Historic Structures Reports Historic Structures Reports are important during the first phase of planning for any large scale or long term rehabilitation project. The Reports provide historic, graphic, and physical information about a property’s construction and existing condition and serve as a planning document for decisions on preservation, rehabilitation, restoration, or reconstruction treatments. Historic Structures Reports can also outline management or owner goals and guide the budget and construction schedules for the project. Building owners and managers use AltusWorks’ Historic Structures Reports to help implement their capital improvement programs.

National Register of Historic Places The National Register of Historic Places is the federal government’s list of cultural resources recognized for their historical and architectural significance and considered worthy of preservation. Authorized under the National Historic Preservation Act of 1966, the Register is part of a national program to coordinate and support public and private efforts to identify, evaluate, and protect historic resources. National Register properties are documented and evaluated according to uniform standards. The criteria include significance to local or national history through the integrity of design, location, setting, materials, feeling, or association. Listing in the National Register creates many benefits for owners, including the eligibility for federal and state tax benefits, recognition of its significance to the nation, the state, or the community, and consideration in the planning for federally-assisted projects. AltusWorks works with the Illinois Historic Preservation Agency and National Park Service to confirm eligibility requirements and prepares the National Register nomination application process.

Local Landmark and Historic District Nominations Many communities adopt the concept of Local Landmark and Historic District designation as a way to recognize and preserve historic structures at the local level. AltusWorks assists communities and individuals wishing to nominate a particular structure as a Local Landmark or survey an area for a Historic District. AltusWorks researches, photographs, and writes appropriate applications, as well as works with communities and agencies to create the designation process. The benefits of becoming a Local Landmark or a contributing building in a Historic District include the availability of certain tax credits and the possibility of raising the property values in the area. In April 2007, AltusWorks was ranked as the top most qualified candidate by the City of Naperville in their search for a historic preservation architectural consultant.

Property Tax Assessment Freeze In 1983, the State of Illinois passed a statute enabling homeowners who rehabilitate their landmark property to receive a freeze on their property tax assessments. It is available to properties that are individually listed on the National Register, that are contributing buildings in a National Register Historic District, that are designated local landmarks or that are contributing buildings in a local landmark district that has a preservation ordinance which has been approved for the assessment freeze. The Property Tax Assessment Freeze is available for owner-occupied residences, including single family homes, condos or multi-unit (up to 6 units) buildings. AltusWorks prepares all the necessary documentation to ensure that the property qualifies for the program, creates designs that follow the Secretary of the Interior’s Standards for Rehabilitation, and completes the final paperwork for state officials. AltusWorks advises the owner on a preservation approach for the structure that is the most economically feasible while meeting the requirements of the program.

20% Federal Income Tax Credit In 1976, the National Park Service created Federal Historic Preservation Tax Incentives for owners who rehabilitate income-producing landmark buildings. A 20% income tax credit is available for the rehabilitation of commercial, industrial, agricultural and rental residential buildings. A credit lowers the amount of tax owed—this is more advantageous than a tax deduction, which lowers the amount of income subject to taxation. AltusWorks prepares the necessary paperwork as well as creates rehabilitation plans that meet the Secretary of the Interior’s Standards for Rehabilitation. The firm files all completed paperwork with the Illinois Historic Preservation Agency. 10% Federal Income Tax Credit The 10% Federal Income Tax Credit is for income-producing buildings that are not eligible for the National Register or local landmark status, but are built before 1936.

Class L Property Tax Incentive: Cook County Certain properties located in Cook County that have been individually designated as a local landmark or as a contributing building within a designated historic or landmark district may be eligible for the Class L Property Tax Incentive. This incentive reduces property tax rates for 12 years for rehabilitating a landmark building. The property must be located within a municipality or area designated as a Certified Local Government and used for commercial, industrial, multi-family residential or not-for-profit purposes. AltusWorks prepares all the necessary documentation to ensure that the property qualifies for the program, creates designs that follow the Secretary of the Interior’s Standards for Rehabilitation, and completes the final paperwork for state and local officials. AltusWorks advises the owner on a preservation approach for the structure that is the most economically feasible while meeting the requirements of the program.

Historic American Building Survey (HABS) Documentation The Historic American Building Survey (HABS) is the nation’s first federal preservation program, begun in 1933 to document America’s architectural heritage. The documentation includes a site plan, floor plans, interior sections, and decorative detail drawings. When drawings no longer exist for a property, HABS documentation can be useful for rehabilitation and repair projects. AltusWorks can prepare the documentation as well as submit the drawings in the Library of Congress’ HABS collection for archiving.