Sat. Sep 30th, 2023
Restoration in Riverside CA

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Income-producing historic buildings can qualify for a Mills Act tax credit, reducing property taxes. The program is administered by the City’s Planning Department.

Restoration Tax Credits

Owners of income-producing historic buildings that meet certain federal criteria may be able to receive a dollar-for-dollar tax credit equal to 20% of the cost of rehabilitation. The program also provides a waiver of City-related fees for projects involving the restoration of historic properties. The HTC can be syndicated to outside investors for upfront project equity or rolled into a property’s income tax liability over 7+ years.

Generally, historic buildings that are listed in or eligible for the National Register of Historic Places qualify for the program. A building’s eligibility is determined by a review of its “adjusted basis,” which includes its purchase price minus land costs and depreciation, as well as any prior improvements made to the property.

Kessler says the state tax credits helped make his Plant Riverside project viable. He also credits the support of state Sen. George Hooks and former Sen. Tom Hughes, both of whom lobbied for the bill. They were instrumental in convincing lawmakers to pass it.

Landmark Plaque Program

The plaque program is an important tool in educating the community about the historic and architectural significance of buildings. In addition, it also serves as an incentive for homeowners to maintain their structures. This program is based on a set of criteria that defines what structures qualify for a plaque. The plaques are installed on the exterior of the property, making them easily visible to anyone passing by. Some communities worry about theft or vandalism of the plaques, but this can be prevented by placing them in areas that are hard to access and by using commercially available epoxies, which make the plaques extremely difficult to remove.

Many historical societies conduct surveys to identify historically significant buildings and structures in their localities, neighborhoods, and project areas. Plaque programs can be an excellent way to tie these survey efforts into the overall mission of the historical society. Incorporating a plaque program into these ongoing research efforts can help the society cover research expenses, while providing building owners with a tangible product in return for their donation.

State Historical Building Code

For more than thirty years, Riverside has been recognized by the state Office of Historic Preservation as a Certified Local Government. The City’s preservation program includes a survey and inventory of historically significant resources, residential design guidelines, and an extensive range of educational programs.

The Secretary of the Interior’s standards and guidelines for the treatment of historic resources provide professionally accepted standards to guide Restoration in Riverside CA, rehabilitation, additions and reconstruction work on historically significant properties. These include the principles of integrity, setting, significance, and other criteria. (See also the City’s HPP Section 5.0, Design Guidelines – Secretary of the Interior Standards.)

The SHBC is unique among state regulations because it offers alternative construction rules for qualified historical buildings while maintaining currently acceptable life-safety standards. It is a performance code that allows for the tailoring of solutions to the specific problems encountered by historic buildings. It can help a project move forward when it might not be financially or technically feasible under standard construction codes.

California Heritage Fund

The California Heritage Fund supports projects that document, conserve, and share the state’s historic and cultural resources. It also provides a variety of services to the public, including technical assistance, education, and training.

Riverside’s rich Latino and indigenous history lives on at the Trujillo Adobe. In the latest state budget, $10.4 million is slated to help preserve and enhance this historic site in downtown Riverside. The city’s Regional Park and Open-Space District is leading the effort to create a museum for local residents and visitors to tour.

Downtown Riverside is a walking museum, with statues of great leaders throughout the Main Street pedestrian mall. It’s home to the Mission Inn Museum, the Riverside Metropolitan Museum, and the famed Riverside County Courthouse. In addition, UCR ARTS is housed in two historic department stores and draws people from across the region to see its displays.

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