This means that it would be officially registered as a sort of historical area. There are fewer restrictions on the use of buildings in a preservation district than on buildings that are singly designated as historical. There seem to be a lot of benefits for an area with this designation. The Village of Lancaster in New York has been designated a preservation district. Its website points out that this distinction has many benefits for the area.
Historic preservation is a catalyst.
Historic preservation demonstrates that the rehabilitation of older structures not only preserves a sense of our architectural heritage but also provides an attractive and viable opportunity to businesses wishing to take advantage of such structures, thus stabilizing the local economy. Historic preservation is a powerful economic generator. The increase in the tax base and creation of new jobs in preservation districts are real and significant benefits of preservation activity. Historic preservation improves housing. Historic preservation builds community pride and preserves values.