Saving Places

In 1988, Preservation Greensboro Incorporated created the Development Fund (or “the Fund”) through grants totaling $100,000 from several community foundations. Now independent, the Fund provides service to the community through a variety of legal interests. It works as a “revolving fund”, a pool of capital created and reserved for historic preservation activities – with the condition that the money will be returned to the fund to be reused for similar activities in the future. The all-volunteer board of the Fund has assisted in the restoration or conservation of properties in the Greensboro neighborhoods of College Hill, Southside, Cedar Street, Fisher Park, Glenwood, and Irving Park. Additionally, the Fund has assisted in planning efforts in the Summit Avenue neighborhood and Southside.

Below is the Cascade Saloon, saved through a partnership between Preservation Greensboro, the Development Fund, the Covington Foundation, Downtown Greensboro, the City of Greensboro, and its owner the Christman Company.

Community Redevelopment

Utilizing preservation tools, such as tax credits, property tax abatements, grants, and professional skills of board members and volunteers, Preservation Greensboro serves as a think-tank for special preservation challenges. This proactive and collaborative approach to preservation recognizes that solving preservation challenges can require the use of these tools to devise preservation strategies for properties. Area Revolving Funds may serve as partners to acquire ownership or other legal interests (such as preservation easements) in historic properties. Preservation Greensboro also partners with owners and investors to rehabilitate and protect historic properties.

Preservation Easements

Several area Redevelopment Funds maintain preservation easements on properties that they received.  Properties may include buildings listed, or eligible for listing on the National Register of Historic Places, or those that have been designated as historic by municipalities/Guilford County, or PGI.  Acceptance of easements must be approved by the specific Revolving Fund board with the understanding that the specific terms of a preservation easement’s limitation of building alteration will vary depending on the donor’s wishes. For greater detail on preservation easements and potential tax benefits, please refer to the publication Easements to Protect Historic Properties.

Greensboro Area Case Studies

D. P. Foust Farm
Whitsett, Guilford County

Angle House
College Hill in Greensboro

Bowman House
Southside in Greensboro

Area Redevelopment Funds may consider partnerships and encourage new funding sources. If you would like to be involved with area Revelopment Funds, please contact the PGI office at 336-272-5003, or email Benjamin Briggs, Executive Director of Preservation Greensboro.