Incentives
Are you thinking about starting or expanding your business? Are you considering downtown Rocky Mount as a potential location? We’d love to talk to you about your ideas to see how we can help. Whether you’re looking for available office or retail space, financial resources, assistance with your business plan; or have questions regarding permits, zoning or codes, we have the information available to help you succeed in downtown!
Residential Production Grant Program
The Residential Production Grant Program is intended to fund the development of residential housing within downtown. The incentive amount is $7,500 per residential unit created up to a maximum of $150,000.
-
Eligible projects may include new construction, building rehabilitation or adaptive reuse.
-
Project must result in the creation of residential units not previously available for occupancy.
-
Renovations must be substantial to the extent that the completed units are of a finished quality and ready for occupancy.
-
All new or renovated units must be consistent with the overall quality standards.
-
Eligible projects will include residential as part of mixed-use development or commercial property converted for residential as single use.
Downloads
Downtown Building Assistance Program
The Downtown Building Assistance Program is a 50% matching grant up to $20,000. This incentive is intended to fund interior and exterior downtown building improvements.
-
Can fund building improvements, fixtures, affixed furniture and equipment, signage
-
Must conform to Historic Preservation Design Guidelines if within HPC district
-
One grant per property within 5 years
-
Property must qualify for Certificate of Occupancy at completion of project
-
Property must be located within the Downtown Transitional area (Grand, Grace, Raleigh, Atlantic, Lexington)
-
Any commercial or mixed-use property
Downloads
Accelerated Façade Improvement Grant
AFIG is a $5,000 non-matching grant, to stimulate downtown recovery and revitalization activity, designed for expedited access.
-
Eligible properties must be located within the Downtown Core (Within boundary of Franklin St., Goldleaf St., Atlantic Ave., Raleigh Blvd.)
-
Allowable uses will include (but not limited to): brick or wall surface cleaning, patching and painting of façade walls, signage or lighting, canopy, awning installation/repair, window and/or door replacement/repair, mortar joint repair, railings and ironwork repair or addition, cornice repair and/or replacement, replacement/repair to exterior steps
-
One-Page Application (with required documentation)
-
Must meet any historic preservation requirement
-
Reimbursement with proof of payment and final inspection
Downloads
Development Incentive Grant
The Development Incentive Grant is a rebate of increased property taxes, reimbursed annually over five years (100% year 1, 80% year 2, 60% year 3, 40% year 4, 20% year 5) for city, county, and MSD (Municipal Services District) taxes.
-
Must be substantial rehabilitation, defined as: $40 per sq ft., At least one floor habitable, Investment equal triple pre-improvement tax value
-
No dollar maximum
-
Rebate is determined by property tax value after improvements (minus) the original pre-improved tax value
-
Property must be located within the boundaries of the Downtown Overlay District (DIG Area) (Goldleaf, Church, Hammond, Atlantic)
-
Any residential, commercial, mixed-use property
-
Construction must be completed and CO received within 24 months
Downloads
Roof Repair & Replacement Grant
Funds the replacement or repair of roofing systems. The grant will reimburse 50% of roof repair cost up to a maximum of $10,000.
-
Includes entire roofing system including gutter and drainage systems
-
Repair must be permitted and pass final inspection
-
Eligible properties must be located within the Downtown Core (Within boundary of Franklin St., Goldleaf St., Atlantic Ave., Raleigh Blvd.)
-
Any commercial or mixed-use property
-
One grant per property within 5 years
Downloads
Downtown Investor Guide
The Downtown Investor Guide provides market information about the city as a whole, and provides insight about why new businesses prosper in downtown Rocky Mount.
Available Properties
Now that you know that Rocky Mount is the place for you and your business, please check out the available properties downtown to find the perfect location for you and your business.
Historic Tax Credits
Historic Tax Credits are an excellent way to alleviate the burden of renovation costs to historic buildings, and downtown is a prime place to put these resources to work for you!
