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Heritage Grants program
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| The Illinois Historic Preservation Agency administers the Illinois Heritage Grants program that provides state funding for brick-and-mortar preservation projects. The Agency's current budget includes $250,000 for individual grants up to $25,000 for properties listed on the National Register of Historic Places or designated as landmarks under county or municipal preservation ordinances. |
| See URL (below) for eligibility requirements |
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Historic Preservation Property Tax Assessment Freeze
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| Rehabilitating your older home is rewarding in many ways, and with the Property Tax Assessment Freeze homeowners may be eligible for financial incentives that make the work even more attractive. The Property Tax Assessment Freeze Program provides tax incentives to owner-occupants of certified historic residences who rehabilitate their homes. Through the Property Tax Assessment Freeze Program, the assessed valuation of the historic property is frozen for eight years at its level the year rehabilitation began. The valuation then is brought back to market level over a period of four years. |
| See URL (below) for qualifications |
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Federal Historic Preservation Tax Credit Program
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| The Federal Historic Preservation Tax Credit Program provides federal income-tax incentives for the rehabilitation of historic income-producing properties. The Illinois Historic Preservation Agency, Preservation Services division, administers it for Illinois properties. Under the provisions of the Tax Reform Act of 1986, a 20% tax credit is available for the substantial rehabilitation of commercial, agricultural, industrial, or rental residential buildings that are certified as historic. The credit maybe subtracted directly from federal income taxes owed by the owner. (Note: The U.S. Internal Revenue Service is the final judge of economic matters relative... |
| See URL (below) for qualifications |
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Schaumburg: Historic Landmark Restoration Grant Program
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| Village program to provide assistance to landmark owners for exterior restoration work on historic landmark properties in Olde Schaumburg. |
| See URL (below) for details |
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The Certified Local Government Program
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| The Certified Local Government Program, which was established by the National Historic Preservation Act Amendments of 1980, gives municipalities and counties the opportunity to participate as partners in state and federal preservation activities. Municiplities and counties that have local historic preservation programs may participate after they have been 'certified.' |
| To become certified, a local government must have a historic preservation ordinance, establish a preservation review commission, have an active local survey program to identify historic resources, and provide for public participation. |
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LPCI- Endangered Buildings Grants
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| The Landmarks Preservation Council of Illinois Endangered Building Grants were established in 1984 to provide matching grants to not-for-profit organizations to assist in the preservation of historic buildings threatened with demolition or harmful neglect. |
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