Irvington Historical Society
Historic Districts
A major misconception about Historic Districts is that it will decrease the value of their property.
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In reality, property values tend to rise with local historic district designation, equaling if not outpacing similar, undesignated areas.
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Also, values in local historic districts often exceed the rate of value increase for the city as a whole, thereby offering a secure location for investment.
Irvington and surrounding neighborhood historic districts boundaries.
What is a historic district?
A geographically definable area- urban or rural, large or small, --possessing a significant concentration, linkage, or continuity of sites, buildings, structures, and/or objects united by past events or aesthetically by plan or physical development. from National Register of Historic Places.
Local Historic Districts
A Local Historic District is a structure, site, individual building or group of buildings that has been recognized for its historic importance and through the use of local zoning ordinances protects the historic district.
Certificate of Appropriateness
a permit to proceed with new construction or alteration to a property within a historic district after the proposed changes have been reviewed against applicable criteria by the IHPC.
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http://www.indy.gov/eGov/City/DMD/IHPC/Documents/COA%20Application.pdf
Neighborhood = Historic District
National Register for Historic Places
A neighborhood that has sufficient distinctiveness because of its history, its plan, or the quality of its buildings, the term district is usually applied to it in an attempt to distinguish it from other neighborhoods
Benefits of Local Historic Districts
The major benefit to local historic district designation is that property owners are assured that their investment in their property will be not be harmed by inappropriate alterations or construction on adjacent properties
Infill
Descriptive of buildings that have been designed and built to replace missing structures or otherwise fill gaps in the streetscape. Usually the design of infill architecture is compatible in such elements as height, proportion, and materials.
The National Register of Historic Places is the official list of the Nation's historic places worthy of preservation. Authorized by the National Historic Preservation Act of 1966, the National Park Service's National Register of Historic Places is part of a national program to coordinate and support public and private efforts to identify, evaluate, and protect America's historic and archaeological resources.


Indianapolis Historic Preservation Commission
Preserves the character and fabric of historically significant areas and structures for all present and future citizens of Marion County, Indiana. The IHPC accomplishes this task by protecting areas through local designation and through providing technical assistance on the restoration and rehabilitation of historic structures or areas.
http://www.indy.gov/eGov/City/DMD/IHPC/Pages/home.aspx


Easement
A partial interest in real property, through donation or purchase, recorded in the deed, protecting the identifying elements of the interior/exterior or space around the property deemed important to be preserved.
According to Donovan D. Rypkema, a noted developer of historic properties, uses historic preservation as an economic development tool. In his treatise, The Economics of Rehabilitation, published by the National Trust for Historic Preservation, Rypkema lists several economic arguments for investing in historic districts. Here are a few of his ideas:
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- Rehabilitation can extend the property's economic life - the period of time over which it can profitably generate income.
- An improved property could be eligible for more favorable financing including the variables of loan-to-value ratio, interest rate and loan term.
- Rehabilitation might be the most cost effective way to free up the value of the land that is currently under producing. Individual reinvestment often is the most effective spur to adjacent property reinvestment. This can have a positive effect on the cumulative value of the properties within the area.
- Vacancy tends to be significantly lower in well maintained buildings in good condition than in deteriorating structures.
From an article from National Park Services's CRM (Cultural Resources) Magazine by Donovan D. Rypkema titled "The (Economic) Value of National Register Listing"

check out the article, http://www.placeeconomics.com/pub/placeeconomicspub2002.pdf