Mark McDonald Visits Danville
Georgia Trust for Historic Preservation President, Mark McDonald, visited Danville earlier in the week to discuss new initiatives in historic preservation, including a revolving loan fund. Sponsored by a grant awarded by the National Trust for Historic Preservation, McDonald visited the Bluegrass state to evaluate the market in Danville-Boyle County and provide recommendations for a revolving fund program to help address blighted historic properties.
Last fall the Heart of Danville (HOD), Main Street Perryville (MSP), the City of Danville and Boyle Landmark Trust (BLT) hosted a preservation mini-conference where President and CEO of the Historic Savannah Foundation, Daniel Carey, presented on funding preservation work. One of the highlights of Carey’s presentation was the discussion of a revolving fund program.
Originated in the 1950s by the Historic Charleston Foundation in Charleston, South Carolina, revolving funds have been extremely popular in cities like Savannah, Georgia, Boston, Massachusetts, and Galveston, Texas. A revolving fund is used to purchase, stabilize and/or rehabilitate, and then resell historic properties to preservation-minded buyers. The fund is defined as revolving because the monies earned from the sale of the historic property go back into the fund to be used for future acquisitions and rehabilitations.
Upon McDonald's return to Atlanta he will write a report about his thoughts on the area and provide recommendation on moving forward with a revolving fund program.
“If the revolving fund is an initiative we decide to move forward on as a community, it will be a demanding and long-term endeavor. But Mark’s consulting visit also showed that it presents an opportunity for us to collaborate and work collectively across many interests and groups to spark positive community development and pride in our resources and local character,” said Heart of Danville Executive Director, Bethany Rogers.
More about Mark McDonald
Mark C. McDonald has served as President and CEO of The Georgia Trust since June 2008. Since that time, The Georgia Trust has dramatically improved its budget performance and extended its programs and revolving fund activities. Mr. McDonald has over 25 years of professional involvement in historic preservation and a strong business background. He has served as the executive director for three preservation organizations in the Southeast, including the Historic Salisbury Foundation in North Carolina from 1986-1990, the Mobile Historic Development Commission in Mobile, Alabama from 1990-1998 and the Historic Savannah Foundation from 1998-2008.