The Georgia Trust

FACT SHEETS: THE GEORGIA TRUST

The Georgia Trust established the Revolving Fund in 1990 to provide effective alternatives to demolition or neglect of architecturally and historically significant properties by promoting their rehabilitation and monitoring their preservation in perpetuity.

How it works

The Revolving Fund accomplishes this goal by either accepting property donations or by acquiring options on endangered historic properties. The properties are then marketed nationally to locate buyers who agree to preserve and maintain the structures. Protective covenants are attached to the deeds to ensure that the historic integrity of each property is retained. Purchasers are required to sign rehabilitation agreements based on the work to be performed on the structure.

The Georgia Trust’s Revolving Fund Committee selects properties for the program based on the following criteria:

  • Endangered: the property is threatened by development, demolition or vacancy
  • Significant: the property is either listed or is eligible for listing in the National Register of Historic Places
  • Obtainable: the property’s current owner is willing to sell or donate the property to the Revolving Fund
  • Marketable: the Trust believes a sympathetic buyer can be realistically located for the property, considering building type, condition, location and price
  • Locally supported: the project has the support of local government and/or community groups willing to help market and safeguard the property

While the Fund is not designed to be income-producing, any advertising or stabilization costs (up to an agreed-upon amount) are reimbursed by the seller at the time of sale. Any proceeds from the sale are returned to the fund, thereby “revolving” the use of the initial capital.

Contact: 404-885-7817 or preservation@georgiatrust.org

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