revolving or special redevelopment incentives for … incentives for downtown including ms, stms and...
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Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Albemarle
Façade Improvement Grant: 50%
Matching Funds up to $1,000.00.
Funded through City
appropriation and local private
support.
Sign Grant: 50% Matching
Funds up to $500. Funded
through City appropriation and
local private support.
Landscape Grant Program; 50%
Matching Funds up to $750.00 . Funded
through City appropriation and local
private support.
Architectural Services Incentive: An
incentive to encourage good design
projects which capitalize on the
rehabilitation of existing properties
and/or the introduction of sympathetic
new building design. Provides 50% of the
design cost of up to $1,000/project.
Funded through City budget
appropriation.
Albemarle Downtown Area
Revitalization: The purpose of the
Albemarle Downtown Area
Revitalization is to encourage and/or
promote infill growth with historic
restoration and new commercial
development, to include mixed use, in
the MSD. Revitalization grant incentives
are as follows:(1) Appraised tax value of
site or building is determined before any
construction begins; (2) Appraised tax
value of site or building is determined
after construction is completed upon the
issuance of a certificate of occupancy;
(3) Owner pays full amount of newly
appraised tax value of property; (4) The
City of Albemarle provides grant
incentive to property owner; (5) Five (5)
concurrent tax years is the applicable
time period for grant incentive. Funded
through City budget appropriation.
Benson
Reimbursement based, $500 grant
award paired with a 1:1 dollar match
for approved façade projects up to a
ceiling amount of $1,500
Revolving Loan Fund: established to
encourage the
development/redevelopment of
commercial and residential uses in the
central downtown business district.
The Program serves to provide lower
interest rates and more flexible
borrowing terms to downtown
investors, in order to meet the specific
economic needs of downtown projects.
The RLF is intended to offer financing
at less than market interest rates to
make it more financially feasible for
owners or developers to renovate
buildings. Lower interest rates and
longer terms will reduce the owner’s
monthly debt service and will enable
the owner to offer the units for
monthly rents affordable to more
people. Funded through USDA Rural
Development Grant
Downtown Benson New Business
Start-Up Incentive Grant: $1,500 as a
1:1 match per grant. The goal of this
grant is to encourage new business
start-up without the need to establish
another loan. Downtown Benson
New Business Rental Assistance
Grant: Grant amounts shall be 25% of
the rental price for a period of 12
months. The maximum contribution
will be established by an annual
market assessment of downtown
rental properties but in no case shall
the contribution exceed $300 per
month. Must submit a grant
application along with a copy of the
lease agreement and business plan.
Downtown Benson Residential
Incentive Grant: This grant should
have a $2,500 maximum amount and
should be used for up-fitting the
upper floor(s) of any downtown
commercial building for a residential
tenant. This will be a 1:1 matching
grant program. This grant may not be
used for any other ground floor or
upper floor use.
Public Utility Grant: The grant will be a
reimbursement of 25% of each month’s utility
bill for the period of one year. This grant is
available for any new business in the Greater
Downtown Area only. Downtown
Benson Redevelopment Incentive Grant –
The purpose is to encourage and /or promote
infill growth as well as building rehabilitation
throughout Benson’s Greater Downtown
Area(GDA) Any owner of a commercial
building and/or vacant property within the
GDA is eligible to apply. Residential projects
are eligible only in the creation of upper floor
units (condo or rental apartment) in an
existing commercial structure with a
commercial use on the street level; or as part
of a new mixed-use project with the
residential component on upper floors.
Reimbursement grant disbursed over 5 yrs,
based on the appraised tax value of the
potential site or building.
Rehabilitation Loan Fund--loans at a fixed
interest rate of ¾ prime amortized over 20-
40 years. Each loan has a five year balloon
payment or call. Business needs identified in
the 2009 Market Analysis will receive first
priority for lending. Retail-Commercial Loan--
for leasehold improvements only. Building
owners and lessees will not qualify unless
they are up-fitting the building for their own
small business use. The loan program shall
provide up to 100% of up-fit for projects not
exceeding $10,000. Operating Loan--
Loans for inventory, furniture, fixtures,
signage and equipment are eligible for this
program. For new businesses only up to $5K.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Boone
Facade Incentive Grant: Grants
shall be awarded on a
reimbursement basis only
following the satisfactory
completion of an exterior facade
renovation as detailed in grant
application. Up to one-half of the
total cost for a renovation may be
approved with a maximum award
of $2000.00 per facade. Funded by
MSD funds.
Grants shall be awarded on a
reimbursement basis only
following the satisfactory
completion as detailed in the
application. Up to one-half of
the total cost for a sign may be
approved with a maximum
award of $1000.00 per sign.
Brevard
Small Grants Program: Requires a 50%
match and is structured as a deferred
loan, meaning that if the improvements
stay in place for three years the interest
free loan becomes a grant. If the
business closes or changes hands, the
loans become due to Heart of Brevard.
Covers interior and exterior
improvements. Funded by Heart of
Brevard general funds and other
economic development partners..
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Burlington
Building Rehabilitation and
Modernization Grant-Exterior Facade
& Signage- To encourage the
rehabilitation of buildings within the
downtown area in a manner that
contributes to an attractive business
district while meeting the modern
needs of business and living spaces.
Wood and masonry repair, window
repair, exterior painting, appropriate
cleaning of brick or masonry, awning
installation and signage. $7,500 per
façade or per interior with a $20,000
building maximum are available on a
50/50 matching basis. Rear and side
facades that are viewable from a
street are eligible if the front façade
has been improved. Program is
structured as a 5-year deferred loan,
meaning that after 5 years, if the
building is maintained, the loan
becomes an interest-free grant. Roof
repair/replacement is subject to the
façade maximum of $7,500. $1500 in
matching funds for signage
installation is also available.
Available for MSD property and
business owners. Funded by MSD
funds and City grant.
Business Upfit Grant: To expand
and facilitate the growth of new
and current business in DT.
Priority is given to specific
business types such as full service
restaurants, specialty retail etc.
50/50 matching program with a
maximum of $5K with the
possibility of an additional $5K for
restaurants needing specialty
equipment. Funds may be used
for demolition, painting, finish
carpentry, fixtures, flooring and
equipment. New businesses in
operation less than 2 years &
existing businesses that are
expanding or changing their
business model are eligible.
Funded by MSD funds and City
grant.
