Building Reuse
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Returning vacant properties to productive useBuilding Reuse and Restoration Grants ProgramThe Building Reuse and Restoration Grants Program assists communities in putting vacant properties back to work. The grants match other public and private funding to repair and renovate properties — from storefronts to factories — for use by new and expanding businesses. The businesses in turn create jobs, add to the tax base and restore hope in struggling communities. Next application deadline: September 3, 2010 Go to application and reporting forms Frequently asked questionsWhat do the grants cover?May I apply? Does my project qualify? Are there restrictions on the types of jobs that will be created? Does a building only partially occupied qualify as vacant? Are housing projects eligible? May a grant be applied retroactively? How much money can my project get? Who decides whether my project gets a grant? What if my project doesn't live up to expectations? How do I apply? Is there a deadline for applications? And when will we hear back? What do the grants cover? The program offers development grants of up to $480,000 (or $240,000, depending on location) to projects ready to begin renovation.
May I apply? Eligible applicants are units of local government located
Return to top of page Does my project qualify? At a minimum, qualifying projects must
Return to top of page Are there restrictions on the types the jobs that can be created by a project? The jobs may be in the private (industrial, commercial or service) or nonprofit sector. Each job must be filled with one employee working at least 35 hours a week and paid at least minimum wage. Jobs that carry benefits will receive priority consideration. Return to top of page Does a building only partially occupied qualify as vacant? No. Return to top of page Are housing projects eligible? Maybe. Building reuse grants do not fund housing-only projects. On the other hand, mixed-use or adaptive projects that include housing may be eligible if one or more businesses that produce jobs also are located in the building. Return to top of page May a grant be applied retroactively? We're already working on a reuse project. No. Return to top of page How much money can my project get? The maximum for any development grant is $480,000 for projects in Tier 1 or Tier 2 counties. The amount for any particular development grant depends on the location of the building, how many jobs will be created, the cost of the renovation project and the type of business involved. Development grants require that at least one job be created for each $8,000 in grant funding. Businesses with certain NAICS/SIC codes may be eligible for $12,000 for each job being created. In Tier 3 counties, the maximum award is $240,000, or $8,000 for each job created.
Return to top of page Who decides whether my project receives a grant? The Rural Center Board of Directors makes all grant decisions. Return to top of page What if my project doesn't live up to expectations? If the project fails to meet job creation goals, you will have to return a proportional share of the grant. Return to top of page How do I apply? You must first schedule a pre-application conference.
To apply for a development grant:
Is there a deadline for applications? And when will we hear back? Applications are accepted throughout the year. Grant decisions are made during regularly scheduled board meetings. For consideration at specific board meetings, the effective deadlines are listed below with their award dates. The Rural Center must receive the completed application by 5 p.m. on the date listed for consideration.
ContactThis e-mail address is being protected from spambots. You need JavaScript enabled to view it Director, Building Reuse and Restoration Grants Program N.C. Rural Economic Development Center 4021 Carya Drive Raleigh, NC 27610 Telephone: 919-250-4314 Fax: 919-250-4325
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