Austin Looks to Boost Use of Historic Preservation Fund
Austin is taking steps to increase the use of its Historic Preservation Acquisition Fund, which was created in 2019 to help purchase historically significant properties. This fund is primarily financed through revenue from the city’s hotel occupancy tax.
As it stands, the fund has only been utilized once since its inception. The sole acquisition was the historic Montopolis Negro School, located at 500 Montopolis Drive. Lindsey Derrington, the executive director of Preservation Austin, has voiced support for increasing the fund’s use. She notes that there is a pressing need to establish clear guidelines for how the fund can be spent.
Goals and New Directives
On September 26, the city council passed a resolution aimed at creating a more substantial framework for the fund’s operation. The resolution sets a goal for the city manager to develop processes for both identifying and acquiring historically significant sites. Furthermore, it instructs the city manager to collaborate with Rally Austin—previously known as the Austin Economic Development Corp.—to streamline this process.
The fund currently has approximately $32.7 million available for the upcoming fiscal year starting October 1. Derrington questioned the city, saying, “We’ve got this money, how do we spend it?” She emphasizes the importance of having a clear set of criteria that reflects the values of the community, especially when it comes to spending large sums on projects that offer historical and cultural significance.
Beyond Acquisition: Maintaining Historic Sites
In addition to purchasing properties, the resolution also focuses on developing a sustainable model to operate and maintain these sites. Programs designed for both tourists and local community members are among the proposed initiatives. These steps aim to ensure that historic sites remain valuable resources for everyone in the area.
As for the Montopolis Negro School, which was purchased using the fund, plans for its future are still in early stages. Steps have been taken to protect the building, including installation of fencing and evaluations for pests, asbestos, and lead. More detailed plans are yet to be released, but efforts to monitor the site are ongoing.
Exploring Financial Tools
To further aid in the acquisition and maintenance of historic properties, Preservation Austin has suggested that Rally Austin consider utilizing historic tax credits. These credits are a financial tool that can be beneficial for nonprofit organizations, although they cannot be used by state governments or city agencies. Implementing such financial strategies may enhance the city’s ability to preserve and promote its history.
Whispers of Community Support
The community’s response to the use of the fund has been largely positive, with many residents expressing enthusiasm for the city’s commitment to preserving its historical character. As Austin continues to grow, the importance of the city’s history and heritage becomes even clearer. Investing in these properties not only honors the past but also enriches the cultural fabric of the present.
With clear steps on the horizon, Austin is poised to make the most of its Historic Preservation Acquisition Fund. It’s a move that many hope will lead to the safeguarding of the city’s historical treasures for future generations to appreciate.
