Theses (Historic Preservation)

Author(s)

Laura DiPasquale

Document Type

Thesis or dissertation

Date of this Version

2012

Comments

Suggested Citation:

DiPasquale, Laura (2012). Looking Up, Downtown: A National Survey and Assessment of Residential Development Incentives for the Rehabilitation of Vacant Upstairs Space in Historic Downtowns. (Masters Thesis). University of Pennsylvania, Philadelphia, PA.

Abstract

In order to facilitate redevelopment and foster economic growth in their downtowns, many local governments across the United States offer financial incentives to assist developers and business owners in rehabilitating their older or historic structures. While many economic development tools focus on the establishment and growth of businesses in historic downtowns, there is a general understanding that in order for a neighborhood or downtown commercial district to thrive, it must also have a solid residential population. This thesis focuses specifically on redevelopment incentives aimed at creating or enhancing upper floor residential space. Through short case studies, it evaluates different types of incentives, including Tax Increment Financing (TIF), tax abatement, revolving funds, and other grant programs. It then delves into the Upstairs Fund program initiated in Wilmington, Delaware, before comparing Wilmington's program to others around the country. It concludes with a discussion of the importance of dedicated local governments, committed developers, and the utilization of public-private partnerships in successful redevelopment projects and incentive programs.

Keywords

incentives, urban revitalization, residential redevelopment, vacant buildings, public private partnerships

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Date Posted: 25 February 2014