Mixed-use Development Incentives Grant Program

MuDI-Mixed-use Development Incentive Grant Program

MuDI Grant Program Checklist

 
 

The following items must be put forward in order for City of Monroe to make an appropriate decision on an application.

Incentive funds are not “as of right”, that is, they are not automatically provided to eligible retail or restaurant businesses which purchase or lease eligible properties. Applications are required and they are reviewed on a case-by-case basis by City of Monroe.

 

o   Complete Application-Any incomplete application submitted will not be considered

o   The MuDI Grant Program for Downtown Monroe assist with the renovation and rehabilitation of commercial and Residential Properties within the Central Business District (CBD)/Municipal Service District (MSD)o   The rehabilitation project size must be a multi-building project consisting of a minimum of 25,000 square feet. The total rehabilitation expense must exceed a value of two (2) times the amount of the grant and be completed within a 24-month period from the date construction begins. Each building within the project would be allowed a two year construction period after State Historic Preservation Office (SHPO) and National Park Service (NPS) approvalo   Grant monies will be paid at the completion of each phase of the project in equal payments over a seven (7) year period.

o     The grant portion of the project must be for the exterior and interior renovation of existing buildings only

o   The proposed project must meet all applicable zoning requirements

o   All required permits (i.e. zoning, building, etc) must have been obtained prior to payment

o   The proposed project follows the guidelines for renovation and rehabilitation of historic structures or structures within historic districts as outlined herein.

o   Examples of Eligible Project include: Mixed use: Retail/restaurant storefront; office/commercial, upper floor; residential upper floor

o   The Secretary of the Interior’s Standards for Rehabilitation and the Supplementary Requirements for Development in the Central Business District [City of Monroe Code of Ordinances Title XV, Chapter 156.054] will be used as guidelines for awarding project reimbursements

o   Rehabilitation of a structure in the Central Business District should be considered a contemporary solution, which respects the architectural and historical integrity of the entire building while retaining those elements that enhance the building

o   All rehabilitation design proposals must meet with the code requirements of the City of Monroe

o   Upon completion, the improvements will be inspected and approved by City staff for determination of compliance as submitted in the application

o   The property owner submits a completed application, existing photographs and conceptual drawings to Downtown Monroe, City of Monroe. The package must be complete in order to qualify for funding

o   Once Downtown Monroe, City of Monroe reviews the project, the applicant will be notified of City staff’s recommendation regarding the application. Monroe City Council must approve all MuDI’s following a public hearing

o   This is a grant program. Grant monies can be paid upon completion of the project as certified by Downtown Monroe, City of Monroe that the work completed substantially conforms to the preapproved plans and the project is eligible for the grant payments

o   Taxpaying entities that own an eligible structure(s) located within the CBD/MSD of Downtown Monroe may apply for the grant

o   Approval of applications must occur prior to the commencement of any work

o   Grant applications shall be reviewed by City staff, Finance Committee and City Council for approval

 

 Follow the link to download the full MuDI application.

Remember that any submission of an incomplete application will not be considered. 


 



for visitors

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for residents

Don't Forget about your Downtown!  Shop Locally to help fuel your local economy  to improve your neighborhoods and your local shopping venues.

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for business'

The North Carolina Capital Access Program (NC-CAP) will work with banks and other eligible financial institutions to create capital opportunities for entrepreneurs who might not otherwise qualify for financing.

Business Link North Carolina also provides an access point to services and other offerings provided by state-supported agencies.
 
Please take advantage of these opportunities if you are looking to start a business.
 
The City of Monroe also has incentives that we offer to qualifying business owners. 
Please research our site to see if you qualify.

 

for investors

Looking  for investment opportunity?  Downtown Monroe has an array of beautiful Historic Buildings for sale and/or lease.  Take a look at some of the properties that we have listed, and call for incentive questions TODAY!