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HISTORIC PRESERVATION IMPLEMENTATION STRATEGIES <br /> Historic preservation offers a chance to revitalize the heart of Downtown.Historic properties From the outset of the Downtown South Bend 2045 Example Funding Stack for a Public Project <br /> narrate the tale of South Bends growth,from its industrial beginnings to its changing urban initiative,the City has prioritized impLementability. <br /> landscape.Revitalizing these properties will enhance the cultural vibrancy and economic This approach guided the selection criteria for PhniUat mnNropicveretl Funtry other tlirplor Gapsrrs_> - <br /> sour <br /> sustainability of Downtown.Successfully rehabilitating a historic building stimulates further interventions,the vetting and development of action <br /> Leveraged Furore Investmem—> <br /> investment in the surrounding area.Amidst renewed interest in urban living,historic architecture steps,and the active involvement of partners from the <br /> enhances walkable downtowns.This document highlights downtown's historic buildings and beginning,The plan is grounded in market projections Total <br /> Local match and/or tax—) >Project <br /> provides recommendations for several at-risk properties. that reflect what is realistic and achievable within Cost <br /> the 20-year timeframe.The implementation strategy <br /> outlined in this chapter details responsibilities and State&Federal grants&bonds—+ <br /> roles,partnerships,and specific timeframes for <br /> execution. <br /> a N <br /> ';+lr�_.. Example Funding Stack fora Private Project <br /> Ya'."� �i�'`�t.,' _ TODAY 2045 <br /> .� s- .�. Established Program Flexible Program Philanthropic Grants;_ — is <br /> :1 - "+r... -- Will not change Could have significant Public incentives— u <br /> t .,,,� a rY substantially adjustment Z <br /> �`.� Owner/Developer Equity Z <br /> t.tQ,' H• 4oa1 i , r'' <br /> ', s '!1,/�f�i, t1!i <br /> �.o Subordinated Debt—4 Total t <br /> I • ; r"% 7.11.4itr... <br /> ° ' ... t r� ,s.1 >Cost I �,tl b wa <br /> �' ' 6I Conventional Bank Debr- r: � -J I S i- i e , L1 3 - — <br /> .'�'r- ., �, • Nam, t 1 tl <br /> 1110. <br /> 'ft - „;el ; �t,lt.I a • ' �� Example Funding Stack for a Non-Profit Project <br /> if to <br /> III <br /> . , _ . 1 I�'l' �/ Philanthropic Grants <br /> l ,y it y y,•0. rIF!Y\ <br /> : � � i � �-• •. ' •° ���� Public Incentives <br /> cost <br /> • <br /> 11.'7 <br /> '411C: n-Proht Caplet , <br /> `J " /-'"' .. �»-. if *'. - - Fundraising Campaigns <br /> „J.,I „, <br /> The historic State Theater sits in an important location on Michigan Street.The restoration and reuse of this key building would help j_ ' .Ii i•i a <br /> transform the 200 block of South Michigan Street 1 <br /> SO <br /> Executive Summary 6 <br />