Downtown Reinvestment Incentive Grant (DRIG)

Purpose

The purpose of this incentive policy is to encourage and promote infill growth with new commercial development and the major rehabilitation of older buildings within Pilot Mountain’s downtown commercial district.

The objective of PMDRIG is to provide an incentive to property owners and individuals for the purpose of improving the economic viability and appearance of Pilot Mountain’s Downtown District and to stimulate long-term investment in Pilot Mountain.

Fast Facts:

· This program offers a cash grant equal to a percentage of the property taxes paid on any new investment in downtown Pilot Mountain.

· Grant disbursement formula: Year 1 – 100%  Year 2 – 100%  Year 3 -  75%  Year 4 -  50%   Year 5 -  25%

· Structures must meet state and local building codes as approved by the local building inspector

· Eligible Properties must be located within the Pilot Mountain Downtown Development District

· Incentive shall be for new construction and renovation that is consistent with the character of the downtown district;  

Click here for the application