Benefits: Historic Preservation

One of the first questions I am asked when discussing historic preservation is, "What are the benefits of registering a historic building?"  It is a great question, simply because the organizations like the National Trust for Historic Preservation, the National Parks Service, and our California Preservation Foundation and the California Historic Preservation Office do not make the answer obvious.  This is unfortunate, because the answer may motivate the public to actively pursue preservation projects.  So, without further delay, here are ten fundamental benefits when formally registering your project as a historic place or district:

1. Economic incentives based on your community's participation in the Mill's Act.  Contact your local planning office for your community's status.
2. Your community might also include special waivers, parking benefits, and signage for your historic site.
3. A 20% federal rehabilitation IRS tax credit by way of the National Parks Service.
4. Historic districts with historic buildings help increase property values with great value retention and faster appreciation.
5. If your community develops a Main Street Program, town's frequently benefit from increased tourism, revitalization projects, and more job opportunities.
6. Your building and district become protected, which in turn helps retain resale and market values.
7. Your preservation project contributes to the cultural and heritage fabric of your community, where others can learn from your project's past.
8. Having a home or other building formally registered is a prestigious accomplishment that benefits the entire community.
9. It is a "green" thing that can include adaptive reuse, sustainability practices, and even LEED certification.
10. Your project supports a better understanding of your community's unique sense of place.

Do you already have a registered historic property here in California?  Please feel free to comment about the benefits and possible disadvantages of registry.  Thank you.