Benefits of Historic Districts and Landmarks

Historic districts and Landmarks:

• Offer official recognition that a property is of significance to the nation, the state, or the local community
  
  
• Raise the community's awareness and pride in its past. It is this "sense of place" that encourages people to put down roots in a community.
  
  
• Enhance the visual and aesthetic character, diversity and distinctiveness of the city.
  
  
• Help safeguard the city's history and heritage
  
  
• Stabilize and increase property values.
  
  
• Enhance the city's attraction for residents, visitors, tourists and prospective residents. Historical and cultural travelers spend much more than other travelers do.
  
  
• Encourage investment for economic development.
  
  
• Encourage the rehabilitation of historic structures which is an extraordinarily effective job creator because of the labor intensity of the work. This is particularly true when compared with new construction.
  
  
• Owners of historic commercial and rental properties listed on the State and National Registers may qualify for a federal 20 percent tax credit for the substantial rehabilitation of income-producing historic properties
  
  
• Owners of historic commercial and rental properties listed on the State and National Registers may qualify for a federal 39% New Markets Tax Credits Program for investing in properties for low-income commmunities or persons.

• Municipal and not-for-profit owners of State and National Registers listed historic properties may apply for matching state historic preservation grants. Additional grants are available through other public and private sources.
  
  
• Municipal and not-for-profit owners of State and National Registers listed historic properties may apply for matching state historic preservation grants. Additional grants are available through other public and private sources.
  
  
• Help avoid demolition of historically or architecturally important properties.
  
  
• Unfortunately, listing on the State and National Registers does very little in the way of preventing demolition and insensitive change in a landmark or historic district using private funds. Only when there is state or federal involvement in the project will SHPO step in to review the proposed changes.
  
  
• Neighborhoods have sought Local historic district designation because it protects their beloved buildings from demolition and insensitive change. Indeed, a property owner cannot alter the exterior of designated buildings without first getting approval from the City of Buffalo Preservation Board.