BIDDEFORD — Biddeford’s Main Street downtown is now federally recognized as a historic district. The area, which lies roughly between Alfred Street and Elm Street, and includes limited portions of some side streets, was approved to be listed on the National Register on Dec. 24.
“I think it’s absolutely fabulous,” said City Manager John Bubier.
Listing on the National Register opens up the potential for developers of properties within the districts to be able to earn state and federal tax credits when renovating these buildings, as long as they follow certain guidelines.
Developers whose renovations are approved by the National Park Service, which administers the National Register, are eligible for federal tax credits for 20 percent of approved expenses and state tax credits of 25 percent.
Local architect Caleb Johnson said the state tax credits are received in the form of a rebate check divided over four years.
Johnson and his business partner Don Meginley of Delaware were largely responsible for the area between 29 and 316 Main Street being listed on the register as a historic district.
The partners funded the writing of an historic narrative of the area that is necessary for consideration for listing on the register.
Johnson said that he and his partner pursued the listing because of their plans to purchase Main Street properties and have tax credits available to help with the expense of building renovations.
“More money can go into these buildings than previously was possible,” said Johnson.
He and Meginley are already under contract to purchase a building at 265 Main St., the former Potter’s Furniture building. Johnson said the two men hope to purchase more buildings in the area.
Anyone in the district can apply for the credits, although they are not obligated to follow the National Park Services’ guidelines if they don’t want to use the credits.
“What Don and I have done is good for everyone,” said Johnson.
The Main Street district is the city’s second historic district. Almost exactly a year prior, on Dec. 30, 2008, the Mill District of both Biddeford and Saco was approved for listing on the National Register.
“When you look at the way the city has expanded its opportunity for new business and new development ”¦ this is a continuation of that effort,” said Bubier.
He said the city has been very involved and supportive of programs that allow “stated and federal tax credits to help developers to come in and preserve some of those gorgeous old buildings.”
Without the tax credits, said Bubier, many developers would not be able to afford or maintain the city’s historic buildings.
The tax credits provide “an opportunity for young entrepreneurial groups to come in and purchase” some of these buildings, he said.
Johnson said his vision for the city’s downtown is “to bring energy and commerce back to Main Street.”
Plans for the property at 265 Main St. that he is purchasing, while still under development, will probably include artist studios and non-profit arts organizations, and focus on the creative economy.
Johnson said he envisions a more progressive work force working in the downtown in these old buildings, which he said have “more character.”
“Beautiful buildings attract people not interested in working in strip malls,” added Johnson. “Tax credits make that possible.”
— Staff Writer Dina Mendros can be contacted at 282-1535, Ext. 324 or dmendros@journaltribune.com.
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