Landmarks recently received a $75,000 challenge grant from the Robert J. Trulaske Jr. Family Foundation to start a revolving fund for low-interest loans for historic preservation projects. They need $25,000 in donations before the money becomes available. It's a small amount to start, but it's enough to do a pilot project and lay the groundwork for a bigger fund down the road. It's a chance for those of us without the big bucks to put some money where our mouths are and make a direct contribution to historic preservation.
If you are interested in donating, you can mail a check to Landmarks or donate at their website. Designate the funds for the Landmarks Revolving Loan Fund.
There is a blurb about it in their Winter newsletter (pdf here, page 7):
If you are interested in donating, you can mail a check to Landmarks or donate at their website. Designate the funds for the Landmarks Revolving Loan Fund.
There is a blurb about it in their Winter newsletter (pdf here, page 7):
IT IS WITH GREAT PLEASURE that I announce Landmarks Association has been awarded a challenge grant of $75,000 by the Robert J. Trulaske Jr. Family Foundation to create a revolving loan fund for the rehabilitation of historic buildings in St. Louis City! This money becomes available after Landmarks raises a $25,000 match (or more) resulting in a fund capitalized at a minimum of $100,000. This money will be used to provide low interest loans for important historic preservation projects. Loans will be evaluated by a panel of experts from Landmarks’ Board of Directors as well as consulting professionals and will be awarded to provide things like bridge funds for rehabilitation or to assist property owners in taking advantage of existing programs such as the City’s façade grants. While a traditional lender’s goal is to generate profits, the goal of our lending activities will be to preserve and enhance historic buildings.
While the size of the initial loan fund will limit the scale and type of projects it can support (this is a pilot project at this point), we will use the experience gained through its administration to assess how we can best operate such a fund to serve the community and catalyze rehabilitation. Initially, we anticipate working with modest neighborhood buildings, but our goal is to eventually grow the fund to a level where it could also be used for more ambitious projects such as stabilization in anticipation of future development or to move a complex rehabilitation of a major building into the realm of economic feasibility. While many states, cities and preservation organizations around the country have used revolving loan funds to support the preservation of significant architectural resources for years, Landmarks’ new program is a first for St. Louis and a happy step back into direct involvement in rehabilitation, something the organization has not done since the 1970s.
Please help us in our efforts to create a fund to support the rehabilitation of St. Louis’ historic buildings. Not only will your donation help to protect our architectural heritage, it will assist with the ongoing revitalization of our beautiful city. To make a pledge toward meeting (or exceeding) our goal of the needed $25,000 match, please send a check or donate through our website and designate the funds for the Landmarks Revolving Loan Fund . All money so designated will be used for this express purpose or returned in the event that the goal is not reached.
