Hartford Business Journal

HARTFORDBUSINESS.COM | JANUARY 22, 2024 19 FOCUS: LEGISLATIVE PREVIEW Spectra Pearl is a $50.6 million downtown Hartford redevelopment project that used $3 million in historic tax credits to convert two derelict commercial properties, at 101 and 111 Pearl St., into 258 studio, one- and two-bedroom apartments. what arbitrary in how they preserve historic buildings. I just think there needs to be a little more transparency and a little more respect for local communities' needs." Randy Collins, public policy and advocacy asso- ciate director at the Connecticut Conference of Munic- ipalities, a group that represents cities and towns, said the SHPO process isn't an issue in a lot of cases, but there are some "occur- rences where it was really slowing down development projects." "Historic preservation is important — people care about that aspect of their town," Collins said. "But at the same time, the whole thought is that historic preservation can't be to the detriment of economic development or moving forward." Referring to the Bridgewater project, Collins said town officials and resi- dents were frustrated over the SHPO process because it generally "wasn't very clear." Providing transparency and consistency to decision-making is important, he said. Meeting redevelopment project time- lines is also crucial, Collins empha- sized, because delays impact costs. "The longer that you sit on these projects waiting to go through the legal process, you're paying for all these rising costs, before you're seeing a return on investment," Collins said. CCM is advocating for an appeals process to SHPO decisions. Or, it wants SHPO's decision-making process overhauled to include more local input. David Griggs, president and CEO of the MetroHartford Alliance, said his organization typically interacts with SHPO when one of its members is working on a project that falls into the group's purview. While acknowledging SHPO plays an important role in preserving Connecti- cut's history, espe- cially in a city that's approaching 400 years old, Griggs said he also advocates for an appeals process. SHPO's point of view In testimony to the Commerce Committee last March, Jonathan Kinney, state historic preservation officer and director of operations for the State Historic Pres- ervation Office, defended his organization's role. He wrote that "SHPO does not view historic preservation and economic development as two opposite ends of a spectrum," and that its historic tax credit program "is devoted to putting underutilized or vacant buildings into use." During fiscal year 2022, SHPO approved over $27 million for the rehabilitation of historic buildings that leveraged nearly $93 million of private investment, he said. According to DECD's annual report, SHPO issued $18.1 million in historic rehabilitation tax credits in fiscal 2022 to nine recipients. In terms of its regulatory review process, SHPO comments on approximately 3,000 projects a year. "Of those, less than 3% result in an opinion of adverse effect," Kinney said. He added that as an office created through federal legislation and receiving funds through federal appropriations, SHPO is "bound to administering our programs according to federal processes, guidelines, and protocols." A new third-party appeals process could result in decisions that conflict with national guidelines or standards, he warned. PHOTO | COSTAR David Griggs Randy Collins Here's A Glimpse of Our Bank Portfolio... Building banks is a specialty of ours. Over the years, PDS has had the great privilege of working closely and often with some of the area's most respected banks, including TD Bank and Webster Bank. These projects have ranged from new construction to general renovation, including several new free standing buildings, one of which incorporated the latest TD Bank design with LEED Platinum credentials. In addition, we have completed fast track interior fi t-outs with all new fi nishes specifi c to our client's design needs. With in-house disciplines of engineering from civil to mechanical, PDS can design the right building to fi t your budget and timeline. SPOTLIGHT ON: COMMERICAL 107 Old Windsor Road, Bloomfi eld, CT 06002 | 860.242.8586 | pdsec.com THINK • PLAN • BUILD 4,000 SF | Wallingford, CT 4,000 SF | Norwalk, CT Various Interior Renovations CONSTRUCTING EXCELLENCE

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