Building Rehabilitation and
Modernization Grant Interior
Systems Grant: To encourage the
rehabilitation of buildings within
the downtown area in a manner
that contributes to an attractive
business district while meeting the
modern needs of business and
living spaces. -Addresses
modernization of the interior shell
of DT buildings. This can include
upgrades to plumbing, hvac,
electricity, fiber optics, energy
efficiency improvements and
improvements related to the
Number 1 fire district. $7,500 per
façade or per interior with a
$20,000 building maximum are
available on a 50/50 matching
basis. The program is structured as
a five-year deferred loan, meaning
that after five years, if the building
is maintained, the loan becomes
an interest-free grant. Funded by
MSD funds and City grant.
Marketing Assistance Grant: To assist
new and existing businesses in their
effort to expand their businesses, attract
new customers and to keep their
businesses on sound financial footing.
Activities under this program are less
likely to be issued in the form of direct
grant assistance and more likely to be
issued through technical assistance.
Proceeds from this grant may be used for
specialized training, workshops, software,
research or development of marketing
strategies. The max grant amount for the
two year period is $3,000 and is a 50/50
matching program. Both new and existing
businesses are eligible. Interested
applicants should meet with BDC staff
prior to application to discuss their
proposal and potential available
resources. Funded by MSD funds and
City grant.
Downtown Residential Incentive Grant:
To aid in the development of quality
income-producing resident uses in the
upper levels of buildings within the
downtown MSD. Will fund interior work
associated with creating Class A
residential units, including demolition,
up-fit, and installation of systems,
finishes and fixtures. Eligible projects
include: rental or apartment housing,
condo development, or hotel
development. Available Funds: A
$3.50/sq ft. subsidy is proposed with a
maximum of $5,000 per unit for the first
100 units built, with a $2.50/sq ft
subsidy available for the next 150 units
built. Units to be designated as Class A
are eligible. Class A will be determined
by the BDC. Applicants will submit
sample boards of finishes to help
determine eligibility. Investor-owners of
Class C or B units wishing to upgrade
them to Class A are also eligible for the
grant. Funded by MSD funds and City
grant.
Carrboro
Loans from the fund for projects
such as construction or renovation
of a building, purchasing existing
buildings, the acquisition of
equipment, the extension of
utilities or streets to new sites,
parking lots, and inventory. Other
potential projects are explored s as
long as it can be shown new jobs
are created or retained. Project
must use some private funds,
preferably at least 50% of the
project cost. Project must create or
retain at least one job per $10,000
of CRLF moneys and 51% of jobs
should go to those with low or
moderate incomes.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Clayton
Grant of up to $5,000 per façade
on a 50% (DDA) / 50% (Applicant)
matching basis as funds are
available . Funded through Town
general fund.
Clayton Downtown Redevelopment
Incentive Grant (CDRIG) based on tax
value difference from beginning of
project to conclusion - for infill and major
rehab projects
Clinton Façade Improvement Grant
Program: Up to $1,000 per façade
on a 50:50 matching,
reimbursement basis. Must be in
accordance with design guidelines
for historic district. From MSD
funds.
Downtown Special Tax District Incentive
Program: A property owner or developer
within the special tax district, after
completing application process and
paying all annual property taxes, will be
"granted" from the City of Clinton and
Sampson County a sum equal to the
difference between the total tax amount
paid and the original tax value before
renovation and construction. The special
tax district incentive program time period
is five years. From MSD funds
Concord
Reimbursement matching grants,
50/50 matching basis. The
maximum CDDC contribution is
$2,500. Funded through city budget
appropriation.
Jump-Start Grant Program:
created to encourage the location
of businesses in specific categories
to the Municipal Service District of
downtown Concord. The grant is
a one-time reimbursable matching
grant in an amount up to $1,500
which may be used to assist in
interior building improvements
and other start-up expenses
related to opening the business.
Funded through city budget
appropriation.
Designed to assist business
owners in the design and
funding of signage for
downtown businesses. These
reimbursement matching
grants cover up to 50 percent
of the cost of the design and
production of signage and will
not exceed $350.00. Funded
through city budget
appropriation.
Upper Floor Grant Program was
created to encourage investment
in renovating and restoring upper
floors of buildings within the MSD.
Reimbursement matching grant
program, 50/50 matching basis.
The maximum CDDC contribution
may not exceed $2,500. Funded
through city budget appropriation.
The City offers a reduction of 85% of
property taxes for three years to any
property owner who invests at least
$100,000 in the MSD.
Davidson
Dunn
Metal Awning Removal Assistance
Program: Established by the Downtown
Dunn Dev. Corp. to provide financial
assistance and incentive to property
owners to remove their metal awnings.
Up to $500 available and renovations
must conform to City building and zoning
codes.
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Durham
Façade Grant Program:
Reimbursement basis up to $3000.
$100 Application fee. Funded
through City of Durham budget
appropriation through ED office to
Downtown Durham, Inc. The
objective of the facade and sign
grant programs is to improve the
pedestrian experience downtown
by enhancing the visibility and
appearance of downtown
businesses through
Signage and façade improvements
that are physically, historically and
architecturally compatible with
downtown buildings.
Sign Grant Program:
Reimbursement basis up to
$2000. $100 Application fee.
Funded through City of Durham
budget appropriation through
ED office to Downtown
Durham, Inc.
Eden
Façade Grant program-$500
maximum award, 1:1 match
required. Funds are from
appropriation from the Eden City
Council.
Edenton
Costs of eligible projects are
shared between the tenant/owner
and Destination Downtown
Edenton on a 50/50 matching
basis, up to $1,500. DDE share is
provided as provided as
reimbursement at the completion
of the project. From DDE general
budget
Elizabeth City
Facade Matching Grant Program-
Two award categories. 1) funds
available for façade improvements
1:1 up to $1,000 include awnings
and signage. 2) Special projects
that cost less than $10,000 and
project is larger than an average
facade or is undergoing substantial
renovations are eligible for up to
the lesser of $2500 or 1/2 the
total cost. Funds provided
through City appropriation.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Elkin
Facade Improvement Program:
Reimbursement basis matching
grant program. Costs of eligible
projects are shared between the
tenant/owner and the Façade
Grant on a 50/50 matching basis,
with the MSAB’s Façade Grant
share provided as reimbursement
at the completion of the project.
In each project the contribution by
the owner must equal or exceed
the MSAB amount. All
improvement work will be
inspected upon completion and a
check will be issued provided the
work is accomplished in
accordance with the agreement.
The minimum project funded will
be $400.00 and the maximum
project funded will be $2000.00,
with respective matches of
$200.00 and $1000.00 from the
applicant From MSD funds.
Mural Grant Program: 50/50 match up to
$1500 for adding a mural to downtown
buildings. From MSD funds.
