Cultural Conservation Program Features two new Funds for Preservation
February 22, 2008 — 4Culture's Board recently approved the establishment of a new Cultural Conservation Program, to be targeted at threatened historic places and heritage collections throughout King County. To get the program started, the Board authorized $150,000 specifically for historic preservation activities in 2008.
Under the Cultural Conservation Program, Preservation 4Culture will establish an Endangered Resources Fund - a "bricks and mortar" grant program that directly supports the stabilization, rehabilitation, and restoration of threatened historic places throughout greater King County. Unlike the existing Landmark Rehabilitation Program, which has rather limited eligibility, the Endangered Resources Fund will be open to properties landmarked within the city of Seattle and within other communities that have their own preservation programs, or don't currently participate in King County's interlocal preservation network.
Guidelines for the Endangered Resources program are currently under development. Application materials are expected to be posted on the 4Culture website in early May. The deadline for application will likely be mid-summer, with awards to be announced in the fall. For more information, contact Flo Lentz at 206-296-8682
Under the Cultural Conservation umbrella, Preservation 4Culture will also establish a Real Estate Opportunity Fund. This new "action fund" will give 4Culture the means to step in quickly to help with critical situations involving imminent threats to significant historic property.The Real Estate Opportunity Fund will take advantage of 4Culture's structure as a public development authority to facilitate actual real estate transactions For example, the fund may support upfront structural investigations or feasibility studies, may pay for marketing research or the drafting of preservation easements, or may provide earnest money or serve as the seed to leverage other critical funding.
The program will also allow 4Culture to assemble expertise around specific issues, and to partner with other development agencies such as Historic Seattle to save threatened historic places. The Real Estate Opportunity Fund is not a grant program, but it will complement other 4Culture funding programs that support preservation.
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