Thursday news conference will focus on economic returns of state and federal historic rehabilitation tax credit programs and benefits to building owners, communities

Thursday news conference will focus on economic returns of state and federal historic rehabilitation tax credit programs and benefits to building owners, communities

FRANKFORT, KY – August 21, 2013 – (RealEstateRama) — The economic impact of investing in historic buildings, and rehabilitation tax credits that help make this possible, will be the focus of a news conference at 4 p.m. Thursday in front of the Lasting Impressions Salon & Spa building at 14 East 2nd St., in downtown Maysville.

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The public is invited to attend to learn more about these programs and meet state officials involved with preservation and heritage tourism initiatives. Afterward, the building will be open for tours until 7 p.m.

Lasting Impressions Salon and SpaThe news conference is taking place in conjunction with the summer retreat and statewide meeting of the Kentucky Main Street Program (KYMS) Aug. 21-23, which is drawing local program managers from across the Commonwealth. News conference speakers will include Bob Stewart, secretary of the Kentucky Tourism, Arts and Heritage Cabinet; Lindy Casebier, deputy secretary; Craig Potts, executive director of the Kentucky Heritage Council (KHC) and state historic preservation officer; and Maysville Mayor David Cartmell.

The news conference will focus on the considerable economic impact that rehabilitating a single historic building in a downtown commercial district can have, the momentum this can create, and how many of these projects are made possible only through the use of state and federal historic rehabilitation tax credits. The highlight will be an announcement of the statewide impact of the Kentucky Historic Preservation Tax Credit for 2013; and cumulatively, the impact state and federal rehabilitation tax credits are having in facilitating public and private investment in communities.

Speakers will also include building owner Patti North, who along with her husband, Carl, rehabilitated the property to house the salon on the first floor and incorporate living space upstairs. In addition to having an owner-occupied residential business, the Norths also lease first-floor space to The Lamb’s Ear gift shop, and they have launched a second phase of renovation to create an apartment to generate additional lease income.

“We made a conscious decision to rehab this building and make it into an appealing place where we can live and work, instead of having a house in the suburbs and the salon business in a nondescript strip mall,” Patti said. “The point is, you don’t have to be wealthy or a philanthropist to do this. In fact, rehab tax credits from the first phase of renovation are making the second phase possible, and this is generating momentum not only for our businesses, but for others nearby.”

The Kentucky Heritage Council administers state and federal historic rehabilitation tax credits, and Kentucky Main Street, which is the oldest statewide downtown revitalization program in the nation. Maysville is one of the longest-participating, and most successful local programs.

KYMS Summer Meeting and Retreat
“We Make Downtown Better” is the theme of the KYMS summer meeting, co-sponsored by Maysville Renaissance and the Maysville-Mason County Convention and Visitors Bureau. Sessions will take place at the Maysville Conference Center, 24 E. 2nd St., and many will be presented by Kentucky’s experienced local program managers. About 60 participants are expected.

Kentucky Main Street was created in 1979 to jumpstart community revitalization and economic development by focusing investment in historic buildings and infrastructure in downtowns. The program follows the National Trust Main Street Center Four-Point Approach® emphasizing organization, promotion, design and economic restructuring as components of a successful strategy.

Participation requires local commitment and financial support, including a community Main Street Manager who administers the program through volunteer boards. In turn, KHC provides technical and design assistance, on-site visits, training and access to nationally recognized consultants. The program has served more than 100 communities throughout the state.

Wednesday’s meeting will begin with “Main Street 101,” for new managers and those needing a refresher course, presented by Julie Wagner, Harrodsburg First executive director. Other sessions will include an overview of business essentials and “Main Street Business Plan,” an assessment of the National Main Street Center’s 10 national standards. Other activities will include a tour of the Cox Building.

Thursday, sessions will cover best practices for board recruitment and fundraising, highlight successful promotions, and feature training by KHC staff in downtown design and utilizing incentives including state and federal rehab tax credits and the Certified Local Government Program. Lori Meadows, executive director of the Kentucky Arts Council, and Elaine Wilson, executive director of the Office of Adventure Tourism, will discuss how Cultural Arts Districts and Kentucky Trail Towns can partner with the Kentucky Main Street Program to elevate heritage tourism opportunities and contribute to creating authentic experiences for visitors. Participants will also enjoy a reception at the Kentucky Gateway Museum Center, dinner at Caproni’s Restaurant and an evening event at the Washington Opera House.

Friday’s featured speaker will be Kimberly Nyberg, a long-time director of the Madison, Indiana, Main Street Program and most recently director of Tennessee Main Street, who will talk about the challenges and rewards of leadership. The program will wrap up by noon.

Registration for the KYMS meeting is open to Main Street managers, board members, elected officials and representatives from interested communities. For information, contact Program Administrator Kitty Dougoud at 502-564-7005, ext. 127 or kitty.dougoud (at) ky (dot) gov.

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An agency of the Kentucky Tourism, Arts and Heritage Cabinet, the Kentucky Heritage Council/State Historic Preservation Office is responsible for the identification, protection and preservation of archaeological resources and historic buildings, sites and cultural resources throughout the Commonwealth, in partnership with other state and federal agencies, local communities and interested citizens. This mission is integral to making communities more livable and has a far-ranging impact on issues as diverse as economic development, jobs creation, affordable housing, tourism, community revitalization, environmental conservation and quality of life.

Diane Comer
(502) 564-7005 Ext. 120
diane.comer (at) ky (dot) gov

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