Farmville
Façade Improvement
Grant—Grants will be given on a
50% owner/50% Town of
Farmville basis not to exceed
$5,000 grant award for the total
project. Funding will not be
distributed prior to a final site
review by the Façade Grant
Coordinator and receipt of copies
of invoices and proof of payment.
Funds provided as a recurring
appropriation by the Town Board
of Commissioners.
Forest City
Provides design services only.
Funds the fees of a preservation
architect and a preservation
planner (for tax credit applications
and advice) for use by any
property owner rehabbing their
building. This is about $12,000-15,
000 a year, sometimes more.
Town will pay half the fee.
Mini-grant program – not offered
every year, but when monies
available, will cover wide range of
business improvement requests. In
2010-2011, pot was $25,000.
on a case by case basis, Town will put in
free lines and taps (we are the utility
company).
Case-by-Case Incentive Program for
bigger projects
Franklin no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Fuquay-VarinaFaçade Matching Grant Program:
administerd by Town with budget
appropriation. 1:1 match up to
$2500.
Garner
Available to commercial buildings
located in the Central Business
District. Up to 50% of the
renovation costs, not to exceed
$5,000 will be reimbursed to the
property owner upon successful
completion of the project. Grant
funds will be disbursed once work
has been completed, inspected
and all copies of all paid receipts
presented to GRA. Property
owners must sign a Maintenance
Agreement committing to
maintain the property after work
is completed. Allottedto GRA from
Town budget .
Gastonia
I.D.E.A.L. Façade Improvement
Incentive: open to businesses in
the MSD that have been open for
at least 12 months. For façade
alteration or improvement up to
50% of the incurred cost up to
$2500 on a reimbursement basis
and must meet CBD design
standards in the city's UDO.
Funded through MSD
I.D.E.A.L. Rent Subsidy Incentive:
Eligible businesses shall receive a
monthly payment, not to exceed
12 consecutive months, which
cumulatively totals to $3/sq.ft. of
tatal dedicated useable space or
$5/sq.ft. of total dedicated
useable space depending on the
business category and subsidy
payment shall not exceed 50% of
total rent paid for any given
month. Funded through MSD.
I.D.E.A.L. Up-fit Incentive: Eligible
businesses receive a one-time
incentive grant up to $3/sq.ft. of
tatal dedicated useable space or
$5/sq.ft. of total dedicated
useable space depending on the
business category not to exceed
50% of allowable business upfit
expenses. Allowable up-fit
expenses shall be limited to
additions and/or renovations
which will remain w/ the building
if/when lease is terminated.
Funded through MSD.
I.D.E.A.L. Architectural Design Services
Incentive: Building owners &/or potential
eligible business owners in the MSD can
apply for a voucher for architectural
design services not to exceed 10 billable
hours at no more than $125 /hr. from
the city's designated on-call architect.
Funded through MSD.
Gaston Chamber Membership
Incentive: Businesses are eligible to
receive a one-year trial membership in
the Gaston Chamber funded jointly by
the IDEAL program & the Chamber's
scholarship fund to provide grant
recipients with access to business
expertise, instruction and contacts to
help promote the success of the
receipient's business and includes a
mentor from a similar business.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Goldsboro
Three facade award categories are
available, depending on the project
scope: 1) At a minimum, qualifying
projects are eligible for a grant of up
to $1,000 per façade on a 50/50
matching, reimbursement basis. 2)
Special Projects that cost less than
$10,000 in total facade expenditures
by an applicant are eligible for a grant
of up to the lesser of $2,500 or 1/2
the total cost. 3) Special Projects that
exceed $10,000 in total façade
expenditures by an applicant are
eligible for a grant of up to 25% of the
total façade project cost. The
maximum amount awarded to an
applicant per project is not to exceed
$10,000 in a 10 year period. Funded
from MSD funds.
Downtown Business Incentive
Grant Program: Applicant must
either be a new business start up
or an existing business that has
been in operation for at least 3
years and is located outside of
downtown with plans to relocate
within the MSD. The program
offers a one-year grant of no more
than $400/month paid in equal
monthly installments for one year
to the applicant once the
applicant’s business has
opened. Funds will serve as a
reimbursement for eligible
expenses during the monthly
period, including but not limited
to: a) advertising, b) utilities, c)
rent and d) insurance.
GreensboroThe Façade Improvement
Program provides a matching
grant of up to $5,000 or 50% of
the façade renovation project,
whichever is less. The Façade
Design Assistance Program
provides the services of architects
to offer ideas
for façade improvements.
Business owners select an
architect from a DGI list. After
conferring with the property
owner, the architect provides
sketches of a potential new
façade.
DGI has a Professional Advisors Panel to
help existing or new entrepreneurs in the
center city. The panel consists of experts
in financing, real estate, marketing,
architecture and construction who can
provide one hour of free, confidential
business assistance
City of Greensboro Targeted Loan Pool
Program: leverages private lender funds
going towards the expansion of business
opportunities. consisting of City
investment of $400,000 of CDBG funds,
which are combined with $600,000 of
private funds through bank partners.
Loans can be made available to existing
businesses for expansion or for start-up
businesses. Business must be located or
desiring to locate in Greensboro’s State
Development Zone area. Loan amounts
$25,000 to $250,000. For each $50,000
borrowed a permanent job must be
created or retained for low and
moderate income persons. Loan
amortization can be up to 15 years. If
funds are for renovations, borrower has
an interest-only payment for 6-12
months to complete work before making
a complete loan payment. Interest Rate:
The City’s loan (40% of loan amount) is
at or less than 5%. The bank loan (60%
of loan amount) is at the servicing bank’s
prime rate.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Greenville maximum grant that may be awarded
per facade is $5,000 on a minimum of
$10,000 ofexpended facade
improvements/repairs by the
owner/tenant with a $1:$2 match.
Façade Design Assistance Program provides
the services of architects to offer ideas
for façade improvements. Business owners
select an architect from a DGI list. After
conferring with the property owner, the
architect provides sketches of a potential
new façade.
Henderson
Hendersonville
Façade Grants-Partners with
Hendersonville Historic
Preservation Commission. Will
pay 50% of qualified rehabilitation
costs. Maximum award is $1500.
Funded through MSD funds and
Funds from the Historic
Preservation Commission.
Hertford
Façade Improvement Grant:
Funded through Historic Hertford,
Inc. Costs of eligible projects are
shared between the tenant/owner
and HHI on a 50/50 matching basis
with HHI’s share provided as
reimbursement at the completion
of the project up to $1,000.
