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Agenda - 10-02-1995 - IX-F
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Agenda - 10-02-1995 - IX-F
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BOCC
Date
10/2/1995
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
IX-F
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Minutes - 19951002
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\Board of County Commissioners\Minutes - Approved\1990's\1995
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National Register Fact Sheet 1, Page 2 <br /> 2. Incentives for the Preservation of National Register Properties: 32 <br /> Tax Benefits. Under the Tax Reform Act of 1986, a privately owned building that is listed in the <br /> National Register or is a contributing building in a National Register historic district may be eligible <br /> for a 20% federal income investment tax credit claimed against the costs of a qualified rehabilitation <br /> of the building. These credits apply only to income-producing, depreciable properties, including <br /> residential rental properties. The credits do not apply to owner-occupied residential properties. The <br /> cost of the rehabilitation must equal or exceed the adjusted basis of the building (original cost minus <br /> land value, minus previous depreciation, plus previous capital improvements). Plans for the rehabili- <br /> tation are reviewed by the North Carolina Historic Preservation Office and the National Park Ser- <br /> vice, and work on the building must meet federal rehabilitation standards. For more information and <br /> applications, contact the Tax Act Coordinator at the address given below, or telephone 919/733- <br /> 6547. <br /> The Tax Treatment Extension Act of 1980 provides federal tax deductions for charitable contribu- <br /> tions of partial interests (easements) in historically significant properties for conservation purposes. <br /> Interested individuals should consult legal counsel or the local Internal Revenue Service office for <br /> assistance in determining the tax consequences of the provisions of this act. <br /> Grants and Loans. A limited program of matching grants for the rehabilitation of National Register <br /> properties, including those that are privately owned, was authorized by the National Historic Preser- <br /> vation Act of 1966, but has not been funded to a significant degree since the early 1980s. A loan <br /> program authorized by the Act has never been funded. Similarly, there are no state grant or loan <br /> programs specifically tailored for the preservation of National Register properties. <br /> NOTE: A privately owned property may not be listed in the National Register over the objection of its owner or, in the <br /> case of a property with multiple owners, over the objection of a majority of owners. A district may not be listed in the <br /> National Register over the objection of a majority of owners of private property within the proposed district. For a com- <br /> plete description of procedures for objecting to a National Register nomination,se&..Xational Register Fact Sheet 5: "Pro- <br /> cedure for Supporting or Objecting to National Register Listing." <br /> See also the following numbered National Register Fact Sheets: <br /> 2: "National Register Criteria for Evaluation" <br /> 3: "How Historic Properties Are Listed in the National Register of Historic Places" <br /> 4: "The National Register of Historic Places in North Carolina: Facts and Figures" <br /> See the handout entitled "A Comparison of the National Register of Historic Places With Local Historic Landmark and <br /> District Designations" for a review of the differences between these two programs. <br /> FOR MORE INFORMATION: <br /> Historic structures and the National Register: Survey and Planning Branch, 919/733-6545. <br /> Archaeological sites and the National Register. Office of State Archaeology, 919/733-7342. <br /> Preservation tax credits and technical restoration assistance:Restoration Branch, 9191733-6547. <br /> Environmental protection and planning: Environmental Review Coordinator, Administration Branch, 919/733-4763 <br /> Written inquiries to-each of these branches may be sent to: - --- <br /> State Historic Preservation Office <br /> N.C. Division of Archives and History <br /> 109 E.Jones Street <br /> Raleigh,North Carolina 27601-2807 <br /> The National Register program is governed by the following federal and state rules and regulations: 36CFR Part 60 <br /> (interim rule), 36CFR Part 61 (final rule), and North Carolina Administrative Code T07: 04R.0300. <br /> 03/24/95 <br />
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