CPA’s Endangered Building Fund can be used to save endangered buildings by providing short term loans to owners of historic buildings and to support direct action through CPA acquisition of endangered sites

 

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What is the Cincinnati Preservation Endangered Building Fund?

The Cincinnati Preservation Endangered Building Fund  is a historic properties redevelopment program, commonly known as a revolving fund. It is an active real estate based program for protecting endangered properties using techniques such as: options, purchase/resale, easements and tax credits. 

The primary focus of the Cincinnati Preservation Endangered Building Fund is to offer loans to end users that are supported and enhanced by escrow deposits we make to the Cincinnati Development Fund (CDF), a nonprofit lending institution that fills a gap not covered by traditional lenders. 

The Cincinnati Preservation Endangered Building Fund has received several grants from the 1772 Foundation located in Providence, Rhode Island.  That support has been transformational for CPA. While we continue to do work in education and advocacy, we are now providing direct support for preservation projects and even taking ownership of endangered sites when necessary. 

If you have a project that be a candidate for the Cincinnati Preservation Endangered Building Fund, please contact us at beth.johnson@cincinnatipreservation.org.

Revolving Fund Projects

1725 Elm Street – CPA’s first project provided support to stabilize the endangered rear portion of 1725 Elm Street in Over-the-Rhine. The stabilization has been completed and the entire building is being renovated into apartments overlooking Findley Market.

The project has been awarded federal and Ohio historic tax credits and has moved into the next phase of rehabilitation. The Italianate building was vacant and the rear portion was slated for demolition. CPA helped fund the stabilization work in partnership with CDF. The stabilization funds helped this important building in the historic Findlay Market area retain the rear section and move forward with a complete rehabilitation project.  

The funding we provided has now been returned and is available to support other preservation related loans.

The Dennison House – The second CPA Endangered Building Fund project is the purchase of 225 Wood Street in Batavia, Ohio. This highly significant 1833 Greek Revival house is vacant and has been declared a public nuisance. The Batavia Village Council reluctantly ordered demolition. After months of negotiations and title work, CPA completed the purchase of the property in March 2021. We have preformed maintenance since October and completed minor repairs. The house will has historic conservation easement attached to the title and was sold to a preservation minded buyer.

Eckstein School- Through the use of the Endangered Building Fund, the Eckstein school in the Village of Glendale, Ohio was saved from inappropriate redevelopment and demolition. CPA bought the property and is currently working with the Eckstein Cultural Arts Center on a redevelopment plan. 

 

Related Projects –The Cincinnati Preservation Endangered Building Fund has expanded our ability to save historic property in many ways. In addition to the work within our revolving fund we are also assisting with efforts to save the iconic bell tower of an 1895 church on Washington Park. Our intervention has supported their Bell Tower stabilization project. Cincinnati Preservation Association’s board authorized a $50,000 grant and  a local foundation is considering a $50,000 grant. 

While our funding of the bell tower project is separate from the Endangered Building Fund capital, the decision to take such direct action was in part shaped by our new, more action oriented approach the Endangered Building Fund has engendered.


Program Supporters

Thanks to program supporters:  1772 Foundation  & Cincinnati Development Fund

The Cincinnati Preservation Revolving Fund has received several grants from the 1772 Foundation located in Providence, Rhode Island. The foundation works throughout the nation to assist preservation organizations in saving historic properties. They encourage use of a range of methods from loans to support redevelopment of historic properties to direct investment by purchasing endangered buildings. 

Thanks to  Cincinnati Development Fund  for their support of the stabilization of historic structures in our local community.