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Hickory
Community Appearance Grant:
This program offers matching
grants of up to $5,000 or 50 % of
exterior improvement costs
(whichever is less) to projects in
the Urban Revitalization Area.
Examples of eligible façade
improvements include: window
replacement, detail painting,
repointing of brick and
mortar.Program administered by
the Community Appearance
Commission. Through City of
Hickory. Historic
Preservation Grant: Grants of up
to $2,500 or 50% of eligible
projects costs (whichever is less)
are available for properties which
qualify for National Register
listing. The cost of research for
North Carolina Study List inclusion,
consultants’ work for listing to the
National Register or costs of
preparation of tax credit
nomination are eligible activities.
The buildings must be vacant or
under-utilized for at least six
months to qualify for grant
funding.
Vacant Building Revitalization and
Demolition Grant: Through City and may
be used in DT, this program seeks to
encourage the reuse of vacant buildings
over 10,000 square feet that are located
within the city’s Urban Revitalization
Area. This grant program is designed to
help owners of vacant property make
improvements that will result in the
occupancy and reuse of their vacant
buildings and improve the surrounding
neighborhood. Funding of up to $30,000
or 15 % of eligible project costs
(whichever is less) is available interior
and exterior improvements to vacant
buildings located within the Urban
Revitalization Area. Funding of up to
$20,000 or 35 percent of eligible project
costs (whichever is less) is available for
demolition of substandard buildings.
Landscape Incentive Grant: This
program provides grants of up to $2,500
or 50 percent of eligible landscaping
costs (whichever is less) for businesses
to make improvements to their
landscaping. This grant is administered
by the Community Appearance
Commission.
Jacksonville
Matching reimbursable grant
funds whereby B.O.L.D. of
Jacksonville, Inc. will match 50% of
each dollar spent by the
applicant/business on exterior
façade improvements, up to
$2,500.00 after the work has been
completed.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Kings Mountain
Façade Grant Program: Up to
$6,000 per façade at a 50:50
match. Minimum project cost is is
$5,000. Funded by City through
Planning Dept funds.
Downtown Signage Grant
Program: Maximum grant
amount is $ 750 with a 50:50
match on a reimbursement
basis. Thorugh city funds.
Downtown Development Inducement Grant
Program: 100% of the costs of façade design
work up to $1000 will be forgivenif the
property preservation or rehabilitation meets
the Sec. of the Interior Standards w/in a 2
year period.
Kinston
Façade/Interior Renovation
Program is designed to encourage
renovation and restoration of
commercial and multi-family
residential buildings in downtown
Kinston. Qualifying façade
enhancement projects are eligible
for a grant of up to $2,000 per
facade on a 50-50 matching basis.
Interior renovation and roof
protection projects may receive up
to $20,000 on a 1:3 matching
basis.
Interior Renovation Program: see
Façade Interior Renovation
Program.
Lenoir
Façade Improvements funded
through Building Improvement and
Rehabilitation Program-see under
"Other Incentive"
Building Improvement and
Rehabilitation Program: Funded by City.
Applicants are required to invest $3 for
every $1 of grant funding received.
Grants range from $500 to $5,000.
Projects exceeding $20,000 will still only
be reimbursed for eligible expenditures
up to $5,000. Covers a variety of interior
and exterior improvements including ADA
upgrades, sprinkler systems, facades,
window repair etc.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Lexington
Façade grants available to property
owners/tenants in the MSD as
follows: 50 Lineal Feet or Less is
eligible for a maximum grant of
$2,400 per facade that faces a city
street; 50 Lineal Feet or More: Any
building w/ a facade exceeding 50
lineal feet may request an additional
$25 per lineal foot as determined by
Uptown Lexington, Inc. The maximum
grant available is $4,200; Any parking
lot or improvement other than a
building shall receive a maximum
grant of up to 50% of the total cost or
$4,000, whichever is less. Signs are
eligible for grants of 50% of the
project cost up to $500. Funded
through a grant from the City to ULI.
Endangered Properties Program:
Uptown Lexington Inc., works to
purchase and stabilize significant
properties in the Uptown district and
then market them for business
development.
Design Assistance Prorgram: offers free
design assistance for exterior façade
improvements, parking lot design, and site
improvements for properties located within
the Uptown Lexington Municipal Service
District. Funded by the City of Lexington and
administered through the Façade Incentive
Grant Program by Uptown Lexington, Inc.,
this incentive is intended to assist property
owners and/or business owners in making
good design choices that will enhance their
individual properties and support Lexington’s
streetscape and uptown district.
The City of Lexington has specific
commercial customer rebates for both
electric and natural gas. For more info, see
www.lexingtonnc.net.
Lillington
Façade Grant Program: Town
provides 50% match up to $2,000 for
improvements to the exterior of their
downtown buildings including
signage, canopies, brick repair,
repainting, windows, and more.
Funded through Town budget
appropriation.
Lincolnton
Incentive Grant Program for
Storefront Rehabilitation: Provides
50% of the total cost of approved
projects up to $40 per linear foot of
front façade of buildings more than
50 years old. Side facades are eligible
on corner buildings and buildings
where the side façade is clearly visible
from a public right-of-way as the
result of a missing building or change
in building setback. (If a building has
more than one eligible facade, each
façade is considered separately. See
Example) Rear facades are ineligible
to receive grant funds. Funded from
city budget .
City of Lincolnton established its
Redevelopment Incentive Grant to to
encourage and promote infill
development and the major
rehabilitation of older buildings in
downtown Lincolnton. It is a formula
grant that reimburses the developer
for the net gain in property tax value
for the project. The private developer
pays all up-front development costs
then is paid a cash grant based on the
amount of tax revenue generated by
the project.
Incentive Grant Program for Substantial
Building Rehabilitation:: Provides $10.00 per
$100 (10%) of assessed value which assures
that the rehabilitation incentive operates
within the context of the building’s local real
estate market, for commercial buildings over
50 years old,, expenditures must exceed 50%
of the improvements value of the building--
within 24 months. Funded from city budget
Architectural Services Grant Program:
Incentive to encourage good design projects
which capitalize on the rehabilitation of
existing properties and/or the introduction
of sympathetic new building design.
Provides 50% of the design cost of up to
$2,500. Revenue generating business or
residential property eligible for listing on the
National Register of Historic Places or in an
NR District in which design drawings will
facilitate the reuse of the building and/or
property with priority given to adaptive
reuse of white elephant buildings, infill new
construction & conversion of upper story
space into residential dwelling unit(s).
