Preservation incentives to bring historic Danville's past into the future

236 W Main Street,Danville KY 40422

12 October, 2021

Description

Bring the past into the future, using a variety of financing tools including Rehabilitation Tax Credits, to create a more vibrant downtown. Tuesday, October 12, 2021 | 7 to 8:30 PM CentreWorks | 236 W Main Street, Suite 300 (Entrance on 3rd Street, Take elevator to 3) Join the Heart of Danville, AU Associates and the Kentucky Heritage Council on Tuesday, October 12 from 7:00 PM to 8:30 PM at CentreWorks for an introductory workshop on how a variety of financing sources is creating housing and adding vibrancy to historic commercial districts. Holly Wiedemann, founder and President, AU Associates will share a case study on their work to rehabilitate the historic Robertston Apartments and Commerical space located in the heart of the historic downtown district of Springfield. Built in 1896, the Robertson Building was originally used as a dry goods supply store. Now, the Robertson Building has been given new life as the Robertson Apartments and Commercial Space. The iconic storefront of the building has been modernized and carefully restored to its former beauty to once again be used for commercial purposes, while the rest of building has been artfully transformed into eight apartments. AU Associates creates sustainable developments using a variety of financing sources including; Federal and State Historic Tax Credits, Housing Tax Credits, Affordable Housing Trust Funds, HOME, Federal Home Loan Bank, USDA, HUD 221(d)4, CDBG, MTEB’s, and conventional financing working with local community banks, national syndicators, investors, and large institutional investors. The workshop is free of charge, but registration is requested to advise of COVID alternatives if necessary. This workshop is designed for anyone considering a renovation of a historic commerical or residential property with the aid of Kentucky or Federal historic rehabilitation income tax credits. SPEAKERS Guest speakers include Holly Wiedemann, owner and President of AU Associates, Inc. and Diane Comer, Site Development Program Administrator for the Kentucky Heritage Council/State Historic Preservation Office. Holly Wiedemann founded AU Associates in 1990 on the principles of adaptive use and focuses on opportunities for urban infill as well as the revitalization of existing structures. AU Associates, has been directly responsible for creating over 1200 units of mixed income housing, 150,000 square feet of commercial space and over $250 million of projects across the Commonwealth of Kentucky and West Virginia. This number includes the most recently completed Lexington developments; Davis Park View, multi-family affordable housing in downtown, three phases of Parkside, the historic First Presbyterian Apartments located between the Lexington Courthouse and Gratz Park on Market Street, historic Midway School Apartments and Bakery, Windy Corner Market and several other adaptive re-use developments across Kentucky and West Virginia. AU also developed, on behalf of the City of Lexington, the adaptive re-use the historic Fayette County Courthouse. Wiedemann earned a Master’s Degree in Business Administration from Duke University and a Bachelor’s degree in Environmental Design and Land Use Planning from the University of Georgia. Diane Comer is Site Development Program Administrator for the Kentucky Heritage Council/State Historic Preservation Office. She works in partnership with a Staff Architect and Restoration Project Manager to administer federal and state historic rehabilitation tax credit programs and oversee the agency’s preservation easement holdings. She also serves as the agency’s Public Information Officer responsible for press releases and media inquiries, social media, and the agency’s website, www.heritage.ky.gov. About Rehab Tax Credits To qualify for federal or state rehabilitation tax credits, properties must be listed in the National Register of Historic Places or located within a National Register district. In 2020, Kentucky ranked 15th nationally utilizing the Federal Historic Rehabilitation Tax Credit, with 20 successfully completed projects generating investment of $54.3 million. This credit for commercial and income-producing properties can often be utilized in tandem with the state credit, a key provision that strengthens use and effectiveness of both programs. The Kentucky Historic Preservation Tax Credit is available for commercial/income producing properties, owner-occupied residential properties, and others including local governments and nonprofit organizations. For the state credit in 2020, KHC received a record 153 applications from 22 counties, with 127 of these approved pending completion of the work and representing $162 million of proposed private investment in historic sites rehabilitation.