Economic Development Incentives

All members of the Preservation of Wilson Board of Trustees and committee members support and encourage preservation minded buyers to take advantage of the many Economic Development Incentives that are available. These have been created at the local, state and federal level to spur economic development.

The following will outline the program. For more information, contact Preservation of Wilson at 252-234-7694 or kfb@preservationofwilson.com.

• Historic Tax Credits are available to investors when working on a historic structure that qualifies for the program. Most construction costs are eligible. These credits require use of the Secretary of the Interior's Standards for Rehabilitation and must be pre-approved by the State Preservation Office. Tax Credits are not a deduction; they will reduce the amount of taxes owed. There is no cash outlay given to the investor and you must own the property for at least 5 years.  For more information, contact John Wood at 252-830-6580 or john.p.wood@ncdcr.gov
  
  • Income producing property offer:

    20% State tax credit
    20% Federal tax credit

  • Non-income producing property offer:

    30% State tax credit
    No Federal credit

• Landmark Property Tax Reduction:
  When a property is recognized as a Local Landmark a 50% savings on property taxes is offered to the property owner. Landmarks are approved for designation by the City Council upon recommendation by the City of Wilson, Hostoric Preservation Commission, and a department of The Planning & Development Services.
  
  
  The Wilson County Tax Office has the appropriate forms to be completed if a property is a Local Landmark. Each January the County reviews these applications. The form needs to be completed only once, unless there is new ownership.

• Waiving Permit Fees for Residential Owner-Occupied Properties:
  Building, zoning, electrical, heating and air conditioning, plumbing, and land development fees are waived for any new construction, renovation, remodel or addition for a residential structure, restricted to owner-occupied in the historic districts.  The deed must state that the property will have perpetual owner occupancy (and disallowing use as a rental or other than owner-occupied dwelling).

Preservation of Wilson is non-profit I.R.S. 501c3 organization with the mission to recruit new owners to revitalize historic properties that are located in Wilson County. Much of our work focuses on vacant and abandoned properties. We accept Options to Purchase and when appropriate, we accept property donations.

• Acquire historic properties and find purchasers willing and able to rehabilitate them.
• Encourage owner-occupied use as a single family residency or place of business.
• Support preservation minded developers seeking real estate investment opportunities.
• Require all properties to be sold with unique Protective Covenants which will be attached to the Deed and a Rehabilitation Agreement outlining the scope and timeline of work. New construction requires a Reconstruction Plan.

Protective Covenants

In partnership with the buyer, we determine the historical, cultural and architectural significance of the property – both exterior and interior features – that will be important for a long time into the future. The Protective Covenants will be attached to the Deed.

Rehabilitation Agreement

In partnership with the buyer, we draft the Rehabilitation Agreement which is an outline of the scope of work and timeline for completion, along with the end use of the property. We support work that is completed in phases.

New Construction Plan

Prior to any new construction to a tract of land that is sold by Preservation of Wilson, we work in partnership with the buyer or developer to ensure the new structure is in keeping with the goals of Preservation of Wilson and within the design guidelines by the Historic Preservation Commission.

Working with Real Estate Agents

Preservation of Wilson encourages a working relationship with the realtors in Wilson County. We will assist them in gaining a greater understanding of the historic districts and the economic development incentives available.

Preservation of Wilson welcomes the real estate community to become involved in marketing and showing our properties. If an agent brings a buyer, the realtor will be compensated with a 3% realtor’s commission when the Option states that the owner has agreed to cover the Realtor’s Commission. Preservation of Wilson will consider a 3% commission if the property deems this necessary.

The Secretary of the Interior's Standards for Rehabilitation

All Preservation of Wilson's projects are based on the Secretary of the Interior's Standards for Rehabilitation. 

The Secretary of the Interior is responsible for establishing standards for all national preservation programs under Departmental authority and for advising Federal agencies on the preservation of historic properties listed or eligible for listing in the National Register of Historic Places.

The Standards for Rehabilitation, a section of the Secretary's Standards for Historic Preservation Projects, address the most prevalent preservation treatment today: rehabilitation. Rehabilitation is defined as the process of returning a property to a state of utility, through repair or alteration, which makes possible an efficient contemporary use while preserving those portions and features of the property which are significant to its historic, architectural, and cultural values.

The Standards that follow were originally published in 1977 and revised in 1990 as part of Department of the Interior regulations (36 CFR Part 67, Historic Preservation Certifications). They pertain to historic buildings of all materials, construction types, sizes, and occupancy and encompass the exterior and the interior of historic buildings. The Standards also encompass related landscape features and the building's site and environment as well as attached adjacent or related new construction.

The Standards are to be applied to specific rehabilitation projects in a reasonable manner, taking into consideration economic and technical feasibility.

1. A property shall be used for its historic purpose or be placed in a new use that requires minimal change to the defining characteristics of the building and its site and environment.

2. The historic character of a property shall be retained and preserved. The removal of historic materials or alteration of features and spaces that characterize a property shall be avoided.

3. Each property shall be recognized as a physical record of its time, place, and use. Changes that create a false sense of historical development, such as adding conjectural features or architectural elements from other buildings, shall not be undertaken.

4. Most properties change over time; those changes that have acquired historic significance in their own right shall be retained and preserved.

5. Distinctive features, finishes, and construction techniques or examples of craftsmanship that characterize a property shall be preserved.

6. Deteriorated historic features shall be repaired rather than replaced. Where the severity of deterioration requires replacement of a distinctive feature, the new feature shall match the old in design, color, texture, and other visual qualities and, where possible, materials. Replacement of missing features shall be substantiated by documentary, physical, or pictorial evidence.

7. Chemical or physical treatments, such as sandblasting, that cause damage to historic materials shall not be used. The surface cleaning of structures, if appropriate, shall be undertaken using the gentlest means possible.

8. Significant archeological resources affected by a project shall be protected and preserved. If such resources must be disturbed, mitigation measures shall be undertaken.

9. New additions, exterior alterations, or related new construction shall not destroy historic materials that characterize the property. The new work shall be differentiated from the old and shall be compatible with the massing, size, scale, and architectural features to protect the historic integrity of the property and its environment.

10. New additions and adjacent or related new construction shall be undertaken in such a manner that if removed in the future, the essential form and integrity of the historic property and its environment would be unimpaired.

Certain treatments, if improperly applied, or certain materials by their physical properties, may cause or accelerate physical deterioration of historic buildings. Inappropriate physical treatments include, but are not limited to: improper repainting techniques; improper exterior masonry cleaning methods; or improper introduction of insulation where damage to historic fabric would result. In almost all situations, use of these materials and treatments will result in denial of certification. In addition, every effort should be made to ensure that the new materials and workmanship are compatible with the materials and workmanship of the historic property.