Meridian Public Survey |
Meridian Architectural Trust is conducting a feasibility study to determine whether it could launch a preservation revolving fund.
Generally a revolving fund saves threatened properties that are significant landmarks and/or invests in older and historic neighborhoods where the market has not yet recognized their value. There are many types of revolving funds. Some lend money to property owners for building repairs. Others actually acquire properties and then sell them with covenants to new owners, sometimes having stabilized or rehabilitated them first. Loan payments and/or proceeds from the sale return to the fund to be used on a new property; hence it is a "revolving" fund. There are currently over 60 active preservation revolving funds in operation throughout the country.
Part of the feasibility study will be determining the model (s) that might be best for Meridian Architectural Trust. Your feedback will be used by the board to help determine how they should proceed. Thank you for your time in completing this survey.