What Could Have Been Done With The A.N. Myers Home - Money

In past blogs about a preservation plan for the A.N. Myers Home, razed by the Ashland County Historical Society, I wrote of the minimum of $26,000 per year that the Society acquired from rent. By renting for five years the Society could pay for the exterior restoration just through rental income. Thinking about the rehab of the interior main floor and basement, with minimal updates to apartments on the upper floors, we know that the Society would then loose the income from the main floor, which I estimated at $800 in a previous blog (I would venture to guess they got more for the main floor doctor's office). That would bring down the income per year to $16,400.
The former director of the Ashland County Historical Society said time and again that it would cost $1,000,000 to rehab the A.N. Myers Home. While I argue that number I will use her number to show a preservation plan. I'm told that the Noonan House, the offices of the Ashland County Historical Society cost over $800,000 to build. I know the the A.N. Myers House could have been cheaper for the Society and didn't have to be torn down.
$1,000,000 hmmm. minus 20% tax credit
$800,000 (The same price as the Noonan House, without the history)
$800,000 minus the approximate $260,000 in rent the Ashland County Historical Society collected for the ten years
$540,000
And now there are the potential grants:
Save America's Treasures - matching grants $125,000-$700,000
Ashland County Community Foundation - Support is provided for: Building/Renovation, Project Grants, Matching Grants
Johanna Favrot Fund for Historic Preservation - $2,500 to $5,000
Cynthia Woods Mitchell Fund for Historic Interiors - $2,500 to $5,000
National Trust Loan Fund - Low Interest Loans
Lowe’s Charitable and Educational Foundation Preservation Fund - $$ vary
Preserve America - $20,000 -$250,000 50/50 match
Jeffris Heartland Fund - $5,000 -$50,000
National Endowment for the Humanities Challenge Grant - $30,000 to $1,000,000 25/75 match
The Crock Center in Ashland raised look funds to help build their complex. The United Way raises 3/4 of a million dollars every year here in Ashland. I have to think that the community would have found a way to assist in the restoration and rehabilitation of the A.N. Myers Home it not been destroyed.