Funding Sources for Historic Preservation

The Virginia Department of Historic Resources administers the Commonwealth's historic preservation program and serves as the State Historic Preservation Office in the federal program. There are several funding sources available for public, private, commercial, and residential historic preservation purposes.

1. Survey and Planning Cost Share Grants

  • Cost is split between the state and the locality,
  • State assumes responsibility for administering the grant,
  • Can be used for architectural or archeological surveys.

2. Certified Local Government Grants

  • Must have an area that is on the National Register
  • Must have an Ordinance that governs the area
  • Must have an Architectural Review Board  
  • Usually for smaller or specialized projects,
  • L ocality must provide matching funds.  

3. State and Federal Tax Credits

  • Property must be listed on the Virginia Landmarks Register, a contributing resource in a historic district on the Virginia Landmarks Register or certified as meeting the criteria for the Virginia Landmarks Register.
  • Property does not have to be income producing to qualify.
  • Owner must perform a substantial rehabilitation, defined as exceeding 50% of a buildings assessed value.
  • Phased in credit amounts against rehabilitation expenses.
  • Rehabilitation must comply with the Secretary of the Interior's Standards for Rehabilitation.

Federal:

  • Properties must be listed on the national Register of Historic Places or certified as contributing to the historic character of a registered historic district.
  • Provides a 20% credit against eligible rehabilitation expenses.
  • Only for income producing properties.
  • Owner must perform a substantial rehabilitation, defined as $5,000 or exceeding the owner's adjusted basis, whichever is greater.
  • Rehabilitation must comply with the Secretary of the Interior's Standards for Rehabilitation.

4. General Assembly Grants

  • Money for the "bricks and mortar" of a building.
  • Must be owned by the public or a non-profit organization.
  • Matching grants: locality must contribute to funding.
  • Rehabilitation must comply with the Secretary of the Interior's Standards for Rehabilitation.

5. Private Foundations