The City’s Preservation Revolving Fund was established by the City Council in response to recommendations of the Historic Preservation Element of the 1989 Comprehensive Plan. It was capitalized at a rate of $50,000 per year from FY 92/93 through FY 96/97 for a fund asset total of $250,000.  An additional $25,000 was received from the Housing and Neighborhoods Department in the early 2020s.

The fund is designed to work on a revolving basis. The City lends monies to help provide bridge financing for historic preservation projects. Later loan repayment then reimburses the fund and makes those dollars available for future projects.

Interested parties apply through the RHDC to City Council for funding. All requests are considered on a case-by-case basis. The revolving fund acts as a reserve and is available to respond to opportunities and threats to Raleigh's historic properties when they arise. It provides a more predictable and responsible way for the City to anticipate and respond to historic preservation needs.

Past Projects:

• Roger-Bagley-Daniels-Pegues House, 125 E. South St. ($75,000)
• Gethsemane Seventh Day Adventist Church, 501 S. Person St. ($91,000)
• Crabtree Jones House, 3017 Wake Forest Rd. ($100,000)
• Plummer T. Hall House, 814 Oberlin Rd. ($58,594)
• Lustron House, 314 Haywood Ave. ($100,000)
• Plummer T Hall and Graves-Fields Houses, 812 Oberlin Rd. ($175,000)
• Bill and Betty Weber House, 1514 Delmont Dr. ($215,000)