Alma may pursue ‘Historic Places’ registration

story by Marla Cantrell
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At a meeting on Monday (June 7), two representatives from the Arkansas Historic Preservation Program, addressed a handful of Alma business owners concerning a plan that could secure the downtown area a spot on the National Register of Historic Places.

The AHPP has already toured Alma and initially identified 11 of the 20 businesses in the proposed downtown area as more than 50 years old, the age necessary to qualify for the classification. An assessment by a state contractor will follow to verify those findings, if the owners agree. The area also meets the requirement that 51% of the downtown area be designated historic.

If approved, Alma would join 40 other districts in Arkansas, including Van Buren and Fort Smith, holding the designation. The main draw for business owners is two tax credits, one state and one federal, which would be available if the plan is successful.

“In Arkansas, the (federal) tax credit has been greatly under-utilized,” said Tom Marr, the AAHP rehabilitation tax credit coordinator. “In the past year we’ve been able to get the state tax credit established, which has stirred a great deal of interest, because you can, in many cases, use them both at the same time.”

The state program allows business owners of historic properties to claim 25% of their rehabilitation expenses, up to $125,000. The federal program offers a 20% tax credit for rehabilitation of a historic building.

Some concern was raised concerning the amount that had to be spent to get the credit. The Arkansas perk does not kick in unless a business owner spends $25,000.

But there other advantages to becoming a part of the Registry. Holly Hope, the AHPP special projects historian, said a recent study shows property values rise, and residents typically develop an interest and pride in local history.

Van Buren has been on the Register for decades.

Maryl Koeth, executive director of the town’s advertising and promotions commission, said it spurred growth in that downtown area.

“That designation helped pave the way for grants and private sector federal tax credits that have helped continued the preservation of the buildings,” Koeth said. “Being on the National Register is a requirement for many of the grants and programs for federal and state.”

Business owners were also assured they would not have to seek approval from the agency to make changes on the buildings, would not have to agree to mandatory upkeep, or open their businesses for public tours. In fact, an owner can tear down a business, or remodel it so that it no longer meets the historic guidelines. But if that happens, the town’s listing could be at stake. And with only 11 of the 20 buildings qualifying, any changes would tip the mandatory 51% needed to qualify.

The next step is for Alma Mayor John Ballentine to contact business owners about the plan. If 51% agree, the documentation process will begin. Those findings will be presented to the state’s review board, and if approved, the application will go to the National Parks Service in Washington, D.C. for final approval.

Hope estimates it would take 18 months to complete the process.