Funded from city budget
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Lumberton
City of Lumberton committs $25K
per year and will pay will pay one-
half (1:1 dollar ratio) of the cost of
improvements not to exceed
$10,000. The property owner is
responsible for maintenance of
façade and/or landscape
improvements. Has been
expanded to include inside
renovation that is matched if the
property owners spends 50% of
the grant monies on outside
improvements. Will also match
anything that has to do with
energy efficiency improvements:
window replacement, HVAC units,
indoor lighting, etc. Funds
disbursed on a reimbursement
basis upon furnishing paid receipts
for approved expenditures
Marion
Historic Marion Grant: For
Downtown Historic District. 50/50
matching façade grant up to
$5,000. Funded through City of
Marion.
Is partnering with the North
Carolina Rural Economic
Development Center to offer local
entrepreneurs express loans of up
to $5,000 to start or expand a small
business through the center’s
Microenterprise Loan Program. The
Rural Center has committed
$250,000 for their new express loan
product. The express loan gives a
chance to small business owners
that aren’t quite ready for a larger
business loan or who need to build
their credit.
$750.00 50/50 match – Funded
with MBA membership funds
Historic District Façade Grant - $5,000.00
with a 50/50 match. This is a partnership
grant with MBA and McDowell Economic
Development Association to improve
neglected buildings in the Downtown
Historic District. 50% funded with MBA
membership funds and 50% funded from
McDowell Economic Development
Association
Mocksville
Façade Grant program. Funded
through City General Funds.
$5,000 fund. Up to $1,000 with a
50/50 match.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Monroe
1. City of Monroe Façade
Rehabilitation Grant Program:
Owners may receive up to 25% of the
cost of façade renovations not to
exceed $15,000. Corner buildings or
buildings with rear facades are
eligible to apply for up to 25% of the
cost of the additional renovations not
to exceed $10,000 to rehabilitate or
restore qualifying additional facades
on a first come first serve basis.
Funded through City budget
appropriation 2.
Façade Improvement Grant (FIG), was
created for the purpose of
encouraging private investment in the
restoration of building façades in
downtown Monroe. The grant assists
with the costs associated with
exterior improvements of buildings
that reside within the Central
Business District and can significantly
reduce these costs by as much as
50%, up to a limit of $4,000. Funded
by Downtown Monroe, Inc.
Downtown PRONTO offers rental
assistance, business license fee
assistance and interior upfit
assistance for qualifying
retail/restaurant businesses wishing
to open in Downtown. Maximum
award up to $10,000. Funded
through City budget appropriation.
Residential Investment Grant (RIG),
assists with the development of
residential uses in the upper levels of
the buildings that reside within the
CBD. This grant can significantly
reduce the costs associated with the
rehabilitation of an income producing
structure by providing up to $20 per
$100 (up to 20%) of the assessed tax
value. Funded through City budget
appropriation.
The Mixed-use Development Grant Program
(MuDI) assists with the renovation and
rehabilitation of Commercial and Residential
Properties w/in the CBD/MSD to encourage
occupancy of unused space within downtown
and serve as a catalyst to preserve the
structures that give Downtown its character.
This grant is for investors that take on a multi-
building development project of two or more
building structures which encompass a
minimum of 25,000 square feet. The purpose
of this threshold is to maximize economic
impact while insuring quality development.
This grant can significantly reduce the costs
associated w/ the rehabilitation of an income
producing structure by providing an incentive
of a minimum of $5.00 but up to $10.00 per
square foot based on $100 of value per
square foot (min. 5% up to 10%) for years 1-7
at City Council’s discretion. Funded through
City budget appropriation.
Development Incentive Grant (DIG)
established to help initiate quality new
projects within Downtown Monroe. This
grant targets investments made on vacant
land (infill development) or where
rehabilitation of an existing structure
requires extensive repair, structural or
otherwise, and replacement, acquisition
costs not applicable. This grant has a
minimum investment of $500,000.00. A
maximum grant amount up to 2% of the
total investment per project disbursed over
a seven (7) year period. Funded through
City budget appropriation.
Mooresville
Façade Awning Grants: grants are
made on a 50-50 matching basis and
that the reimbursement can be only ½
of the expenses associated with the
awning project, up to a maximum of
$1,000.00 per awning, per address.
Funded from the MDC general budget.
Utility Connection Incentive:
properties located within the
Mooresville MSD, will be subject
to payment of “System
Development” fees only for utility
connections. “Utility availability”
fees will not apply to those
properties located in the MSD.
Application for the Utility
Connection Incentive must be
made by the property owner and
submitted to the Director of
Administration of Finance and
Town Manager for approval of the
Utility Connection Incentive. From
Town budget.
Redevelopment Incentive: To encourage
and/or promote infill growth & building
rehabilitation throughout the DT Area. Any
owner of a commercial building and/or
vacant property within MSD can apply.
Residential projects are eligible only in the
creation of upper floor units in an existing
commercial structure w/ a commercial use on
the street level; or as part of a new mixed-use
project with the residential component on
upper floors. Incentive is in the form of a cash
incentive grant based on the increase to the
appraised tax value of the property. A
minimum of $300K worth of investment is
required to qualify for the incentive. Over the
course of 2 yrs.after the project is completed,
the Town will grant the property owner a
cash incentive equal to 100% of the town
taxes paid for the first calendar year after the
investment is made and up to 70% of the
town taxes paid for the second calendar year
after the investment is made. Implemented
through the City. From Town budget
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Morehead CityFaçade Improvement Grant
Program: $1250 per façade, 1:3
match
Morganton
Façade Improvement Incentive
Grants & Loans: Up to $500 in
matching grants per façade for
painting/maintenance; up to $500
in matching grants per sign for
new and unique signage; up to
$2000 per facade for renovations.
All are at a 1:1 match. Awning
replacement is available as a 0%
interest loan up to $4,000. Funds
from city appropriation.
Burke Business Loan Program (county
wide) - designed to assist small
businesses in Burke County includes
working capital as an eligible use. At
least one permanent FT job must be
created for every $10K lent and applicant
must match loan $ for $.
Mount Airy Façade Grant Program-Funded
through MSD. Up to $3,000 per
grant at at 50% match.
New Bern
City of New Bern’s Façade
Improvement Program is designed to
provide an economic incentive for
owners and tenants of commercial
property within the New Bern Gateway
Renaissance area and potentially other
distressed areas of the City to
encourage improvement in the
appearance, restoration, or renovation
of structures through a public and
private partnership betw. the owner
and/or tenant and the city. Funding may
be provided through the City of New
Bern General Fund and/or the use of
grant funding. Up to $10,000 per
approved project at a 1:1 match
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Newton
Facade Improvement Grant
Program: matching fund grant
with a $1500 maximum per
project with a match of $1
awarded for every $3 spent on the
project. Funded through city
budget appropriation.
