and social aspects." In tearing down old buildings, he said, "we are throwing away thousands of dollars of embodied energy and then replacing it with materials vastly more consumptive of energy." A study of one building in Connecticut found that tearing it down instead of rehabilitating it was the equivalent of throwing away 615,777 gallons of gas; sending more debris to the landfill than would be discarded by the entire city for 21 days; would wipe out the benefit of recycling 21,211,680 aluminum City Creek Center developers will use the former Deseret /First Security Bank building, shown here in August 2008, as office space as part of the downtown project. Creation of local historic districts also leads to more diverse communities, more walkable communities and adds other social benefits, said Rypkema. "When we tear down historic buildings, we take things away from ourselves and from every future generation." As part of the Utah Preservation Conference, the Utah Heritage Foundation's Heritage Awards were given at a Friday luncheon to recognize excellence in historic preservations. "The winners reflect the variety of projects throughout Utah that are being undertaken and beautifully executed to showcase our past while being preserved for the future," says Kirk Huffaker, executive director of the Utah Heritage Foundation. "These projects highlight the importance of historic preservation and benefit our citizens and our visitors." Award winners Adaptive use: Housing Authority of Salt Lake City for the Stanley F. Taylor House. 9