2011 forsyth heritage awards

A recent Historic Macon Foundation restoration

Restoring More than Buildings: Developing Economies and Communities

Through Historic Preservation

Wednesday, October 19, 11

P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org

Why Preservation?



Soul of the Community



Living History Map

www.livinghistorymap.com


http://www.livinghistorymap.com

http://www.livinghistorymap.com


Dog Park



Tree Nursery

!



Second Sunday



Mercer Village



Neighborhood Revitalization



Revolving Fund model

Grants andLoan funds

Purchase property

Rehabilitate property

Sell property


Historic Macon has rehabilitated more than 150 historic buildings•Creating over 2,000 construction jobs•Investing $12,000,000 in historic building restoration


Neighborhood Revitalization


$0

$3,750,000.00

$7,500,000.00

$11,250,000.00

$15,000,000.00

Year 1 Year 2Year 3

Year 4Year 5

Year 7 Year 8

Year 9

Historic Macon’s projects Average increase


Economic Development


Additional $141,500.00In property taxes EVERY year


Creating New Taxes


0

25

50

75

100

Crim

e Rate

Huegenin Heights

Tattnall Square HieghtsNeighborhood

Crime Eliminated Downtown

Before RevitalizationAfter Revitalization

Crime dropped 80% in Huguenin Heights and 50% in Tattnall Square Heights thanks to Historic Macon’s investments


Reducing Crime


Historic Macon helps save the environment•Rehabilitating old homes is better for the environment than building new•Saving houses has kept 20,000 TONS of debris from entering the landfill

140 Buildings =

20,000 TONS of debris=

The weight of…

1,810 school buses


The Environment



Beall’s Hill


http://www.historicmacon.org



Days on Market

0

28

55

83

110

Historic Macon National Average

Days on Market



Property Tax Profit

0

5

10

15

20

Suburban development Historic preservation

Profit margin on taxes Cost to service



980 Maple St.- Before



980 Maple St.- After



972 Maple St.- Before



972 Maple St.- After



1295 Ross St.- Before



1295 Ross St.- After



1035 Elm St.- Before



1035 Elm St.- After



Interior- Before



Interior- After



Interior- Before



Interior- After



New Construction


13%

39%

48%

Households with Children Households without ChildrenSingle person households

U.S. Household Distribution in 1960


28%

45%

27%

Households with Children Households without ChildrenSingle person households

U.S. Household Distribution in 2030 (projected)


0

15

30

45

60

Households with Children Households without Children Single Person Households

1960

2000

2030

Suburban Urban Small-lot Urban Loft


• Demographic changes in the U.S. will require a vast increase in urban housing options

• Between 2010 and 2030, four in five new homes needed to accommodate household growth will be for households without children

• To meet the emerging demand for the new urbanity, roughly 44.5 million new attached and small-lot detached units will need to be built between 2007 and 2020

• Up to 27 million large-lot units may be surplussed by 2020• Most buyers would be willing to accept a home with

smaller square footage for one with a higher level of finish


Real Estate Changes

NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009626 Annals 192




Even the National Association of REALTORS says:•“Two-thirds of Americans now see being within easy walking distance of places in their community as an important factor in deciding where to live”•“The coming demographic convergence will push construction inward, accelerating the rehabilitation of cities...”• The property tax revenue from one downtown mixed use building on 3/4 of an acre is equal to about five Walmarts on 145 acres


REALTORS





Incentives for homes

Georgia’s state income tax rate is 6%. A household with $50,000 in income pays about $3,000 in state income tax each year. Historic Macon

Foundation’s houses come with $30,000 in tax credits, meaning buyers with $50,000 in income would not pay taxes for ten years.

8.5 year property tax freeze at pre-rehabilitation value

25%-30% state tax credit ($100,000 max)

Homes in Macon are charged property tax every year. For a $135,000 home, that tax is nearly $2,260 a year ($188/month). Historic Macon homes have

values that are frozen, decreasing your property taxes drastically.


CASE STUDY

Purchase a home with tax credits in place


Restored homes from Historic Macon Foundation

include tax credits

This home at 980 Maple St. included frozen property taxes at $200 per year and $30,000 in state income tax

credits.

The net monthly cost to own this $130,000 home is

$500 per month

Homes


HomesHistoric home

Any other home

House Price $135,000 $135,000

Down Payment $4,725 $4,725

You Get a Raise! $2,700/year $0

Reduced Property Tax $205 $2,260

Total Savings $44,480 $0

Total Monthly Cost $500 $1,160


Down Payment Assistance

The City of Macon offers down payment assistance up to $25,000 for people of low

to moderate incomes

Mercer University offers $20,000 to all employees for

down payments

Georgia Dream can offer $5,000 to $7,500 to help with

down payment and closing costs



Why Preservation?


Josh Rogers, Executive [email protected]

phone 478-742-5084 • fax 478-742-2008email [email protected] • site www.historicmacon.org


mailto:[email protected]




http://www.historicmacon.org/

http://www.historicmacon.org/

2011 forsyth heritage awards

Documents

historic preservationwednesday

historic buildingscreating

historic macons investmentsp

historic building restorationp

tons of debris

tattnall square heights

huguenin heights

construction jobsinvesting