Benefits for Historic Buildings and Structures in Farmington - Historic Landmarks Register
- In recent years, Farmington City updated its ordinances to provide for increased development opportunities and flexibility over and above what is allowed in the underlying zone (under certain circumstances) for owners who agree to preserve and maintain their historic homes and/or resources.
- Technical Assistance and Preservation: The designation results in greater oversight by the city including receiving a required "certificate of appropriateness" from the FHCP for such things as repairs, alterations, relocations, or demolitions.
- Access to Grants: Public and private organizations provide various grant opportunities. (example: Davis County Main Street Façade Grant)
- Federal income tax incentives are available for easements and rehabilitation. Properties such as income-generating buildings may be eligible for Federal Historic Preservation Tax Incentives.
- Tourism and Education Benefits: Farmington’s Historic Downtown Walking Tour for example is great tourism and education opportunity and features many properties on the Landmark Register already.
- Heritage Tourism: traveling to experience the places, artifacts, and activities that authentically represent the stories and people of the past and present. It includes cultural, historic, and natural resources.
- Education in the Innovation of Local Architecture: Downtown Farmington is dynamic, with alterations to existing structures and construction of new buildings occurring over time.
- Market Benefits/Property Values: Properties designated with local historic districts appreciate at rates greater than the local market overall as well as faster than similar, non-designated neighborhoods. Findings on this point are consistent across the country. Moreover, recent analysis shows that historic districts are also less vulnerable to market volatility from interest rate fluctuations and economic downturns.
- Official Recognition: A historic designation means that your property or neighborhood is recognized by the city as a key component of the community’s architectural heritage.