Durham Revitalization Partnerships

Page 1


Preservation History

“God help me I sometimes cannot stomach it when I see with what negligence, or to put it more crudely, by what avarice they allow the ruin of things because of their great nobility the barbarians, the raging enemy have spared; or those which all-conquering, all ruining time might easily have allowed to stand forever.� -- Leon Battista Alberti, 15th century

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


The basics

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


House Museums

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


First property

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


Neighborhood Revitalization

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


Economic Impact 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


Huguenin Heights

!

• Four square blocks • Bounded by Interstate,

two major collector roads and a public park • 16 projects completed over five year period

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


Vernacular buildings

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


Economic Development 100%

100%

66%

10% Homes sold

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

15% Crime


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


Property Tax

Revitalization Tax Income + Reduced Demolition cost + Reduced Police cost + Reduced chance of fire + Reuse of infrastructure

Suburban Tax Income - New sewer and water - New power lines - New roads and sidewalks - 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


Value and Appreciation Properties in historic districts sold for $67,000 more than houses outside districts !

Historic properties saw an additional 21 points in appreciation than nonhistoric properties

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


Foreclosrures

Historic districts experience foreclosure rates half the rate of non-historic neighborhoods

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


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


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


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


Walkability

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


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


Obsolete housing demolished

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


Beall’s Hill

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


Households with Children Single person households

Households without Children

13%

48% 39%

U.S. Household Distribution in 1960


Households with Children Single person households

Households without Children

27%

28%

45%

U.S. Household Distribution in 2030 (projected)


60

45

1960 2000

30

2030

15

Suburban 0

Households with Children

Urban Small-lot Households without Children

Urban Loft Single Person Households


CASE STUDY Purchase a home with tax credits in place


Homes 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 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


980 Maple St.- Before

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


980 Maple St.- After

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


972 Maple St.- Before

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


972 Maple St.- After

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


1295 Ross St.- Before

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


1295 Ross St.- After

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








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


Partnerships

•City of Macon benefits from reduced crime, reduced police responses, reduced fires •Rehabilitation eliminates need and cost of tear-downs •Increased property taxes •Increased sales taxes from construction materials purchased •Increased employment from construction workers •Elimination of slum and blight

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


Partnerships

•Mercer University needs increased campus security •Fences and patrols cannot provide the same security as a safe neighborhood •Faculty and staff living near the campus do not require parking •Five year retention agreements limit recruiting costs and retain talented faculty P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org


Partnerships

•Area’s largest employer •Employs over 1,000 nurses •Nursing turnover averages 10% per year •Average cost to recruit a nurse tops $25,000 •In addition, average parking space per employee costs

$15,000 to construct plus land acquisition and maintenance •Medical Center can institute down payment assistance with five year retention agreement for employees who will buy a house within walking distance of work P.O. Box 13358 Macon, GA 31208 Ph: 478.742.5084 Fax:478.742.2008 www.historicmacon.org


Revitalization Partners

!

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


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

2012


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


Economic Development

$47,000/ year

$115,000

64 Jobs

Property Tax

Sales Tax

Jobs

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


Josh Rogers, Executive Director jrogers@historicmacon.org ! phone 478-742-5084 • fax 478-742-2008 email info@historicmacon.org • site www.historicmacon.org


Suburbs

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


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