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This long-term saving plan freezes your assessed property evaluation (at the prehab value) for 8 years after you've rehabilitated your building. Your property taxes increase by 25-percent each year for 4 years after the initial 8 years.
Undertaking- Projects, activities, or programs funded in whole or in part under the direct or indirect jurisdiction of a Federal agency. Includes those carried out by or on behalf of a Federal agency; those carried out with Federal financial assistance; and those requiring a Federal permit, license, or approval.
Section 106 of the National Historic Preservation Act, and the implementing regulations at 36 CFR 800, requires the South Carolina State Historic Preservation Office (SHPO) to review all projects/undertakings that are federally funded, licensed, permitted, or assisted.
Section 106 Consultation Therefore, Federal agencies are required to consider the effects of federally sponsored projects on historic properties in consultation with identified historic preservation stakeholders.
Section 106 of the 1966 National Historic Preservation Act (as amended) aims to protect historic and cultural properties from unintentional federal action. A federal action can be through a permit, license, or funding.