The City’s Preservation Revolving Fund was established by the City Council in response to recommendations of the Historic Preservation Element of the 1989 Comprehensive Plan. It was capitalized at a rate of $50,000 per year from FY 92/93 through FY 96/97 for a fund asset total of $250,000.  An additional $25,000 was received from the Housing and Neighborhoods Department in the early 2020s.

The Fund is designed to work as a revolving fund. Monies are lent to assist in providing bridge financing for historic preservation projects; loan repayment reimburses the fund and makes those dollars available for future projects. Interested parties apply through the RHDC to City Council for funding. All requests to be considered on a case-by-case basis. The Fund acts as a reserve, and is available to respond to opportunities and threats to Raleigh historic properties when they arise. It provides a more predictable and responsible way for the city to anticipate and respond to historic preservation needs.

Past Projects:

• Roger-Bagley-Daniels-Pegues House ($75,000)
• Gethsemane Seventh Day Adventist Church, 501 S. Person Street ($91,000)
• Crabtree Jones House, 3017 Wake Forest Road ($100,000)
• Plummer T. Hall House, 814 Oberlin Road ($58,594)
• Lustron House ($100,000)
• Plummer T Hall and Graves-Fields Houses ($175,000)