If a property is individually eligible for Landmark designation, the owner may decide to have the resource officially recognized as a Fort Collins Landmark, and take advantage of substantial financial benefits. Designation of a property does not mean that it cannot be renovated or added onto, as long as the work is compatible - generally, sympathetic and subordinate to the historic. To ensure that a designated property's historic character is retained, plans are reviewed using the Secretary of the Interior's Standards and Guidelines, cr.nps.gov/hps/tps/standguide/index.htm.
Colorado State Tax Credits
Receive back 20% of all approved costs, in the form of a dollar-for-dollar state income tax credit, for work on both the interior and exterior of designated resources. Any unused credit may be carried forward for ten years, coloradohistory-oahp.org/programareas/itc/taxcredits.htm.
Landmark Rehabilitation 0% Interest Loans
The City provides matching funds of up to $5,000 each year, for approved exterior work. The no-interest loan amounts are paid back only when the property is sold. The loan program is competitive, so actual funding will depend upon the quantity and quality of applications received that round, fcgov.com/historicpreservation/applications.php.
State Historic Fund Grants
Receive grants of 25% or more of costs, for projects involving the stabilization, restoration, rehabilitation, reconstruction, or acquisition of a designated property or site. The project needs to show a public benefit, coloradohistory-oahp.org/programareas/shf/shfindex.htm.
Historic Structure Assessment Grants
Grants of up to $10,000, to thoroughly document the structural condition of a building or structure and evaluate requirements for an intended use. No matching funds are required; however grants to private individuals or for-profit entities are encouraged to include a cash or in-kind match, coloradohistory-oahp.org/programareas/shf/shfindex.htm.
Colorado Historical Foundation Loans
Below market, fixed-rate loans to recipients of State Historic Fund grants, to supplement the grants. Loans typically require minimal down payments and have flexible repayment terms. Loans of less than $100,000 or over $750,000 are considered only under unusual circumstances.
Federal Tax Credits
Additional 20% federal tax credit, for the substantial rehabilitation of historic buildings utilized for income-producing purposes (including rental properties). 10% federal tax credit for the substantial rehabilitation of non-residential buildings, not eligible for designation but located within a designated historic district. These are in addition to the 20% State Tax Credit, coloradohistory-oahp.org/programareas/itc/taxcredits.htm.
Free Professional Advice
Complimentary, no-obligation consultations may be arranged with architects, preservation contractors or structural engineers, to provide expert advice on design and construction issues affecting historic buildings.
Free Assistance Preparing Applications
Preservation staff is available to assist in preparing applications for the various financial programs, and in limited instances, may also assistance with grant management.
Other financial programs which may also be used for historic preservation projects include:
Downtown Development Authority Facade Funds - downtownfortcollins.org.
Community Development Block Grants (CDBG) - fcgov.com/affordablehousing/cdbg.php.
Local Development Company (LDC) Low-Interest Loans - fcldc.com.
Affordable Housing Tax Credits - fcgov.com/affordablehousing.