Historic Districts

Overview

In addition to the local historic district the Town of Wake Forest has

• Wake Forest Historic District (locally designated)
• Glen Royall Mill Village Historic District (National Register)
• Wake Forest Downtown Historic District (National Register)
• Wake Forest Historic District (National Register)

National Register Historic Districts

The National Register of Historic Places is the official list of the Nation=s cultural resources worthy of preservation.  Authorized under the National Historic Preservation Act of 1966, the National Register is part of a national program to coordinate and support public and private efforts to identify, evaluate, and protect our historic and archeological resources.  The National Register is administered by the National Park Service under the Secretary of the Interior.  

The Glen Royall Mill Village became Wake Forest ’s first historic district in the National Register of Historic Places, listed on August 27, 1999 .  Downtown Wake Forest Historic District was listed on February 20, 2002 .  The Wake Forest Historic District, which includes the entire local historic district, the adjacent area along College Street , the older section of the seminary campus, South Main Street , Durham Road, and the area between Durham Road and South Main Street , was listed on December 18, 2003 .  

What Is A Contributing Property?

A contributing property is one that contributes to the historic significance of the entire district and, therefore, qualifies for all benefits of being listed in the National Register.

What Is The Result of Listing in the National Register?

For a contributing property, listing in the National Register has the following results:

• Recognition that a property is of significance to the Nation, the State, or the community.
• Consideration in the planning for Federal or federally assisted projects.
• Eligibility for Federal tax benefits.
• Qualification for Federal assistance for historic preservation, when funds are available. 

Listing in the National Register, however, does not interfere with a private property owner's right to alter, manage, or dispose of property!   

What Are the Benefits of Being Listed?

The owners of contributing buildings may qualify for significant federal or state tax credits for the cost of approved rehabilitation.  (Note: These are tax credits B to be deducted directly from income taxes B not just tax deductions!)

Income-Producing Properties

If your contributing property is income-producing, that is, commercial property or rental housing, you may qualify for a federal income investment tax credit of 20% of the total rehabilitation costs plus a state tax credit of 20%, resulting in a reimbursement of 40% of the total costs of rehabilitation.  However, the rehabilitation must be approved in advance as meeting the Secretary of Interior=s Standards for Rehabilitation.  There are also requirements regarding the cost of the rehabilitation. 

Non-Income-Producing Properties

If your contributing property is non-income-producing, that is, it=s your home or it=s not rented or used for commercial purposes, you may qualify for a state tax credit of 30% of the total rehabilitation costs.  However, the rehabilitation expenses must exceed $25,000 within a 24-month period and must be approved by the State Historic Preservation Office as meeting the Secretary of Interior=s Standards for Rehabilitation prior to beginning the work!   The credits cannot be claimed against acquisition, new additions, site work, or personal property. Only costs incurred in work on a historic structure will qualify.