Here’s a brief overview of the financial benefits that are available to property owners in Old Town.
Design Assistance Program
For anyone that owns a property in Old Town.
Up to $2000/year available on a first come, first served basis. Can be used yearly.
Up to $2000 towards general design assistance to help property owners minimize the impacts of additions, alterations, and new construction on neighbors and on the overall historic character of Fort Collins. This should be enough money to get a few ideas from a local architect about ways to sensitively make changes to your house without negatively affecting neighborhood character.
Find out more at: https://www.fcgov.com/historicpreservation/design-assistance.php
Landmark Rehabilitation 0% Interest Loans
For anyone that owns a locally landmarked property, whether it’s been landmarked on its own or within a historic district.
Up to $7500/year available on a first come, first served basis. Can be used yearly. Must be matched by the home owner. Loan is repaid upon sale of the property.
The goal of the Fort Collins’s zero interest loan program is to enable homeowners to keep their historic homes well maintained. The program covers such things as the repair of windows, repointing of brick, structural improvements to the foundation, replacement of rotting wood, etc.
Find out more at: https://www.fcgov.com/historicpreservation/landmark-rehabilitation.php
20% State Income Tax Credit
For anyone that owns a landmarked property, whether it’s been landmarked on its own or within a historic district, that is doing a substantial project ($5000 or more).
Property owners can get up to $50,000 back in a dollar for dollar credit over ten years.
The projects are reviewed according to the Secretary of the Interior’s Standards for Rehabilitation. These were designed by the National Park Service to help people to renovate their homes in a historically sensitive manner. You do not need to “restore” your building in order to claim the tax credit, but you must preserve existing historic features whenever possible. The general rule is to talk to the State preservation folks early and often to ensure meeting their criteria for this credit.
Find out more at: https://www.historycolorado.org/preservation-tax-credit-fact-sheet
More articles on the financial advantages to owning a historic landmark:
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