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amount of the grant with expenditures or an equivalent value of <br /> approved in-kind services that are integral to the project that is deemed <br /> eligible for a grant from the Historic Preservation Fund. <br /> Section 6. New construction grants: <br /> Owners of property on which new commercial structures or additions to <br /> existing commercial structures are proposed are eligible for grants of <br /> up to $75,000 total from the Historic Preservation Fund in order to limit <br /> mass, scale, and number of stories; to preserve setbacks, to preserve <br /> pedestrian walkways between buildings; and to utilize materials typical <br /> of historic buildings, above mandatory requirements. <br /> Section 7. Maximum grant amounts and procedures: <br /> a. The maximum combined amount of incentive and grant funding from <br /> the Historic Preservation Fund that any property may receive is limited <br /> to the following: <br /> i. $21,900 per property for a landmark residential structure <br /> ii. $181,000 per property for a landmark commercial structure <br /> iii. $141,000 per property for a designated commercial structure of <br /> merit <br /> iv. $75,000 for any new commercial construction project that limits <br /> the mass, scale, and number of stories; preserves setbacks, <br /> preserves pedestrian walkways between buildings; and utilizes <br /> materials typical of historic buildings, above mandatory <br /> requirements. <br /> b. These limitations may be exceeded upon recommendation of the <br /> Historic Preservation Commission and approval by City Council upon a <br /> showing of extraordinary circumstances. Any grant exceeding the above <br /> limitations shall be conditioned on the applicant matching at least one <br /> hundred percent (100%) of the amount of the grant with expenditures or <br /> an equivalent value of approved in-kind services that are integral to the <br /> project that is deemed eligible for a grant from the Historic Preservation <br /> Fund. <br /> c. The Historic Preservation Commission will review all grant applications <br /> and make recommendations to the City Council for approval or <br /> disapproval. The City Council may approve, deny or return a proposal to <br /> the HPC for further information. <br /> Resolution No.2, Series 2012 <br /> Page 5 of 6 <br />