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Section 4. Incentive grants to encourage conservation easements on properties <br /> which contribute to the character, historical or architectural merit in Downtown <br /> Louisville and which are not eligible to be landmarked: <br /> a. For a period of 18 months from when a property is designated by the <br /> City Council as a structure of merit, the owner of the property shall be <br /> eligible for a grant from the Historic Preservation Fund in the amount of <br /> up to $50,000. These grants are available for: <br /> i. Preserving, rehabilitating, restoring or protecting the property. <br /> ii. Offsetting costs of preserving the structural merit of a building <br /> that is being expanded pursuant to Section 17.16.280 and <br /> 17.28.050 of the Louisville Municipal Code. <br /> b. Grant funding may only be expended for the activities listed in this <br /> section for those portions of a property designated to be a structure of <br /> merit. <br /> Section 5. Focused preservation and/or restoration grants with matching <br /> funding requirements: <br /> a. In addition to being eligible for the grants listed elsewhere in this <br /> Resolution, a property declared a landmark pursuant to Chapter 15.36 <br /> of the Louisville Municipal Code is eligible for a grant from the Historic <br /> Preservation Fund in the amount of up to $100,000 for commercial <br /> structures and up to $15,000 for residential structures activities <br /> described in this Section, or a series of grants totaling $100,000 for <br /> commercial structures and up to $15,000 for residential structures. <br /> b. In addition to being eligible for the grants listed elsewhere in this <br /> Resolution, a property designated by the City Council as a structure of <br /> merit is eligible for a grant from the Historic Preservation Fund in the <br /> amount of up to $75,000 for commercial structures activities described <br /> in this Section. <br /> c. Grants specified in this section may only be used for preservation <br /> and/or restoration projects: These projects include measures directed <br /> towards sustaining the existing form, integrity, and materials of a <br /> historic property. None of the funding awarded pursuant to this section <br /> may be used for any actions considered routine maintenance. Routine <br /> maintenance includes painting, refinishing and exterior cleaning. <br /> d. All grants authorized under this Section shall be conditioned on the <br /> applicant matching at least one hundred percent (100 %) of the <br /> Resolution No.2, Series 2012 <br /> Page 4 of 6 <br />