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OVERVIEW OF THE 2005 UPDATE <br />In 2001, the Colorado Historical Foundation <br />undertook a project to document the economic <br />benefits of historic preservation in Colorado. <br />The resulting report, released in 2002, exam- <br />ined statewide economic impacts associated <br />with the rehabilitation of historic buildings <br />and heritage tourism. The report also focused <br />on economic issues especially important to <br />the owners and users of historic properties, <br />such as the availability of affordable housing <br />in older neighborhoods, and property value <br />trends in locally designated residential historic <br />districts. <br />Over 12,000 copies of the 2002 report <br />were printed and distributed free -of- charge <br />to citizens and organizations throughout the <br />state. Copies were distributed to all attendees <br />at each of the last several statewide preservation <br />conferences hosted by Colorado Preservation, <br />Inc. The project received the 2003 Stephen <br />H. Hart Award from the Colorado Historical <br />Society for "outstanding achievement in <br />preserving Colorado's cultural heritage." <br />In 2004 -05, the Foundation undertook a <br />limited update of the earlier project. This <br />report summarizes the findings of the new <br />research. Key new features include: <br />A report on the economic achievements of <br />the Colorado Main Street program; <br />An examination of property values in a <br />Colorado commercial historic district, to <br />complement the earlier property values <br />work done in residential areas; <br />Updates of data regarding three economic <br />incentives for preservation: the federal reha- <br />bilitation tax credit, the state rehabilitation tax <br />credit, and State Historical Fund acquisition <br />and development grants; and <br />New research on heritage tourism, and <br />a complete rewriting of the section on <br />heritage tourism. <br />This document contains the results of the <br />2004 -05 research, and also carries forward <br />much of the key material from the 2001 project. <br />In addition, a separate new technical report <br />is available from the Colorado Historical <br />Foundation at www.cohf.org. Organized as an <br />appendix to the earlier technical report, it <br />describes the 2004 -05 project's findings in <br />detail and discusses the analytical techniques <br />used in this new analysis, where they are <br />different from techniques used in the <br />earlier project. <br />PRESERVATION IN COLORADO 2005 UPDATE <br />Nisloric fin nr building <br />Snotnnuiss. Colorado <br />ll) ,'blinds relurbililallon <br />Maim; Colorzulo <br />1 <br />