microeconomic

[Name of Writer]

[Name of Professor]

[Course Title]

[Date]

Microeconomics

Assumption

This report describes what this kind of capital produces , and what would determine the optimal level of preservation effort

The Key Element Of This Model

The purpose of the present study is to shed light on the effects of designation on property values in residential neighborhoods

Analysis

Not infrequently , planners , preservationists , and community officials are accused of catalyzing the displacement of low- and moderate-income renters and homeowners and of small businesses when they support the

br historic designation of older neighborhoods

Planning and Policy Implications

The designation of historic districts in residential neighborhoods has grown in popularity in the United States over the past two decades . Many planners have embraced designation policies as tools in the management of neighborhood preservation and rentalization . However , opposition has arisen in some cases based on the assertion that official designation could accelerate property values , thus increasing tax liabilities and rents and leading to rising displacement of low-income and elderly households . Existing research provides only a few insights into this issue . An analysis of residential historic district designation in Washington , DC , finds little support for the displacement threat Further research is necessary on the timing of designation and the intervening effects of the federal historic preservation tax credit

Ever since pioneering legislation was passed in Charleston , South Carolina , in 1931 and New Orleans , Louisiana , in 1937 the historic district technique has been employed as a device to protect neighborhoods and areas of historic and architectural importance . While only a handful of communities adopted historic district ordinances in the 1940s and 1950s (Reed 394 , today there are more than 1 ,200 historic districts scattered across the United States . Furthermore , encouraging historic districts has become a matter of national policy . The National Historic Preservation Act of 1966 empowered the National Park Service to create the National Register of Historic Places , a listing of landmarks and historic districts considered to be of significance beyond merely local or regional levels (Public Law 89-665

Of course , historic district statutes vary from community to community and state to state in the stringency of their provisions . But typically they establish official boundaries around a historic area and provide for the creation of a commission to rule on individual applications to demolish or alter a property or to build a new structure in the area The commission is usually made up of from three to ten volunteers selected by the local government for their expertise or experience in matters related to preservation . An appeals process is provided for affected property owners who disagree with a commission decision (Reed 394

The proliferation of historic districts nationwide in the past 20 years testifies to their popularity among preservationists . Historic districts vary , however , in their effectiveness at protecting historic buildings and spaces , depending on the strength of their legislation and the level of political support for their ideals . Many property owners and businesspersons resist passage of such ordinances , fearing that they will be unduly restricted in...