Downtown Business Development
Grant is a contract betw. the City and
a new or existing business where the
City would make a grant to the
business for a period of up to 5 yrs
based on the amount of new capital
investment. The grant is calculated
and based upon the actual net
increase in taxable property value
and the corresponding additional tax
revenue collected by the City. . A
minimum investment creating a net
taxable property value of $50,000 is
required to be eligible for grant
funds.
North
Wilkesboro
Town of North Wilkesboro on a
60-40 basis will pay 1/2 of the cost
of exterior, approved
improvements not to exceed
$2000 for the first 30 linear feet of
a building and $50 per additional
linear foot not to exceed $4000.
Oxford
Rental Assistance Program
provides a monthly payment of
between $50 and $500 to the
business owner up to six (6)
months. The amount determined
by our Exec. Committee will
consider the category of need,
location, term of lease, employee
count, and factors such as cash
flow anticipated in the business
plan. Commitment to a multi-year
lease is considered in the
applicant’s favor as to the level of
assistance awarded.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Raleigh
Downtown and Pedestrian
Business Overlay District Façade
Grants: Through the City of
Raleigh, grant rebates of up to
$5,000 or 50 percent of exterior
rehabilitation costs (whichever is
less) are available for buildings in
other areas of Downtown or in
one of the Pedestrian Business
Overlay Districts for which
streetscape guidelines have
developed (such as Glenwood
South). Review and approval of
proposed rehabilitation projects
are based upon the design
guidelines or streetscape plans for
the area in which the project is
located. Property owners or
business tenants in the Downtown
or one of the Pedestrian Business
Overlay Districts may apply.
Tenant applications must have the
building owner’s written
approval. All applications must be
submitted for approval prior to
the beginning of construction.
Downtown Raleigh Loan Pool
Program: A program of the Raleigh
Economic Development Partnership
set up by Raleigh City Council with
the goal of focusing private
investment to complement the
City's capital investment in
downtown Raleigh. Loans of up to
$50,000 to qualified business
owners.
Reidsville
Facade Grant Program: All eligible
improvements must be part of a
comprehensive facade
improvement. For example, a
grant will not be awarded for just
windows when the rest of the
facade needs improvement.
Covers a broad range of possible
façade improvements including
lighting, signage, awnings. The
formula for funding of projects is
50% of the initial $10,000 plus
20% of additional cost up to
$30,000 with a maximum $9,000
per grant. Reimbursement grant,
from MSD funds.
Building Renovation Grant--To
provide property owners an
economic incentive to undertake
careful renovation and restoration
projects. The program encourages
good rehab projects that respect
the architectural integrity and
unique historic character of the
building. Reimbursement based,
50/50 match grant with a
maximum grant amount of
$5,000. From MSD funds.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Roanoke Rapids
Façade Improvement Matching
Grant Program: Qualifying
projects are eligible for a grant of
up to $1,000 per façade on a 50%
(RABA) / 50% (Applicant) matching
basis as funds are available.
Funded organization's general
fundraising activities.
Rocky MountDowntown Building Assistance Program-
City funds made available to match
private investment in exterior and
interior building improvements within the
Central City Business District.
Reimbursement based, awarded on a
50:50 matching basis up to $20,000.
Development Incentive Grant: Covers
substantial rehabilitation of older
buildings and new infill development
within a specific downtown area. The tax
rebate incentive is available over 5 years
, representing a percentage of the
difference of the parcel's (s') improved
assessed value and previous,
unimproved assessed value. The
incentive grants are given with a
formula as follows: Year 1: 100%, Year 2:
80%, year 3: 60%, Year 4: 40% and yer 5:
20%.
Roxboro Up to $2000 for a single facade.
requires at least a 1:1 match, can
include improvements on the side
of a builiding and includes sign and
awning replacement. If a structure
has more than 1 façade, up to
$4000. Funded through RDG
budget and proceeds from Alive
after Five.
Revolving Loan Fund: From $5K to
$30K, no longer than 60 month
term, fixed rate for the life of the
loan. Interest rate determined at
the time of application approval
and are based on predetermined
criteria. Covers renovation or
remodeling of commercial buildings
in the City of Roxboro or
landscaping improvements or
buffer zones. Funded through City
economic development and
revitalization funds.
Mural Grant: up to $500 at a
1:1 match. Funded through
RDG budget and proceeds from
Alive after Five.
Rutherfordton
Currently suspended-usually up to
$1000, at a 1:1 match. Will do the
side of a building sometimes
depending on what needs to be
done.
Salisbury
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Sanford
incentives for exterior
improvements and life & safety
interior improvements for non-
residential buildings, 1:1 match
with awards up to $5K
Architectural Design Services Grant
available to encourage good design that
meets current building code long before a
project begins. It can either be used to
capitalize on the rehabilitation of existing
properties and/or the introduction of
new building design that is appropriate to
the historic character of Downtown
Sanford. Grants must be matched with
private dollars at least on a 1:1 basis, with
the maximum grant eligible for each
applicant $2500.
Selma
Selma Commercial Redevelopment
District (SCRD). Town freezes the tax
value on improvements of properties
within the district for five years including
new construction,
redevelopment/rehabilitation of existing
properties
ShelbyFaçade Improvement Grant: 1:1
match. Will pay 50% of allowable
costs up to a total of $2,500 from
our funds, approval subject to
design review and application to
design committee. Funded
primarily through MSD funds, City
Grant in Aid and other funds
raised by USA, Inc.
Incentive For Growth: New
business incentive with monthly
payment of between $50 and
$200 to new businesses for 12
months, based upon application
and business plan with financial
projections. Varying amount
reflects location and type of
business—retail at key street level
site would push the $200 level,
service business on second story
would fall back to a lower level.
Funded primarily through MSD
funds, City Grant in Aid and other
funds raised by USA, Inc.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Smithfield
Façade grant program. Standard
1:1 match.
Retail & Restaurant Rental Upfit
Subsidy Help (R2RUSH): The Rent
Subsidy is available to qualified retail
or restaurant businesses locating in
designated DT locations would be
eligible for: Up to $2.00 per sq. ft.
leased/purchased for retail use for a
12 mo. period; or up to $4.00 per sq.
ft. leased/purchased for restaurant
use for a 12 mo. period. From MSD
Funds. The Upfit
Assistance is available to qualified
retail or restaurant businesses
locating in designated DT locations
would be eligible for: Up to $1.50 per
sq. ft. leased/purchased for retail use
for a 12 mo. period; or up to $3.00 per
sq. ft. leased/purchased for
restaurant use for a 12 mo. period.
