City Council Minutes 2011 07 12 SP

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City Council Meeting Minutes July 12, 2011 Page 4 of 10 The Historic Preservation Commission presentation was made by Michael Koertje. Current Commercial Incentives Proposal April 2010 Council approved incentive program for properties newly landmarked in Historic Old Town Louisville. Owners of these properties receive a $1,000 "signing bonus Additionally owners are eligible to apply for an up to $5000 grant within the first year for preservation, restoration and rehabilitation, including routine 'maintenance. Potential New Incentives for Commercial Properties Property owners would be eligible for a $25,000 award of obtaining a landmark designation from the City Council with no conditions. Property owners who successfully obtained a landmark designation would also be eligible for a $50„000 grant for preserving, rehabilitating or restoring the landmarked property. Grants could also be used to offset any costs of preserving the historical integrity of a landmarked building. PUBLIC COMMENTS Emily Jasiak, LRC Member, agreed there are economic benefits of historic preservation. She supported incentives and felt they are key to voluntarily landmarking. Peter Stewart, HPC Member, noted nationally registered properties are eligible for a 20% state and federal tax credit in addition to the City's incentives. COUNCIL COMMENTS Councilor Dalton supported the HPC's recommendation of incentives for commercial properties. He felt positive incentives are deserving of property owners and developers. Councilor Muckle noted the City of Louisville has a strictly voluntary landmarking program. Mayor Sisk added the City's landmarking process provides incentives. Emily Jasiak, HPC member, asked if a resident voluntarily landmarks their historic property, are their property rights infringed upon. Principal Planner McCartney explained after a property has been landmarked there is a requirement that any improvements to the property must go through an alteration certificate review. Exterior improvements require an alteration certificate review but interior improvements do not. City Attorney Light clarified the stipulations of the ballot question approved by the voters relative to the historic preservation tax. The request and receipt for incentives is voluntary but if incentives are accepted it is conditioned by either a conservation easement or landmarking of the property. Michael Menaker, LRC member, stated the historic preservation tax ballot language allows the Historic Preservation Tax Fund to be used influence to design, mask, scale and material of new construction. He noted the Louisville Rex Theatre received