Certified Historic Structure

A Certified Historic Structure is a building officially recognized for its historical significance by a ratified government authority, enabling it to qualify for specific preservation and restoration incentives.

Certified Historic Structure

A Certified Historic Structure is a building that has been acknowledged and certified for its significance in American history, architecture, archeology, engineering, or culture by the National Park Service or equivalent governmental authority. This certification often allows the structure to qualify for various tax incentives, grants, or benefits that support its preservation and maintenance.

Examples

  1. The Old Post Office Pavilion in Washington, D.C. - Recognized as an iconic historic structure, this building underwent significant restoration funded partly through tax incentives.

  2. The Chrysler Building in New York City - Another certified historic structure known for its architectural and cultural significance. It’s a prime example of preserving historic commercial properties.

  3. The Drayton Hall in Charleston, South Carolina - This historic site shows how residential structures can benefit from the preservation status, ensuring their historical essence is maintained for future generations.

Frequently Asked Questions

Q: How does a property become a Certified Historic Structure?

A: A property can become a Certified Historic Structure by being listed on the National Register of Historic Places or by being certified by the National Park Service as contributing to the historical significance of a registered historic district.

Q: What are the benefits of a building being designated as a Certified Historic Structure?

A: Benefits include eligibility for federal and state tax incentives, access to grants for preservation, reduced permissible property taxes, and increased property value due to its historical significance.

Q: Are there restrictions on alterations to a Certified Historic Structure?

A: Yes, there are specific guidelines and standards that must be followed when performing alterations to ensure the historical integrity of the property is preserved.

Q: Can a Certified Historic Structure be used for commercial purposes?

A: Yes, certified historic structures can be used for commercial purposes as long as the preservation guidelines are adhered to.

  • Historic Preservation: The process of identifying, maintaining, and managing buildings and sites that have historical significance.

  • National Register of Historic Places: The official list of the Nation’s historic places worthy of preservation.

  • Historic Tax Credits: Financial incentives provided by the government to encourage the preservation and rehabilitation of historic structures.

  • Adaptive Reuse: The process of repurposing buildings for viable new uses while preserving their historical features.

Online Resources

References

  • National Park Service. “Certified Historic Structures - Preservation Incentives for Historic Buildings.” www.nps.gov.
  • United States Department of the Interior. “Standards for Rehabilitation & Guidelines for Rehabilitating Historic Buildings.” www.cr.nps.gov.

Suggested Books for Further Studies

  • “Preserving Our Past: A History of Historic Preservation in the United States” by Victoria O’Donnell
  • “The Economics of Historic Preservation: A Community Leader’s Guide” by Donovan D. Rypkema
  • “From the Ground Up: Preserving Stories Through Historic Preservation” by Sandra Weber

Real Estate Basics: Certified Historic Structure Fundamentals Quiz

### What is a Certified Historic Structure primarily recognized for? - [x] Its historical significance - [ ] Its financial value - [ ] Its location - [ ] Its size > **Explanation:** A Certified Historic Structure is primarily recognized for its historical significance, contributing to cultural and historical preservation. ### How can a property achieve Certified Historic Structure status? - [ ] By being built before 1900 - [ ] By having unique architecture only - [x] By being listed on the National Register of Historic Places or being certified by the National Park Service - [ ] Through ownership by a historical figure > **Explanation:** A property achieves Certified Historic Structure status by being listed on the National Register of Historic Places or certified by the National Park Service for its historical contribution. ### What are some benefits of owning a Certified Historic Structure? - [ ] Higher insurance premiums - [x] Eligibility for federal and state tax incentives - [ ] No need for any maintenance - [ ] Guaranteed increased rental income > **Explanation:** Owners of Certified Historic Structures are eligible for federal and state tax incentives, making it financially beneficial to preserve historically significant properties. ### Are there guidelines for altering Certified Historic Structures? - [x] Yes, there are specific guidelines - [ ] No, any alteration is permitted - [ ] Only if used commercially - [ ] Only during maintenance > **Explanation:** Specific guidelines must be followed when altering Certified Historic Structures to maintain their historical integrity. ### Can Certified Historic Structures be used for commercial purposes? - [x] Yes - [ ] No - [ ] Only residential uses are allowed - [ ] Only office spaces are allowed > **Explanation:** Certified Historic Structures can be used for commercial purposes as long as the preservation guidelines are adhered to, supporting diverse utilization. ### What is Historic Preservation? - [ ] The construction of new buildings - [ ] The renovation of contemporary offices - [x] The process of maintaining and managing historic buildings and sites - [ ] The daily maintenance of residential properties > **Explanation:** Historic Preservation involves the maintenance and management of buildings and sites with historical significance. ### What does the National Register of Historic Places list? - [ ] Only castles - [ ] Only properties in rural areas - [ ] Properties with recognized historical value - [ ] Only residential buildings > **Explanation:** The National Register of Historic Places lists properties recognized for their historical value, contributing to national heritage preservation. ### What is the aim of Historic Tax Credits? - [ ] Increase property taxes - [ ] Discourage old building usage - [x] Encourage the preservation and rehabilitation of historic structures - [ ] Eliminate historic buildings > **Explanation:** Historic Tax Credits aim to encourage the preservation and rehabilitation of historic structures by providing financial incentives. ### Can new buildings become Certified Historic Structures immediately after construction? - [ ] Yes, if they look old - [ ] Yes, if they are in a historic district - [x] No, they must gain historical significance over time - [ ] Yes, if they use recycled materials > **Explanation:** New buildings need to gain historical significance over time to become certified as historic structures, commemorating their contributions through recognized historical value. ### Which organization is involved in certifying historic structures? - [ ] Local property management companies - [ ] Real estate agencies - [x] National Park Service - [ ] State housing authorities > **Explanation:** The National Park Service plays a vital role in certifying historic structures by ensuring they meet recognized standards of historical significance.
Sunday, August 4, 2024

Real Estate Lexicon

With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!

Real Estate Real Estate Investment Real Estate Law Property Management Real Estate Transactions Real Estate Financing Real Estate Development Mortgage Property Valuation Commercial Real Estate Real Estate Appraisal Real Estate Valuation Property Rights Land Use Property Ownership Urban Planning Property Value Real Estate Finance Foreclosure Market Value Real Estate Contracts Depreciation Property Law Interest Rates Construction Estate Planning Lease Agreement Appraisal Investment Financing Mortgage Loans Financial Planning Real Estate Terms Legal Terms Zoning Real Estate Market Rental Income Market Analysis Lease Agreements Housing Market Property Sale Interest Rate Taxation Title Insurance Property Taxes Amortization Eminent Domain Investment Analysis Property Investment Property Tax Property Transfer Risk Management Tenant Rights Mortgages Residential Property Architecture Investments Contract Law Land Development Loans Property Development Default Condemnation Finance Income Tax Property Purchase Homeownership Leasing Operating Expenses Inheritance Legal Documents Real Estate Metrics Residential Real Estate Home Loans Real Estate Ownership Adjustable-Rate Mortgage Affordable Housing Cash Flow Closing Costs Collateral Net Operating Income Real Estate Loans Real Property Asset Management Infrastructure Mortgage Loan Property Appraisal Real Estate Investing Urban Development Building Codes Insurance Loan Repayment Mortgage Payments Real Estate Broker Shopping Centers Tax Deductions Creditworthiness Mortgage Insurance Property Assessment Real Estate Transaction