Property owners will be required to
accept Restrictive Covenants on their
properties requiring the lease rate
offered to the restaurant/retail
tenant and the use of the space for
retail/restaurant to be maintained for
3 yrs.
Downtown Residential Incentive Fund
(DRIF)-Is a catalyst for residential
development in the DT area. Loan
guarantee that would become a grant if
used to cover the construction interest
for new DT dwelling units after
completion until the time of sale or lease,
up to one year. Projects would qualify
for grants of up to $5000 per unit or 4%
of the construction loan, times the
number of units in the development.
From MSD funds.
Smithfield Historic Area Revitalization
Plan (S.H.A.R.P.) encourages the
rehabilitation of older buildings and/or
promotes infill growth with new
commercial development in DT
Smithfield Municipal Service/Historic
District. The Developer pays full amount
of newly appraised tax value of property
annually and Johnston County,
Smithfield, and Downtown Smithfield
Development Corporation “grants”
property owner of amount paid, minus
the original tax value payment before
the renovation/construction began. 5
yrs. is the proposed grant time period.
On 6th yr., developer will pay full
amount of the newly appraised tax value
of the property without grant. The
funds for the grant are received from the
tax collected annually
Southport
Sparta
Spruce Pine
Facade grant matched on a 1:1
basis up to $2,000. Funded
through Town budget
appropriation.
Statesville
Façade Incentive Grant Program:
Reimburses up to $2000 on a
façade improvement project with
a 1:1 match. Awnings are eligible
as long as signage is not incl. on
the awning and the maximum
award amount for a new awning is
35% of the lowest estimate and
25% for a replacement awning.
Sylva no incentive programs in place.
no incentive programs in place.
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Tarboro Funded through Town of Tarboro
general appropriation, up to
$2000 per façade on a 1:1 match,
reimbursement basis.
Valdese currently revising façade grant
program.
Wadesboro
Facade Grant Program: Small
grants (pays 1/3 of cost up to
$1000) to to promote storefront
renovation and restoration of
commercial buildings in Uptown
Wadesboro with the purpose of
encouraging good design projects
and workmanship, preserving
Uptown Wadesboro's unique
historic character and attracting
new businesses to Uptown
Wadesboro. Funded through
donations/sponsorships to UWI
Interior Renovation Grants are
issued for 100% of the actual
project cost with a maximum
$500.00 per project as determined
by the UWI Board of Directors and
are may only be used to finance
interior improvements. Generally
used for small improvements such
as painting interior for a new
tenant. Funded through
donations/sponsorships to UWI
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Wake Forest
The Façade Improvement Grant
Program is available to existing
business and/or building owners
that are located in the
Renaissance Area - Historic Core
zoning district as designated by
the town. Requires design
assistance from the Wake Forest
DRC Design and Appearance Task
Force and may require assistance
from historic design specialists.
Provides a 50% reimbursement up
to $7,500
for items such as lighting and
masonry, storefronts, windows
(when appropriate), and awnings.
Funded through MSD funds as
allocated by town-currently $15K
a year. Urgent Maintenance
Grants: Limited to urgently
needed maintenance on buildings
for items such as painting, repairs
to light fixtures, doors, cornices,
and other trim. Provides a 50%
reimbursement up to $750.
Property owners are limited
to one maintenance grant per
tenant.
Special Projects Grants: primarily for
economic development/recruitment to
fill a void in the downtown mix or to
encourage conversion of unused upper
story space to dwellings or offices.
Provides up to 50% reimbursement of
hard costs up to a maximum match of
$7,500. Support is limited to a maximum
of $15,000 over three years.
Decorative Lighting Program: From
Façade Improvement Grant funds,
WFRDC will provide 50% of the cost of
the Decoreative LED Lighting System
including installation expenses.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Warrenton
Warrenton Downtown Redevelopment
Incentive Grant: The objective of WDRIG
is to provide property owners and
individuals with an incentive for long-
term investment while improving of the
economic viability and appearance of
Warrenton’s Downtown District. Based
on the appraised tax value of site or
building is determined before any
construction begin and the appraised tax
value of site or building is determined
after construction is completed upon the
issuance of a certificate of occupancy.
Grant amount is the difference between
the pre-construction tax value and the
post-construction tax value as
determined by the Warren County Tax
Administrator. Owner pays full amount of
newly appraised tax value of property. e)
The Town of Warrenton provides grant
incentive to property owner with five (5)
concurrent tax years is the applicable
time period for grant incentive. Grant
disbursed as follows: Year 1 – 100%; Year
2 – 100%; Year 3 - 75%; Year 4 - 50%;
Year 5 – 25%.
Washington
Façade Improvement Grant
provides an economic incentive to
renovate store facades and
properties in the revitalization
program area; encourage good
design projects which capitalize on
the rehabilitation of existing
properties paired with the
introduction of compatible new
design and preserve the unique
character of downtown
Washington. Grants are given on
a basis of $1 reimbursement for
each $1 total owner/tenant
expenditure (100%) with a
maximum CITY participation of
$2,000.00 per facade project.
Administered and funded by the
city.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Waxhaw
Façade Improvement Program: is
a matching grant program of up to
50% of the cost of rehabilitation
funded by the Town of Waxhaw
each budget year to assist
downtown businessowners and
property owners in renovating the
exterior of their buildings.
Waynesville
West Jefferson
Reimbursement based- up to
$1,000 with required match.
Design must be pre-approved.
Funded through Town budget
appropriation.
Williamston
Facade Grant Program:
administered thru design
committee of Williamston
Downtown, INC (501c3). Funded
through Town appropriation
annually.
Investment Incentive Program: is
available to projects that locate in
downtown Williamston. A program for
large projects (above $100,000) that
eases the tax burden years 1 to 5 on
investment over initial tax valuation of
property. Through town budget.
Wilmington
Building Improvement Loan Fund:
To encourage the development of
commercial and residential uses in
the CBD, Loans are offered at fixed
interest rates of ¾ prime amortized
over 20-30 years. Each loan has a
five, seven, or ten year call. The
lower interest rates and longer
terms will reduce the owner's
monthly debt service and will
enable an owner to offer the units
for monthly rents affordable to
more people. This program
provides low-interest fixed loans at
¾ the prime rate amortized for a
term of up to twenty (20) years
with a balloon payment in five (5)
to ten (10) years.
