Economic Incentives

Economic Incentives

  • Reduced Permit Fees – 50% for County and City
  • Sales Tax Rebate – 100% of tax on building materials with Certificate of Eligibility
  • Property Tax Abatement – 5 years; typically for new construction (not for properties within a TIF)
  • Existing Funds
  • Developer Financed
  • Eligible Expenses
  • Investment of Capital Gains
  • Deferral of tax to 2026 / Reduction of liability / Elimination of tax on any further liability (10 year investment)
  • Must be designated contributing property
  • Preserve architectural features
  • Tax Credit available for 40% of project costs (federal) & 25% of project costs (state)
  • Non-bank loans from Community Development Entities (CDEs) to Qualified Active Low-Income Businesses (QALIBs)
  • Available income tax credit for 39% of investment
  • More Information