MALONE — The commercial core of the Malone village has a chance to be listed on the State Register of Historic Places, after a meeting Thursday.
Aside from the honorary status of being listed, the historic designation will open up federal and state tax credit opportunities in this portion of the village.
According to an email from Daniel Bagrow, a historic preservation program analyst, with the Division for Historic Preservation, of New York State Parks, Recreation & Historic Preservation, the commercial core of the village will be considered for a historic designation by the New York State Board of Historic Preservation.
“Owners of properties within the district would be able to take advantage of the Federal Investment Tax Credit Program for income producing properties,” Bagrow said in his email, “Owners of income producing real properties listed on the National Register of Historic Places may be eligible for a 20% Federal Income Tax Credit for the substantial rehabilitation of historic properties.
The state review board will consider the nomination at its quarterly meeting, according to Bagrow, where prospective nominations will be presented to a panel of individuals representing various state agencies and interests relevant to historic preservation in New York, Bagrow said in an email response to a request for comment.
According to Bagrow, if the board votes in favor of Malone’s nomination, Deputy Commissioner for Historic Preservation Daniel Mackay will formally list the downtown historic district on the State Register of Historic Places.
The nomination will then be forwarded to the National Park Service for their review and potential listing on the National Register of Historic Places.
The Malone Revitalization Foundation and Malone Chamber of Commerce have been working together to get a historic designation for this portion of the village, according to Mary Scharf, president of the Malone Revitalization Foundation.
According to Preservation Services Director Christine Bush, of Adirondack Architectural Heritage in Keeseville, a non-profit that supports preservation efforts in the Adirondacks and the North Country, the Malone Revitalization Foundation and the Malone Chamber of Commerce received a grant from Preserve New York to prepare a historical study to be used in the nomination process, a process which Bush’s organization assisted.
“It has been going on for a few years. You have to go through a process in order to get listed and a lot of research too,” Bush said.
According to Scharf, the designation wouldn’t limit what property owners could do in this area of the village but would open a number of tax credit opportunities for preservation work on historic properties that can help building owners with repairs.
Scharf said there are over 300 buildings in Malone that qualify as historic, in addition to the Wilder Homestead on Stacy Road.
“Malone is a very historic place. I think it is worth it for us to get listed. It opens up a lot of investment opportunities,” Scharf said, “If we do this and invest in signage it could add up to 20% to tourism.”
Scharf said the original plan was to apply for a larger area of Malone to be listed but when the state came reviewed the application, it was deemed to be too large and focus shifted on getting the commercial area listed first.