“This designation is the result of a great public private partnership between city officials, Restore Old Town Greenwood and state agencies,” said Mayor Mark W. Myers. “Together we have created an environment that will foster a spirit of preservation and restoration in this important historic neighborhood.”
The designation will allow the homeowners to qualify for tax credits to pay for renovations and restorations of their homes. It does not limit homeowners’ ability to make changes to their properties or restrict how a particular property is used or sold.
Greenwood Planning Director Bill Peeples said he believes the designation could help spur investment in the area. “A historic residential district appeals to residents who appreciate a sense of place and tradition. The hope is that this designation will serve as a catalyst to encourage more people to move into and invest in improving the neighborhood.”