GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

H	1 

HOUSE BILL 1596*

Short Title:  Historic Preservation Foundation Funds.  	(Public)
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Sponsors: Representatives Colton; N. Crawford, Easterling, B. Ethridge, Gibson, Greenwood, Hasty, Hege, Holt, Isenhower, Nesbitt, Payne, Perdue, Stamey, Stewart, and Warren.
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Referred to:  Appropriations.
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May 4, 1989

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO HELP EXPAND NORTH CAROLINA'S STATEWIDE REVOLVING FUND FOR HISTORIC PRESERVATION.
Whereas, 1989 marks the fiftieth anniversary of the founding of the Historic Preservation Foundation of North Carolina, Inc., which was initially established to spearhead the effort to reconstruct Tryon Palace in New Bern; and
Whereas, North Carolina has taken the head in the field of historic preservation through the establishment of the nation's first statewide revolving fund for historic preservation through the work of the Preservation Foundation, North Carolina's only statewide private, nonprofit preservation organization; and
Whereas, since its inception, just over 10 years ago, the Preservation Foundation's revolving fund, through the purchase of endangered historic properties and their resale under protective convenants, has helped save over 100 historic North Carolina properties, leveraging over $20 million of private investment in revitalization and enhancing the property tax values of their respective cities and counties; and
Whereas, historic preservation contributes greatly to the economy and quality of life of North Carolina through tourism, economic development, downtown revitalization, and neighborhood preservation; and
Whereas, the Preservation Foundation through its revolving fund has served as an ally and valuable assistant to several State agencies, including the State Historic Preservation Office, the Main Street Program, the State Property Office, and the North Carolina Arts Council, as well as to numerous local governments; and
Whereas, since 1977, several previous sessions of the North Carolina General Assembly have recognized the value of the statewide revolving fund for saving important historic buildings in North Carolina by appropriating to the Preservation Foundation grants-in-aid of up to $150,000 for capital for its revolving fund; and
Whereas, the Preservation Foundation has raised private funds far exceeding the total of grants-in-aid from the North Carolina General Assembly; and
Whereas, for its fiftieth anniversary, the Preservation Foundation seeks to raise $2 million in 1989 from private and public sources in order to enhance its ability to meet preservation challenges of the 1990s; Now, therefore,
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the Historic Preservation Foundation of North Carolina, Inc., $250,000 for the 1989-90 fiscal year and $250,000 for the 1990-91 fiscal year for the purpose of expanding North Carolina's statewide revolving fund, provided a like amount of non-State funds is raised by the Preservation Foundation to match this appropriation on a dollar-for-dollar basis.  Funds appropriated in this act shall be expended only in accordance with G.S. 121-11 and G.S. 143-31.2, and only in accordance with special criteria developed by the North Carolina Historical Commission for the operation of statewide revolving funds.
Sec. 2.  This act shall become effective on July 1, 1989.