katie allison granju

something good from something bad December 31, 2004

AN IMPORTANT ANNOUNCEMENT FROM KNOX HERITAGE

Knoxville is the home of wonderful historic buildings and

neighborhoods, but many historic properties are rapidly disappearing.

As they vanish, we’re losing an important part of our heritage and the

economic benefits these properties could bring.

Knox Heritage has worked for 30 years to save dozens of threatened

historic homes and buildings in Knox County that might otherwise have

been destroyed. However, we need a new and more powerful tool in order

to truly be effective and protect the most fragile and valuable

legacies of our community’s rich history. It will be the single most

important program Knox Heritage has ever implemented.

Knox Heritage’s J. Allen Smith Endangered Properties Fund will provide

effective alternatives to demolition or neglect of

architecturally and historically significant properties by promoting

their rehabilitation and enabling endangered historic properties to

connect with buyers who will rehabilitate them. Contributions from

across the community have already been received, and we are asking

anyone interested in protecting Knoxville’s important historic places

to contribute whatever they can as a sign of support for

preservation in our community. Whether it be $1 or $100,000, every

contribution* will make a difference for the future of our past.

The fund will allow Knox Heritage to accept property donations,

purchase endangered historic properties or purchase options on those

properties. The properties will then be marketed to locate buyers who

agree to preserve and maintain the structures. Protective covenants

will be attached to the deeds to ensure the historic integrity of each

property is retained, and purchasers will be required to sign

rehabilitation agreements based on the work to be performed on the

structure.

This has been an effective tool in many other communities. For example,

in the 1990s, Historic Savannah Foundation, with an initial

investment of $170,000 in eight dilapidated structures, generated the

redevelopment of more than $3 million worth of property in the Beach

Institute neighborhood. This neighborhood, which is a mixed income,

multi-cultural area on the eastern edge of the Landmark District, has

now seen the rehabilitation of approximately 60 buildings and is an

attractive place to live once again. Through its award-winning

endangered properties program, Preservation North Carolina has saved

more than 450 endangered historic properties, generating an estimated

$100,000,000 in private investment.

The same things can happen in Knoxville with this exciting new

preservation tool.

# # #

Knox Heritage is a nonprofit organization dedicated to the preservation

of architecturally and/or historically significant

buildings, open spaces and parks in Knoxville and Knox County,

Tennessee.

Learn more at www.knoxheritage.org.

*All contributions are tax deductible as allowed by law.

For more information:

Kim Trent, Executive Director, (865) 523-8008 or

kimtrent@knoxheritage.org

Kristina Shands, Program Director, (865) 523-8008 or

kristina@knoxheritage.org