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Tax Increment Financing: an Improved Revitalization Tool by Renée Tribert, Project Manager, Making Places

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Tax Increment Financing: an Improved Revitalization Tool by Renée Tribert, Project Manager, Making Places Connecticut Preservation News November/December 2015 Volume XXXVIII, No. 6 Closing the Gap: Financing Hartford’s Downtown By Brad Schide, Housing Renaissance Connecticut Circuit Rider Downtown Hartford is undergoing a housing revival, and historic buildings have taken center stage, complementing other economic development projects such as the University of Connecticut campus, minor-league baseball stadium, and the Front Street redevelopment. With their strategic location, these historic build- ings have long been potential amenities, but private financing alone was not able to cover the full cost of renovating them. Only with new and expanded public funding can developers close the financing gap. In Hartford, money from three sources has helped make up the difference between financing and finished projects: Federal and State Historic Rehabilitation Tax Credits, the State Department of Economic and Community Development (DECD), and the Capital Region Development Authority (CRDA). This article will show how these gap funds made possible the reuse of four historic downtown buildings. All four projects used Federal and State Historic Rehabilitation Tax Credits. The Federal continued on page 6 In This Issue... ____________________________________________ ____________________________________________ Tax-Increment Financing for Preservation 4 ____________________________________________ Homeowner Tax Credit Expanded 7 ____________________________________________ News from Around the State 8 Historic Properties Exchange 16 The Connecticut Trust for Historic Preservation is a private, nonprofit organization. ISSN 1084-189X AIA/Connecticut Recognizes Preservation he Connecticut chapter of Kevin Roche John Dinkeloo and the original austerity and purity of the T the American Institute of Associates renovated Yale University’s religious building. The sensible addition is Architects (AIA) recognized a number Ingalls Hockey Rink, designed by almost invisible.” of projects involving historic buildings Eero Saarinen (1957; SR). The building In the category “Architecture the in its 2015 design awards. Three of the was updated to meet current codes Encompassing Art” this year’s award awards specifically honored preservation and improve energy efficiency, while went to the Merritt Parkway gas projects, while several other projects additional facilities were provided in an station canopies designed by Newman involving historic buildings were honored underground addition that preserves the Architects. According to the architects’ in other categories. original appearance. According to the website, the design moves the canopies In the Historic Preservation category, jury, “This is a beautiful renovation of a and pumps away from the station build- the long-vacant Cheney Mill Dye modernist icon with technical virtuosity. ings for functional and safety reasons House, in Manchester (1914; NHL), was A light hand was used. The low impact, and allows the restored stations to be converted to apartments by Crosskey recessive addition defers to the original experienced as they were meant to be. Architects. They repaired the deterio- building.” The jury praised the canopies as “ func- rated roof, cleaned and restored masonry, In Westport, Paul Bailey Architect tional, whimsical and elegant without and replaced rotted windows with close restored and expanded the Saugatuck being sentimental.” replicas. The major challenges were Congregational Church (1832, 1950s) Among the projects recognized in cleaning contaminants and fitting apart- after a devastating fire. In the process the general “Built Design” category was ments efficiently into the high-ceilinged of undoing the damage, the congrega- Charney Architects’ expansion of the spaces. The awards jury commented: tion was able to restore the original Central power plant (1917) at Yale. “This is an entirely sensible adaptive reuse sanctuary, improve access and fire safety, The addition matches the size and scale project, a wonderful way to preserve the and expand its facilities, allowing the of the original building, and employs a 20th century urban, industrial fabric. It is church to continue as a landmark in similar Collegiate Gothic vocabulary. a way to make positive the attributes of an the community. The jury said, “This The jury’s comment: “The elegant use of otherwise derelict building.” is a skillful and diligent restoration of a the appropriate 20th century industrial lost community landmark. It recaptures aesthetic and vocabulary allows the power plant to fit comfortably within the city.” New gas canopies at the Merritt Parkway rest areas, designed by Newman Architecture, received an award from AIA Connecticut. 