Funding Opportunities
ARC Grant - "The Appalachian Regional Commission (ARC) is a unique federal-state partnership providing social and economic support for a 13-state region stretching along the Appalachian Mountains from southern New York to northern Mississippi."
Building Reuse Grants - Develop older buildings in your community into assets to attract new or expanding businesses with the state's Building Reuse Program. This program provides grants to local governments, using three categories of funding for:
- The renovation of vacant buildings
- The renovation or expansion of a building occupied by an existing North Carolina company wishing to expand in their current location
- The renovation, expansion or construction of health care entities that will lead to the creation of new, full-time jobs.
CDBG Small Business Loan Program - "The City of Morganton Community Development Block Grant (CDBG) Small Business Loan Program (SBLP) is a competitive program offering both startup or expansion companies an opportunity within the City Limits of Morganton to obtain loan funds up to $75,000 upon approval and in compliance with CDBG criteria. All businesses requesting funds between $5,000 and $30,000 must create at least one new job that meets the HUD income criteria. All businesses requesting greater than $30,000 must be able to create a minimum of 10 new full time job positions within 1 year of funding. 51% of those jobs must be filled by individuals who fall within HUD Low to Moderate Income and Household Income criteria."
Historic Preservation Tax Credits - "Federal and state rehabilitation tax credits provide jobs, bolster the tax base, and revitalize existing buildings and infrastructure, while preserving the state’s priceless historic character. These programs, administered by our office, the State Historic Preservation Office, in conjunction with the National Park Service, encourage the conservation of North Carolina’s historic resources. Owners and developers may potentially receive a 20% federal income tax credit and a 15-25% state income tax credit for certified rehabilitations of income-producing historic structures."
Vibrancy Grants (Local) - Please contact the Morganton Main Street Office for more information and application(s). Note that Vibrancy Grants are only eligible if projects follow the Secretary of Interior's Standards for Rehabilitation
- Up to $500 in matching grants per facade for painting and or maintenance
- Up to $500 in matching grants per sign, for new & unique signs
- Up to $1000 in matching funds for outdoor fixtures (such as seating packages) that enhance the pedestrian experience
- Up to $2000 in matching grants per public facade for renovations
- Up to $5000 in matching grants per public facade for major renovations (over $30000) incurring a significant rehabilitation of the facade
- Awnings (5% interest) Loan
