What resources, including financial, may be available for individual property owners?
> Property owners of individual commercial landmarks and those within districts may be eligible, with State consent, to make use of the Federal Tax Credit program for a direct credit of federal taxes of up to 20% of improvement costs. > The Property Tax Assessment Freeze program, available primarily for owner-occupied residences, is a program for those structures achieving landmark designation individually or within a recognized district (with State consent). > The City will, on behalf of individual property owners, request basically unlimited free technical rehabilitation, architectural, design and concept assistance from staff members of the Illinois State Historic Preservation Agency. Staff members are well versed in the process of preserving and tastefully remodeling historic buildings. Their advice is non- binding but is certainly recommended. > The IRS may offer a 10% rehabilitation tax credit for buildings built prior to 1936 (regardless of historic standing). There may also be
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