2 Connecticut Preservation News, November/December 2015 © Robert Benson Photography At the Trust From the Executive Director here’s likely no other person in the logging mills, toxic waste sites, and nuclear hoods, providing a catalyst for community T nation on the staff of a historic production and waste disposal facilities. revitalization and homeownership in a preservation organization who shares Historic preservation was not this neighborhood to the north of Bank Street. with me my graduate school alma mater: program’s focus. Nonetheless, it allowed His house-by-house approach to rehabilita- the Audubon Expedition Institute. me to experience an issue and community tion offers steady work to a skilled crew Headquartered in Maine and accredited first hand, to talk to workers and residents and emphasizes energy efficiency and by Lesley College in Massachusetts, this and advocates and to triangulate their affordability for potential homeowners. It’s a program offered a two-year immersion in different perspectives and experiences in scale, pace and process of development that environmental studies and environmental order to reach a more complete, cohesive appears to hold great benefit as a model for education through a field-based, experien- understanding of the issue or experience other communities across Connecticut. tial education approach. before us. My hosts for a wide-ranging day in My fellow students and I roamed North I’ve frequently recalled these graduate Bridgeport were Maisa Tisdale, Adrienne America in a converted school bus laden school experiences as I’ve begun my intro- Farrar-Houel, and Liz Torres whose with backpacking gear, slept under big skies duction to this varied state of Connecticut. collective tour of the Park City took me every night, and chased down resource This last month, I’ve had the opportunity to from Seaside Village and the Bishop people and settings that would allow our tour several communities. The opportunity Cottages to Little Liberia—focusing on 20-person academic community to meet to experience a community and its priorities ongoing Sandy-recovery efforts at historic course needs across a range of environ- through local eyes has great value for me as Walters African Methodist Episcopal Zion mental subjects. While National Parks the Trust’s new director. Church—through the Stratfield Historic and Forests and big wilderness experiences In New London, developer Tony District and Washington Square Park. The were frequent destinations, I used my time Silvestri is investing in historic residential strategic investments of the Bridgeport “on the bus” to also push us to old-growth building stock in downtown neighbor- Neighborhood Trust (BNT) can be seen throughout the city. BNT has nearly 25 years of experience with historic building The Connecticut Trust for Historic Preservation is a nonprofit statewide membership organization established by a rehabilitation work, historically-compatible special act of the State Legislature in 1975. Working with local preservation groups and individuals as well as statewide organizations, it encourages, advocates and facilitates historic preservation throughout Connecticut. new construction, and initiatives that create affordable housing and support first-time Board of Trustees Advisory Council Connecticut Preservation News is Martha Alexander, New Haven published bimonthly by the Connecticut Officers Trust for Historic Preservation, 940 homeowners. Charles Janson, Chairman, Darien J. Barclay Collins, Sharon Whitney Avenue, Hamden, Connecticut Finally, in Stamford, Historic Garry S. Leonard, Vice-Chairman, Madison William R. Crowe, Canton 06517. Publication is made possible by support of the members of the Connecticut Edith Pestana, Secretary, Hartford Jared Edwards, FAIA, West Hartford Trust for Historic Preservation and by Preservation Advisory Commission Chair Edward W. Munster, Treasurer, Haddam Inger Elliott, Stonington funds provided through the Community Theodore F. Ells, Branford Investment Act in the State of Connecticut. Lynn Drobbin and newly named Historic Robert Svensk, Assistant Treasurer, The contents and opinions stated herein Southport Gerald Farrell, Jr., Wallingford do not necessarily reflect the views and Neighborhood Preservation executive Walter Fiederowicz, Litchfield policies of the State of Connecticut. Gubernatorial Appointees Mimi Findlay, New Canaan Advertisements do not reflect the views director Jill Smyth revealed for me that Natalie Ketcham, Redding or opinions of the Connecticut Trust for Lynn Friedman, Woodbury Historic Preservation. The Connecticut urban Stamford is an intriguing commu- Edith Pestana, Hartford Glenn Geathers, Hartford Trust for Historic Preservation does Edmund Schmidt, Darien not endorse advertisers and assumes no nity of neighborhoods, with a variety of Lee Kuckro, Wethersfield
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