The City of Temple is committed to establishing long-term economic vitality in Strategic Investment Zone corridors, encouraging redevelopment and diversification. Through the implementation of this incentive grant program, property owners who meet certain eligibility criteria may facilitate new public and private sector investments.
Temple currently has one locally designated residential historic district, known officially as the North Central Temple Historic District, which has an active preservation board called the Historic Preservation League of Temple (HPLT). Modifications to buildings within the District are subject to Chapter 17 of the Code of Ordinances to ensure the historic appropriateness of the changes. Most of downtown Temple is located within a National Register Historic District designated in 2005 and called the Temple Commercial Historic District, which also qualifies Contributing buildings for Federal (20%) and State (25%) historic tax credits.
Historic Tax Credits
The Texas Historic Preservation Tax Credit Program was established through Texas House Bill 500 during the 83rd Texas Legislative Session and went into effect on January 1, 2015. The new state historic tax credit is worth 25 percent of eligible rehabilitation costs and is available for buildings listed in the National Register of Historic Places, as well as Recorded Texas Historic Landmarks and Texas State Antiquities Landmarks. The program is administered jointly by the Texas Historical Commission (THC) in cooperation with the Texas Comptroller of Public Accounts.
Main Street Program
The overarching goal of the Main Street Program is to establish and maintain a downtown community partnership through which all downtown stake holders will collaborate together.
Opportunity Zones are tax incentives to encourage those with capital gains to invest in low-income and undercapitalized communities.
TX PACE Program
Texas Property Assessed Clean Energy (TX-PACE) enables commercial property owners to obtain affordable, long-term financing covering up to 100 percent of the cost for energy efficiency, water conservation, and on-site generation technologies. TX-PACE secures private financing for a term as long as the projected useful life of the improvements, resulting in utility cost savings that exceed the amount of the repayment. Owners can modernize commercial properties without fear of over-investment, transferring the TX-PACE repayment obligation to new ownership if the property is sold.