Preservation Maryland is pleased to announce it has been selected as the recipient of a grant from the Rhode Island-based 1772 Foundation. The grant will support a feasibility study and business plan to assist with the creation of a Maryland-based historic property redevelopment program.
HISTORIC PROPERTY REDEVELOPMENT PROGRAM FEASIBILITY STUDY
With this critical funding, Preservation Maryland will engage a preservation consultant to assist in scoping for the new program and consider a variety of opportunities and tools while also reviewing unmet needs in the statewide preservation community.
Part of the process will involve reviewing prior preservation losses and identifying what tools or strategies may have prevented their destruction. In addition, an in-depth statewide surveying process will begin in March through the collection of information from key stakeholders and the creation of a work-group from around the state.
1772 Foundation Executive Director, Mary Anthony, explained, “Historic properties redevelopment programs, sometimes known as revolving funds, greatly increase the number of historic buildings we can save and put back into use by the community. Unlike more reactive, traditional preservation models, they are proactive and robust; they move at the speed of the market, using the same tools and financing as for-profit developers.”
Preservation Maryland Executive Director, Nicholas Redding, noted, “We are aggressively seeking out ways to bring the most innovative preservation tools to every corner of Maryland and this funding is a big step in that process. We are very appreciative of the support of the 1772 Foundation – a true national leader in the field of historic property redevelopment.”