PRESERVATION SPOTLIGHT #7- HCF FACADE AND REHAB LOAN PROGRAMS
Historic Columbus is one of the first organizations in the region to create a Revolving – Redevelopment Fund. Its purpose is to enable HCF to accept endangered properties, restore them to a certain level, and sell them to sympathetic buyers. The proceeds would then come back into the Fund to allow that same process to happen over and over again. Since 1968, Historic Columbus has saved over 80 properties and returned over $14 million back to the Muscogee County Tax Roles. The Revolving – Redevelopment Fund, with an initial contribution of $25,000 from the Junior League of Columbus, was the vision of our first Executive Director, Janice Persons Biggers. Without her foresight, Historic Columbus would not have been able to assist in the saving of endangered properties such as the Rankin House, the Depot, or the National Historic Landmark, The Folly - the first building in the Revolving Fund. HCF also wouldn't have been able to provide loan funding to incentivize private investment in our historic districts. The Façade Loan Program (within the Revolving – Redevelopment Fund) was originally created in 1997 and championed by Director Emeritus Brown Nicholson. In 2016, Historic Columbus announced an expanded Façade Loan program and a new larger Rehab Loan. Both were made possible by the donors of the 50th Anniversary Save Me A Place Capital Campaign and the Bradley-Turner Foundation through a Program Related Investment. Both loan programs are also underwritten by our incredible partner, NeighborWorks Columbus. These loans can help paint a house, install a new roof, repair windows, stabilize a foundation, or provide a complete restoration and give new life back to a property in danger of demolition. To date, over $1.4 million has been loaned to over 225 property owners to help make improvements to their homes. If you own a building over 50 years old, you can apply for one today! Façade Loan Program: Low-interest loan for any residential building over 50 years old and in need of repair or improvement to the exterior façade. They are available up to $15,000!
Rehabilitation Loan Program: Low-interest loan for any residential or commercial structure over 50 years old in need of repairs or improvements to the interior and/or exterior of the property. These are available up to $100,000!
For more information, please visit our website by clicking on the program above.
If you are able, please consider joining or making a donation to Historic Columbus. Your contribution will increase heritage education programming in our public schools and preservation projects along the Second Avenue corridor, the original city, City Village, Waverly Terrace, and MidTown Columbus. These are the places where your gift can make a transformational difference in a child’s sense of place and strengthen our neighborhoods one house at a time.