Wednesday, October 16, 13
The basics
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
The basics
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
The basics
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
The basics
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
The basics
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Minority 2012 US Population White
Non-white
2012 National Park Attendance White
Non-white
20%
54%
46%
80%
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Other options Mount an advocacy campaign Change local laws or zoning to affect the property Donations & Bargain sales Acquire a real estate option Acquire an easement or deed covenant Provide technical assistance and use incentive programs
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Partnerships
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Partnerships
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Easements & Covenants • When you sell a property, you
don’t have to sell the whole property • Maybe you have a farm and only want to sell the barn and 100 acres and keep 5 acres and the farmhouse • Covenants and easements are the same: you keep some property rights when you sell or some property rights are donated to you You can keep or have any property right donated • • Examples: The right to maintain the property in and out, the right to tear down a property the right to use the property for certain purposes, the right to restore the property, the right to sell the property to someone else P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Easements We keep and monitor about 130 easements and covenants
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Incentives for homes
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Incentives for homes 25%-30% state tax credit ($100,000 max) 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.
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Incentives for homes 25%-30% state tax credit ($100,000 max) 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 prerehabilitation value 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. P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Assistance with incentives
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Assistance with incentives
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Neighborhood Revitalization
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Donations & Bargain Sales
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Donations & Bargain Sales Taxes $8,000 value = $122 taxes/ year $350,000 value = $4,256
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Donations & Bargain Sales Taxes $8,000 value = $122 taxes/ year $350,000 value = $4,256
Jobs $350,000 Rehabilitation Costs $1,000,000 produces 18.1 jobs, or .0000181 jobs per dollar $350,000 x .000181 = 6.33 jobs P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Preservation Priorities
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Preservation Priorities 1. Belonged to “important” dead white guy
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Preservation Priorities 1. Belonged to “important� dead white guy
2. Provides economic benefit for entire community
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Context
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Context
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Context
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Context
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Suburbs
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Integration
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Integration
• •
Price Range $40,000 to $680,000 Income Ranges $16,000/year to $275,000/ year 94% variation
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Integration
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Integration
•
Price Range $206,000 to $270,000
Income Ranges •$61,800 to $81,000 year 24% variation
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Walkability
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Car Ownership vs. House
Honda Fit Fuel: $10,003 Insurance: $3,675 Financing: $995 State Fees: $1,400 Maintenance: $2,029 Repairs: $1,773 Depreciation: $8,631 Total 5 year cost: $28,506 P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Car Ownership vs. House
Honda Fit Fuel: $10,003 Insurance: $3,675 Financing: $995 State Fees: $1,400 Maintenance: $2,029 Repairs: $1,773 Depreciation: $8,631 Total 5 year cost: $28,506
Average Beall’s Hill House Principal & Interest: $39,875 Insurance: $3,500 Tax Deduction: +$5,375 Taxes: $2,500 Tax Credits: +$12,500 Maintenance & Repairs: $12,000 Appreciation & Equity: +$11,000 Total 5 year cost: $29,000
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Impact • College Hill’s property
tax revenue increased at double the rate of Bibb County from 2002-2011 • Property tax income increased 57% in College Hill vs. 30% for Bibb County • Total income increased nearly $1,000,000 in College Hill
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Property Tax
Revitalization Tax Income + Reduced Demolition cost + Reduced Police cost + Reduced chance of fire + Reuse of infrastructure
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Property Tax
Revitalization Tax Income Suburban Tax Income + Reduced Demolition cost - New sewer and water + Reduced Police cost - New power lines + Reduced chance of fire - New roads and sidewalks + Reuse of infrastructure - Expand trash collection -Expand fire and police service area
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Greenfield Expansion Macon City Limits4 mile radius
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Greenfield Expansion Macon City Limits4 mile radius 1 mile expansion5 mile radius
Adds 7 Square miles 57% increase in area to service P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Obsolete housing demolished
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Obsolete housing demolished
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Obsolete housing demolished
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Obsolete housing demolished
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Obsolete housing demolished
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Beall’s Hill
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
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, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Real Estate Changes • Demographic changes in the U.S. will require a vast increase in urban housing options
NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Real Estate Changes • 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
NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Real Estate Changes • 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
NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Real Estate Changes • 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
NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Real Estate Changes • 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 NEW URBANITY: THE RISE OF A NEW AMERICA, By ARTHUR C. NELSON, The Annals of The American Academy of Political and Social Science November, 2009 626 Annals 192
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
REALTORS
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
REALTORS Even the National Association of REALTORS says:
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
REALTORS 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”
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
REALTORS 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...”
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Households with Children Single person households
Households without Children
13%
48% 39%
U.S. Household Distribution in 1960 Wednesday, October 16, 13
Households with Children Single person households
Households without Children
27%
28%
45%
U.S. Household Distribution in 2030 (projected) Wednesday, October 16, 13
60
45
1960 2000
30
2030
15
Suburban 0
Households with Children
Wednesday, October 16, 13
Urban Small-lot Households without Children
Urban Loft Single Person Households
Second Sunday
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Second Sunday
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Mercer Village
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
CASE STUDY Purchase a home with tax credits in place
Wednesday, October 16, 13
Homes
Wednesday, October 16, 13
Historic 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
Homes
Wednesday, October 16, 13
Historic 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
Wednesday, October 16, 13
Down Payment Assistance The City of Macon offers down payment assistance up to $25,000 for people of low to moderate incomes
Wednesday, October 16, 13
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
Wednesday, October 16, 13
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
Wednesday, October 16, 13
980 Maple St.- Before
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
980 Maple St.- After
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
972 Maple St.- Before
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
972 Maple St.- After
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
1295 Ross St.- Before
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
1295 Ross St.- After
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Interior- Before
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Interior- After
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Interior- Before
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Interior- After
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
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Sales prices Average sales price
$110.00
$102.50
$95.00
$87.50
$80.00
2008
2009
2010
2011
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
2012
Days on Market Days on Market
150
113
75
38
0
Historic Macon
National Average
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Revitalization Partners
!
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Development
Historic Macon
Hills and Heights Partnership P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Private
Economic Development
$1,715,000 Historic Macon
Hills and Heights Partnership P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Private
Economic Development
$1,715,000 Historic Macon
$1,333,000 Hills and Heights Partnership
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Private
Economic Development
$1,715,000 Historic Macon
$1,333,000
$1,254,000
Hills and Heights Partnership
Private
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Economic Development
Property Tax
Sales Tax P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Jobs
Economic Development
$47,000/ year Property Tax
Sales Tax P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Jobs
Economic Development
$47,000/ year
$115,000
Property Tax
Sales Tax P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Jobs
Economic Development
$47,000/ year
$115,000
Property Tax
Sales Tax P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
64 Jobs Jobs
Josh Rogers, Executive Director jrogers@historicmacon.org phone 478-742-5084 • fax 478-742-2008 email info@historicmacon.org • site www.historicmacon.org
Wednesday, October 16, 13
Suburbs
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Suburbs
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13
Suburbs
P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org
Wednesday, October 16, 13