On Monday we received a check representing an engagement to consult on a project of historic significance in New Britain. In previous blogs our new strategic plan has been
608 Main Street, New Britain HPA has been contracted to guide the developer through the tax credit process.
discussed which includes exploring ways for the Preservation Alliance to offer services to historic property owners who need technical assistance with their projects. Since our founding the organization has relied almost entirely on grant income. This is a fool’s game in the 21st Century for robust non-profits. Simply reflect on two main sources of income for us- the State of Connecticut and City of Hartford, both under tremendous budgetary constraints.
Historic preservation in Hartford is not alone in figuring out how to make our way. On a national level, preservation groups are exploring how to operate, and do the work without grant funding. Our strategic business plan anticipates how to grow by seeking business opportunities which will rely on the assembled experience and skill of our staff. Connecticut has a most dynamic historic tax credit program for both commercial and residential properties. Funds generated from utilizing these credits go a long way to make historic preservation more financially feasible. Our expertise in design, real estate finance and preservation strategies makes us uniquely qualified to consult with property owners and navigate the strictures or rules often imposed to take advantage of these credits.
Since late 2014 we have grown in our ability to provide technical assistance to property owners and our success is gaining recognition. Much of the time our advice is made available for no cost. We wish to encourage preservation at all income levels. However we recognize a need for consulting capacity for bigger, more complex projects. We believe that the value added in easing the process of generating financial resources with historic preservation offers an opportunity which we plan to capture. Our reach needs to be greater than advising what color to paint a porch. Through this blog and other media we will begin to talk about other technical assistance that can be found through the Preservation Alliance.
Continue to check in on our website and follow us on Facebook as we continue to discuss our ability to help. We always welcome your thoughts, comments and questions so please post here or on Facebook or contact me at frank@hartfordpreservation.org.