2003-03-12 CC Packet - Laserfiche WebLink

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.__.....__....___...__......-_.;OMO......~..._. .'_. .. _ . _.. ....... "'_.' ..... . _ .' _" ..... . .... ..._. _. .... . . .--..,..-......_-~_.- ... . BUSINESS STABILIZATION AND JOB GROWTH . HiStoric areas attract and retain small businesses. Small businesses account for more than 85% of all the new jobs created. They have the fastest growth rate. especially those that Emlploy 20 or fewer people. Historic buildinas are an ideal location for small businesses because they orovide the minimal averaae soace reauired and low occuoancv costs. · f:>>resen,ing historic build.ngs creates jobs. . For every $1 million spent on a rehabilitation project. 33.5 jobs are created. Historic rehabil~on c;:reates 5 to 9 more construction jobs and 4.7 additional jobs elsewhere in the 'community than a new construction project. fISCAL RESPONSIBILITY · Reusing and rehabilitating historic buildings is fiscally responsible. It is fiscally conservative to reuse and recycle existing infrastructure. incluclng buildings. The costs to raze and replace an historic building are usually greater than the cost to rehabilitate. In addition. the transportation and disposal costs for razed building materials are rapidly rising. Municipalities can work with property owners to make rehabilitation efficient and coSt effective through tax incentives and understandable revie~ criteria. ',) . . ~~ 1-:~~;"'~' : '. 1\ ,) .... .....: ~ :.t..i.l_: . ,.. ::.'. ?i~" ;. . Tnfonrulfion provided by the Anoka County Historical Soci~ from Donovan Rypkema's The Economics of Histo1iC Preservation, ~ Spencer's "An.Analysis of1:he Economic.Jmpaqt ofPh.ysical ~ on Retail S'ales," and."Benefits of Tax Credit for Historic Preservation Far Outweigh the Costs, " by the Preservation' - Alliance ofl\AinnP.SOta; For:Q1Ore information, piease can Bonnie McDonald at (763) 421..()600; pee. 10.-2002. '. :. .. ';