Tomorrow, the Preservation Trust will be holding a seminar on preservation easements. This most important tool for preservation explores the theory, the process and the details of implementation. It will be held at the Newburyport Public Library in the Programming Room. Starting at 10:30 A.M.
Be sure to get there early for a good seat.
When I was a teenager, my family lived in a beautiful old farmhouse in Enfield, Connecticut. Years later, I returned to the street and was dismayed that a motorcycle gang had taken up residence and the house was thoroughly trashed. How many other readers have had the same experience, after bringing a house to peak appearance only to find a future occupant destroying all the hard work that had been done?
So many, townies and newcomers have worked since the dire 60’s to bring many of the historical homes in Newburyport literally back to life – renovating and restoring. Since banks wouldn’t touch some of the neighborhoods, many had to use Yankee ingenuity and a lot of time to bring the building back to their original glory.
How would you feel after all that sacrifice of time and money – only to see a New Gentrification occupant who seeks only to rip out all your hard work?
That is why it is so important after all that work to obtain a preservation easement. So many financial advisors who are only thinking of the money may advice against it – but that’s only looking at the short term benefit of a single occupant. What about establishing a future legacy that is preserved over many generations? That can’t be measured by mere dollars.
Unfortunately, due to the abuses of many who only seek for the tax advantages; the state and the Feds have made it much more difficult to obtain a property restriction that lasts beyond 30 years. This is solved by having an ‘enforcer’; a third party that ensures that the breaks given out by the government are truly compensating for the hardship of historic preservation.
I have included a previous post that talks about the challenges faced by doing a preservation easement. It is fascinating getting different first-hand perspectives from those involved in historic preservation.
Preservation easements are truly the gold standard of historic preservation. Knowing that not only are there tax-advantages but being re-assured that an historical house that reflects on our Nation’s heritage has been preserved. Though we have a high-percentage here in New England; they are rapidly disappearing across the Nation.
Preserving one of the only 8.3% left in America will ensure future generations will be able to appreciate the architecture and history surrounding your house.