The preservation and rehabilitation or restoration of older structures in residential areas both revitalizes and stabilizes neighborhoods. Tourism is enhanced and economic vitality boosted in a city where people take pride in their past. A historic district gives its residents and businesses a sense of purpose and there is a recognition of character and detail in buildings in such an area that modern structures do not have and cannot be replaced. Identification of a historic district often leads to a greater desire by property owners to preserve the character of the neighborhood and to make greater efforts to maintain, preserve and rehabilitate their properties, thereby contributing to the revitalization of the entire area. There are economic benefits as well.
Property values tend to increase when the above factors are in place.
Federal tax benefits are available for the preservation of income producing properties. Adoption of a theme for a historic district provides a model for building restorations and in cases of new construction, to avoid the intrusion of structures that are incompatible with the character and style of a certain area. The Stockton Municipal Code states that no structure in a historic district may be constructed, altered, demolished, relocated or removed without the approval of the community Development director upon recommendation of the Cultural Heritage Board. The review controls only pertain to exterior alterations of the buildings. Some property owners may perceive these controls as interference with rights of property owners.