How Do I Get Renovate & Restoration Grants For 100 Year Old Homes
How Do I Get Renovate & Restoration Grants For 100 Year Old Homes: Restoring a century-old house is a noble endeavor that can breathe new life into architectural gems of the past. To alleviate the financial burden of such projects, various grants and funding opportunities are available. This article delves into the details of obtaining these grants and offers detailed guidance for homeowners.
Find Available Grants for 100 Year Old Homes
Understanding the Importance of Restoring Historic Homes
Restoring historic homes preserves cultural heritage and offers a unique charm and character that modern buildings often lack. These homes tell stories of bygone eras and showcase architectural styles and craftsmanship that have stood the test of time. However, restoration requires significant investment, so financial assistance is crucial.
Types of Grants Available for Historic Home Renovations
Federal Grants
1. Save America’s Treasures (SAT) Grant:
This grant is aimed at preserving significant historic properties and collections. Administered by the National Park Service (NPS) in partnership with the Institute of Museum and Library Services, the National Endowment for the Arts, and the National Endowment for the Humanities, the SAT grant supports preservation and conservation projects.
2. Historic Preservation Fund (HPF):
The HPF provides funding to state and local governments to support historic preservation projects. These grants can be used for various activities, including the restoration of historic properties.
State Grants
State historic preservation offices (SHPOs) often have grant programs to support the restoration of historic properties. These programs vary by state, but are generally intended to assist in the preservation of local heritage.
Example: New York State Historic Homeownership Rehabilitation Tax Credit
This program offers a state income tax credit for homeowners who rehabilitate historic properties in designated areas. The credit covers up to 20% of qualified rehabilitation expenses.
Local Grants
Local governments and preservation societies frequently offer grants and financial incentives to support the restoration of historic homes. These may include property tax reductions, low-interest loans, and matching grants.
Example: Los Angeles Mills Law Program
This program offers a property tax reduction for owners of historic properties who agree to restore and maintain their properties to specific standards.
Eligibility Criteria for Historic Home Grants
To qualify for most historic home renovation grants, properties generally must meet certain criteria:
Historic Designation: The home must be listed or eligible for listing on the National Register of Historic Places or a similar state or local historic registry.
Scope of the project: The project must align with the Standards for the Treatment of Historic Properties of the Secretary of the Interior.
Documentation: Detailed documentation of the property’s history, its current condition, and proposed restoration plans is typically required.
Matching Funds: Some grants require recipients to match a portion of the grant amount with their own funds.
Applying for Renovation and Restoration Grants
Research and Identify Suitable Grants
Start by researching grants available at the federal, state, and local levels. Use resources such as the National Trust for Historic Preservation and SHPOs for complete information.
Prepare Comprehensive Documentation
Compile a detailed history of the property, including original architectural drawings, historic photographs, and past renovations. Make sure the restoration plan aligns with preservation standards.
Submit a strong application
Craft a compelling narrative that highlights the historical significance of the property and the impact of the restoration project. Include a detailed budget and schedule, demonstrating the financial need and feasibility of the project.
Monitoring and compliance with grant requirements
After submission, maintain communication with the granting agency and promptly provide any additional information requested. Upon receiving the grant, comply with all stipulated requirements and deadlines.
Additional Financial Resources for Historic Homeowners
Tax Incentives
Federal Historic Preservation Tax Incentive Program: This program offers a 20% tax credit for the rehabilitation of historic, income-producing buildings. While it does not apply directly to owner-occupied homes, it may benefit homeowners who rent out part of their property.
Low interest loans
Several financial institutions offer low-interest loans specifically for restorations of historic properties. These loans can supplement grant funding and provide additional financial flexibility.
Private foundations and nonprofit organizations
Numerous private foundations and nonprofit organizations provide grants and funds for historic preservation. Examples include the Getty Foundation and the National Endowment for Historic Preservation.
