Historic Preservation Commission Agenda and Packet 2020 12 21

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Alternative to Purchase of Easement Staff is also presenting an amendment to the current Historic Preservation Funding Resolution 17, Series 2019 as an alternative to a simple purchase of the easement so that the $30,000 could be tied directly to preservation, restoration and rehabilitation work through a more typical grant. Currently, Resolution 17, Series 2019 provides for grants on commercial properties with a conservation easement, but not residential properties. The grant amount available for commercial properties with a conservation easement is $50,000, which is significantly less than the $275,000 available for a commercial landmark. In addition, only property with a landmark designation may apply for an "extraordinary circumstances" grant. The proposed amendment would create a new category for residential grants for properties with a conservation easement. The proposed language is provided as a redline under Section 13 of the funding resolution attached as Exhibit 5. The new section would provide the following: - Allow a matching grant for up to $30,000 for preservation, rehabilitation, and restoration work on a residential property that holds a front facade conservation easement. - The conservation easement will need to meet the front facade preservation standards under the Old Town Overlay zoning code in Section 17.12.055.C., including preservation of the full width of the front street -facing facade of a home and the sidewalls up to 25% of the depth of the house or ten feet, whichever is less. This also requires saving and preserving the architectural features in this area. - The grant must be obtained within 18 months of establishment of the easement. During the review the funding resolution, staff has included other proposed changes to the funding program that can be considered. These are also provided as a redline in Exhibit 5 and include: - Section 13 — requiring that grants for conservation easements ($50,000 for commercial and as proposed at $30,000 for residential) be matching grants. This will help ensure the cost of preservation work is shared with the property owners. - Section 12 — Increase the maximum residential matching grant from $40,000 to $55,000. Several recent residential landmark projects have needed additional funds through the "extraordinary circumstances" clause of the resolution, and the HPC can consider whether making additional funds available will help promote landmark designation and provide funds more in line with current construction costs. Total grant funds for a residential landmark would increase from $45,000 to $60,000 when including the incentive grant of $5,000. This will also help further distinguish the benefits of a full landmark status of a property compared to a property with only a conservation easement. - Section 12 — Allow the City to request two or more competing bids from qualified contactors for any work covered under a request for an "extraordinary circumstances" grant that exceeds the maximum amounts for landmarked properties. This will help ensure that the monies used for these extraordinary costs are reasonable. Other Conservation Easements: The City holds one other conservation easement for historic preservation. That easement is for the Rex Theater facade, which is now home to Waterloo at 817 Main Street. The conservation easement was provided in exchange for a grant of $62,573 to conduct the facade restoration to a historic period of significance. 10