Operating Financing Program; Loans for
inventory, furniture, fixtures (including
signage) and equipment are eligible for
this program; up to $2K for inventory
and up to $5K for furniture, fixtures and
equipment at ¾ prime interest rate.
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
Wilson Facade Matching Grant Program-
Awards of up to $10,000 dollars to
enhance building exteriors.
Requires a 50% match. $1,000
minimum project investment.
From MSD funds.
Downtown Loan Pool-$2 Million
Loan Pool available at prime to
point below prime for real estate
purchases, building renovations and
equipment purchase. Established
via a partnership between WDDC
and area banks.
Owner Occupied Building Grant-
can receive up to $8,400 to help
with the purchase price. Rent
Incentive Grant Awards-up to
$8,400 to attract pedestrian-
oriented businesses. Extensions
for both programs potentially
available. Both funded through
MSD.
Architectural Assistance Program: For
buildings w/in the MSD. All accepted
participants will receive design services
from one of the WDDC's architects with a
value of up to $1,000. The purpose of
the grant is to provide business and
commercial property owners' design
guidance when considering renovation a
building's facade. Funded through MSD.
Windsor
Façade Program: Will pay up to
$2,000 at a 1:2 (City paying $2 for
evey $1 spent). Includes roof
repair. Funded through town
budget appropriation.
Winston-Salem
Building Rehabilitation Program
(formerly Façade Improvement
Program): Deferred payment
loans up to $10,000 per
building. Loan repayment
deferred for 5 years. At the end
of 5 years, balance forgiven in
full if the property has been
maintained.
Restaurant
Development/Recruitment Loans:
Working with local banks, City of
Winston-Salem will be able to
provide a subordinated loan equal
to 37.5% of a project cost, up to
$150,000 per applicant subject to
the applicant and participating
lender providing 62.5% percent of
the project cost. Interest rates are 3-
5 percent; term up to 15 years.
Loan repayments deferred for 2
years. Program now closed but
great example.
Downtown Winston-Salem Foundation is
the Partnership's charitable arm. The
Foundation is a 501-c(3) nonprofit
organization is the home of the Meade
Willis Revolving Loan Fund, which
provides assistance to those wishing to
open a business downtown.
Statewide
NCDDA-for members of
NCDDA. NCDDA will provide
the necessary guidance to
establish/re-establish the
program – spending two days
in each town. NCDDA will
provide conceptual design
assistance for up to 3 buildings.
NCDDA will provide the
following financial assistance:
For Towns with no recent
history with a façade grant
program, NCDDA will grant
$3,500 to seed program with a
required match from the
Community of $1,500. For
Towns that may have a
program that has become non-
active for any reason, NCDDA
will grant $2,500 to seed
program with a required match
from the Community of $2,500.
A federal income tax credit for the
rehabilitation of historic structures first
appeared in 1976 and today consists of a
20% credit for the qualifying
rehabilitation of income-producing
historic properties. *
Since 1998 North Carolina has provided
a 20% state tax credit for those
taxpayers who receive the federal credit,
providing investors with a combined
40% credit against eligible project costs.
In addition, the state provides a 30%
credit for the rehabilitation of
nonincome-producing historic
properties, including private residences.
*
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
City Façade Grant Program
Revolving or Special
Loan Funds
Rental or Business
Assistance Program Signage Grants
Interior Rehabilitation
Grants Other Incentive Other Incentive
*The Restoration Branch of the State Historic Preservation Office reviews and provides technical assistance to all
preservation tax credit projects, both state and federal. For copies of tax credit applications and instructions, contact
either 919-807-6585 or 919-807-6574.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
Vision Incentives Program: Series
of financial programs designed to
assist developers in achieving
positive pro-forma on projects
such as new housing, retail and
office development. Funded
through City budget appropriation.
Marketing Assistance Grants 1.
Business Plan Development – The
Downtown Coord. may assist the
business w/ the development of a
proper business plan. Technical
Assistance, no funds provided. 2.
Building Signage – A 1:1 matching
grant up to $350 may be allocated for
the design or development of new or
additional building signage. 3.
Marketing Plan Development &
Implementation–The Downtown
Coord. may assist the business owner
w/ the development &
implementation of a marketing plan.
This may include logo development,
advertising, branding and/or website
design. A 1:1 matching grant up to
$1,000 per business may be used for
this program.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
Urban Revitalization Area Tax
Incentives: For larger commercial
or industrial projects located
within the Urban Revitalization
Area, additional tax incentives
may be available. Projects that
invest more that $500,000 and
create new employment are
eligible for a grant of up to 100%
of the net gain in property tax
revenue for up to 5 years.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
Meet Me Downtown: The goal of this
program is to jump-start retail and
restaurant recruitment for downtown
by assisting quality businesses
wishing to locate or relocate in
Downtown. The program is currently
designed to help with the marketing
and advertising of new businesses in
order to establish their presence in
downtown and brand Downtown
Monroe through a co-op marketing
and advertising program. This is a 50-
50 matching grant. New businesses
opening in downtown may apply for
up to 50% of the per business cost of
their current advertising and
marketing budget. Funded through
City budget appropriation.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
Roof Replacement Assistance
Program: The City of Rocky Mount
is making funds available to assist
with roof problems that endanger
the fabric/appearance of the
Downtown Revitalization Area.
Incentives will be awarded up to
$10,000 per project subject to the
availability of funding.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
Joint Effort Marketing Grant
(JEM) provides a matching
(reimbursement) grant up to 25%
of the total cost of approved
projects up to $500 but no less
than $50 for advertising and
marketing, new events, existing
events, and promotions.
no incentive programs in place.
no incentive programs in place.
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
no incentive programs in place.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
State Mill Rehabilitation Tax
Credits. The "mills bill" (G.S. 105 -
229.70-75), prompted by the
closure of many textile, tobacco,
and furniture plants during the
past decade, provides even
greater state tax incentives for the
rehabilitation of qualifying former
industrial sites. These credits vary
depending on the economic
development tier of the county,
and are available in lieu of (not in
addition to) the standard state
rehabilitation tax credits. *
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900
Redevelopment Incentives for Downtown Including MS, STMS and Other NC Communities
Other Incentive
*The Restoration Branch of the State Historic Preservation Office reviews and provides technical assistance to all
preservation tax credit projects, both state and federal. For copies of tax credit applications and instructions, contact
either 919-807-6585 or 919-807-6574.
1/23/2015
For more information
Contact
NC Main Street Center
919.571.4900