A preservation revolving fund is a pool of capital created and reserved to control and protect historic properties for rehabilitation, with the restriction that the monies are returned to the fund to be reused for similar preservation activities.

Many of the first preservation revolving funds got started by purchasing one building in response to a specific crisis. Today, these revolving funds are most often used strategically to spur community revitalization and to accomplish specific preservation objectives.

More than 60 such revolving funds exist throughout the US.  Besides being a valuable tool for saving historic buildings, a revolving fund can influence the future of an entire neighborhood by bringing cash or rehabilitation expertise to a project.  The programs and their manager help ensure that preservation is a part of the larger revitalization effort.

This publication is based on the Preservation Books title Preservation Revolving Funds which was first published in 1993 and then updated in 2006. This iteration was produced in 2015 in conjunction with the Spring 2015 Forum Journal: Get Real about Real Estate.