33 Historic Preservation Plan Explore Financial Incentive Programs Today historic districts and sites throughout the country are experiencing unprecedented revitalization as communities use their cultural monuments as catalysts for neighborhood and commercial revitalization. Frequently, efforts to preserve and revitalize historic buildings run up against financial obstacles that create challenges in preserving and reusing historic buildings. Fortunately there are a variety of financial incentives offering tangible advantages to historic property owners. Incentives help offset additional costs sometimes incurred by property owners to comply with the preservation ordinance and its design guidelines. In addition, there are instances where denial of a Certificate of Appropriateness could be considered an unconstitutional undertaking, and incentives may help mitigate economic hardships that could constitute a taking. Incentive programs are also a useful mechanism to enable older or less affluent residents to remain in neighborhoods that might otherwise not be affordable. The City should appoint an advisory committee to identify and evaluate potential financial incentive programs to encourage the rehabilitation of historic buildings. Initially, incentives should be targeted to the neighborhood conservation program and to encourage ground floor retail on Main Street. Preservation incentive programs are widely used throughout the country to offset the cost of preserving historic sites and buildings by providing income and property tax reductions. Local incentive programs may include tax abatement, tax freezes, tax credits, grants, and low-interest loans. Enhance Historic Cemeteries Franklin has a number of historic cemeteries scattered throughout the City that constitute an important feature of Franklin’s heritage. Most prominent are Toussaint L’Overture, McGavock Confederate, Rest Haven, Mt. Hope, and Old Franklin cemeteries; two of these, Toussaint and McGavock are listed on the National Register of Historic Places. There are many more small family cemeteries scattered throughout the City and urban growth boundary. These historic settings yield valuable information about social, religious, artistic and cultural heritage while simultaneously providing a wealth of genealogical information. Unfortunately, many threats (weathering, commercial development, neglect, vandalism, and theft) face historic cemeteries.
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