Historic Districts: 15 Frequently Asked Questions, Part 2

Q. My home is in a proposed Historic District. What will its establishment do to my property values?

A. We don’t know for every individual case. But the evidence from other Historic Districts around the country indicates that property values are generally found to stabilize or increase.

Mill Rehabilitation Bill; A brief introduction.

The past few years have brought about many changes to the Thomasville community. Many of the furniture plants that were full of workers are now idle or partially used as indoor flea markets. Last year the North Carolina General Assembly passed House Bill 474 known to some simply as the “Mill Rehabilitation Bill.” This bill helps revitalization efforts in communities with vacant or partially vacant industrial sites. Eligible sites may apply for tax credits on qualified rehabilitation expenditures in amounts of up to 40 percent on the expenditure.

In case studies by Preserve North Carolina the per-square-foot cost of rehabilitation is far less than new construction. Their studies also mention that while cost of materials is higher in new construction, while rehabilitation cost are often have higher labor cost. Money spent on labor is often reinvested in the community when workers spend money at local stores and restaurants.

Along with the Mill Rehabilitation Bill, many of downtown Thomasville’s buildings may receive similar tax credits because of their inclusion in the National Register Historic District. Income-producing historic properties may qualify for a 20% state tax credit and 20% federal investment tax credit.

With these tax credits business owners and the City of Thomasville has greater opportunity to engage in revitalization efforts in the downtown area. The rehabilitation potential of idled industrial buildings can also preserve our identity and cultural heritage as a community with deep roots in furniture manufacturing.

Owners that wish to file applications are encouraged to contact the Thomasville Historic Preservation Commission for assistance.

Highlights From the Feburary Meeting

The memorial plaque for the American Legion Hut was on display for Commission members to view. Built in the Kinneywood development the American Legion Hut was a popular gathering spot for local dances, picnics, social events and community activities for many years. Arrangements are being made for a dedication ceremony following installation of the plaque near the site of the hut.

There was a brief discussion on remarks made during the Thomasville City Council annual retreat. It had been reported in three local newspapers of an idea to tear down vacant industrial buildings and replace with newer construction. The commission has responded with letters to the Mayor and City Council on the availability of tax credits for rehabilitation projects.

Historic Districts: 15 Frequently Asked Questions, Part 1

Q. Are there benefits of owning property in a designated Historic District?

A. Yes. Designation is an honor. indicating the community believes the district deserves recognition and protection. Local historic district designation has no effect on local property taxes for property owners within the designated district; however, historic zoning can help stabilize property values by maintaining the neighborhood's character, and it benefits property owners by protecting them from inappropriate changes made by other owners that might destroy the special qualities of the neighborhood.

Donations for historic Pepsi Sign restoration requested.

Artist Rendering of Restored sign by Lou Ann Peters

The Thomasville Historic Preservation Commission is looking to restore the Historic Pepsi Cola sign painted on the building located at the northwest corner of Salem Street and J.W. Thomas Way. Photos dated from the late 1920’s show the sign in its humble beginnings. The painted sign that once covered most of the southern wall of the building has faded over the years, but a ghostly outline of the early advertisement is still visible. Communities across the nation view the restoration of these remaining signs from vividly memorable advertising campaigns as a positive contribution to the preservation of local heritage. In the case of Pepsi Cola, there is the added significance of preserving the history of a company that was founded in North Carolina--in New Bern in the late 1890s.

Other buildings in Thomasville still show evidence of painted advertisements. Most of them have faded to the point that they are no longer recognizable. Across the street from the Pepsi Cola sign an old hardware store sign reads “Distributors Of” and the rest has weathered away completely. A few local buildings sporting these painted advertisements have been torn down over the years—a tragic loss of both our valuable historic assets and the reminder of distinctive vintage advertising.

Since the listing last year of Thomasville’s Business District in the National Register of Historic Places a few building owners have expressed interest in taking advantage of the Historic Rehabilitation Tax Credits available the state and federal levels. The restoration of the Pepsi Cola sign will contribute to on-going efforts to attract more people to the downtown area. If you wish to be a part of this Pepsi Cola sign restoration project, a new facet of the local historic preservation program, contributions may be made to the Thomasville Historic Preservation Commission, PO Box 368, Thomasville, North Carolina 27361.