Fix-It Program Tools

Our program utilizes a number of real estate based tools to help achieve positive preservation outcomes for properties. Please keep in mind, each property is considered on a case by case basis to help determine what tool is the best fit for the given situation.

If you are interested in utilizing any of these tools for your property please contact Anne Ketz at aketz@mnpreservation.org. If you are aware of a property that might benefit from our involvement, please fill out this form.

Investment Partnerships

In 2010, Minnesota passed a state historic rehabilitation tax credit to incentivize private investments in historic properties.  Property owners can maximize their investment dollars in rehabilitation projects by using both the state and federal historic tax credits.  To further maximize these benefits, developers can team up with the Preservation Alliance of Minnesota as a member in these projects.  PAM’s participation in the partnership ensures that more funds are used for preservation and there is a public benefit associated with each project.

Easements

A preservation easement is a legal agreement that ensures that a property will be protected. An easement gives PAM, as the easement holder, the responsibility of monitoring the property for the protection of the visual and structural integrity of a historic structure, even though that structure is owned by another person. The intent of the preservation easement is to prevent anyone from demolishing or severely altering the historic building without the permission of the easement holder.

The owner retains all the usual private property rights except for the right to destroy the property. Alterations, improvements, and additions to the structure are allowed, as long as they do not compromise its historic character. At PAM, we are eager to work with the owners of our easement properties, not only to help preserve the historic character of the buildings but also to make them comfortable and desirable places in which to live or work.

Easement Program Guidelines
Easement Fact Sheet
Easement Donation Application

Purchase Options

A purchase option is an agreement between the property owner and the Preservation Alliance of Minnesota. The agreement includes the amount of time that the option is valid for and the purchase price for the property. The time period generally lasts around a year, although it can be shorter or longer depending upon the agreement. This system is essentially an alternative to the traditional real estate market – meant to assist properties that are not currently being supported by the market.

Purchase Option Fact Sheet

Donation of Property

Sometimes it works out favorably for an owner to donate a historic property to a 501(c)(3) preservation organization. The owner can receive a tax deduction for their significant donation. If the property has appreciated substantially while under their ownership, the owner has the added benefit of reduced capital gains taxes. Such an arrangement could relieve the owner of a headache and provide community recognition.

Acquisition of Property

In certain cases, the Preservation Alliance of Minnesota will consider stepping into purchase a historic property. This is a rather rare occurrence, but if the circumstances allow for it, we will explore this option.