For the Downtown Jamestown Historic District securing the historical designation means most property owners can tap into historic preservation tax credits, one of the most lucrative and effective subsidies of recent years. The current federal and NYS tax credit programs have enabled much of the recent revitalization work in Buffalo and other parts of the state. Giving downtown Jamestown property owners access to this subsidy significantly increases the chances of renovation downtown, improves the quality of the downtown environment, and increases the inventory of available space. Over time, this stimulates demand, which brings new investments, rising rents, higher property values, a more stable financial picture for building owners, and a stronger tax base for the city. The Gokey, Key Bank and the Wellman Buildings, along with the Covenant Manor Apartments, are examples of those that have been able to take advantage of these tax credits.

The Lakeview Historic District is the first residential neighborhood in Jamestown to have been nominated. JRC worked with the State Historic Preservation Office (SHPO) to define the boundaries of the Lakeview district to be as broad as possible to encompass 200 property owners making them eligible for the tax credits. In just two years, a total of $88,000 has been invested in SHPO-approved improvements to eligible historic properties in this historic district. The property owners report that the SHPO staff was kind, understanding and helpful in the tax credit paperwork process.

The Forest Heights Historic District, with over 140 properties, is important to the historic development of Jamestown and contains a distinct mix of buildings in various architectural styles. Some properties in the neighborhood are individually listed on the State and National Register of Historic Places, including the former home of Governor Reuben E. Fenton. Architectural styles in Forest Heights include Greek Revival, Colonial Revival, Queen Anne, and other vernacular types of structures.