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What financial incentives are available for improving an old/historic building?

Most funding sources available for historic buildings are for properties listed on the National Register of Historic Places either by being in one of Albany’s National Register Historic Districts or being listed individually. To find out if your building is on the National Register of Historic Places, please review the Local Historic Inventory spreadsheet, which is sorted numerically and lists the National Register district name if the building is in a historic district. Contact Shawna Adams at 541-791-0176 with any questions.

Grants

Local

Albany's Residential Rehabilitation Matching Grant Program

The City of Albany has matching grant funds available for historic properties listed on the National Register of Historic Places through this Program. (Properties in the historic districts are on the National Register.) The matching grant is available for exterior projects including window repair, replacing non-wood windows, restoration of missing features, or repair of historic elements visible from the street. For more information, click on the links below for the grant application, or contact Shawna Adams at This email address is being protected from spambots. You need JavaScript enabled to view it. or 541-791-0176.  

Deadline for applications extended to March 20, 2015

Albany’s Central Albany Revitalization Area (CARA) Grants and Loans

CARA grants and loans are available for restoring Albany’s commercial and mixed use buildings in the heart of Albany’s CARA urban renewal district. Please visit the CARA website for more information.

State of Oregon

National Register properties are eligible to apply for the “Preserving Oregon” rehabilitation grants offered by the State Historic Preservation Office (SHPO). Applications are invited, usually in November, and are awarded competitively. Contact the SHPO for the grant schedule.

National 

Visit the “Federal Financial Assistance for Historic Preservation Projects” website. Grants are typically awarded to properties with regional, state or national significance as a result of unique craftsmanship, a historic event, or famous person residing on the site. Grant awards are extremely competitive.

Low-Income

Occasionally there is money available for certain types of improvement for low-income housing. Household income must be below 80% of the median family income in order to be eligible. Please contact the Community Services Consortium for more information, 541-752-1010. 

Tax Incentives

Oregon State Historic Preservation Office (SHPO) Special Assessment (“Value Freeze”) Program

This program allows a freeze on the assessed value of the property for a 10-year period, of properties listed in the National Register of Historic Places.  The program is designed as an incentive to assist property owners in the preservation of historic resources. Property owners must apply for the freeze, the law establishes a requirement for a public open house once a year, the installation of a property identification plaque, and the option for commercial property owners to apply for an additional 10-year freeze. Visit the SHPO’s tax incentives website for more information.

Eligibility for Federal Tax Credit

The SHPO administers a federal tax credit program that can save building owners 20% of the cost of rehabilitating their National Register-listed commercial, industrial, or rental residential building. Requirements include submitting a short application form and performing only work that meets appropriate rehabilitation standards. Visit the SHPO’s tax incentives website for more information.

Other Benefits

Building Code Leniency

Under Section 3403.5 of the Uniform Building Code/Oregon Structural Specialty Code, buildings on the Local Historic Inventory are eligible to be considered for waivers of certain normal code requirements in the interest of preserving the integrity of the property.

Technical and Design Assistance

Free technical assistance is available for any historic renovation or rehabilitation project – including many topical brochures and handouts explaining how to rehabilitate your building. The City's preservation planner has access to local and state experts, as well as technical information from the National Trust For Historic Preservation, the State Historic Preservation Office, the Historic Preservation League of Oregon, the University of Oregon School of Historic Preservation, and historic architects. City staff can assist you in preparing your preservation plan, finding solutions to old house problems, and helping you locate special products for historic buildings.  

Education

Seminars and workshops are held throughout the year to assist owners of historic properties with special historic building concerns. The downtown branch of the Albany Public Library (302 Ferry Street) also has a large collection of preservation related information that features a variety of historic resources materials including magazines, videos, books and local history.