What Local Historic District DOES NOT do: · Does not regulate paint colors · Does not require repairs or renovations to be made · Does not increase taxes beyond normal increases for the City or County · Does not prevent additions · Does not prevent non-contributing homes from being demolished · Does not require use of historic materials or historic building methods · Does not require that you open you home to the public · Does not restrict routine maintenance of properties
What Local Historic District DOES do: · Recognizes that Oakhurst has a distinctive historic character important to the overall character of the City of Decatur · Encourages creative and compatible development with historic areas · Requires that a Certificate of Appropriateness be obtained for exterior changes to contributing properties, demolition of buildings, and new construction. · Applies only to major renovations to the exterior of your home. Interior renovations are not restricted.

Wednesday, July 18, 2007

Preservation & Property Values in Indiana

Preservation & Property Values in Indiana (Sept. ‘97) - prepared for Historic Landmarks Foundation of Indianapolis, Indiana by Donovan D. Rypkema

“Historic Landmarks Foundation decided property values provided one concrete measure of the effect of local historic districts. To quantify the impact of local districts on property values, we commissioned Donovan Rypkema, a Washington, DC real estate expert. We collaboratively selected representative districts in Anderson, Elkhart, Evansville, Indianapolis, and Vincennes for the study. Rypkema’s study methodology, detailed on the next page, centered on Multiple Listing Service and U.S. census data. I’m pleased to report that our instincts are solidly verified by the numbers. As this study shows, property values rise with local historic district designation, equaling if not outpacing similar, undesignated areas and often the performance of the city
as a whole.”