The Downtown Salisbury Revitalization Incentives Program (“Downtown Revitalization Incentive Grant”) was established by City Council in 2014 to promote economic growth within the Downtown Municipal District. Funding for the program is currently unavailable until later notice.
The incentives are designed to promote both new development and historic rehabilitation, with an emphasis on those projects that create new residential opportunities. The program is a package of four (4) grants, any or all of which may be utilized by a developer depending on the nature and scope of the project for which assistance is being requested:
- Building Renovation Incentive Grant covers 25% of eligible costs (up to $50,000) for the stabilization and preservation of older, primarily historic properties.
- Residential Production Incentive Grant offers $7,500 per residential unit created or upgraded (where project costs exceed $35/gross sf2) to promote downtown residences.
- Residential Utilities Incentive Grant covers 50% of eligible costs (up to $25,000) for the installation or upgrade of water utilities where project costs exceed $5,000.
- Fire Suppression Grant covers 50% of fire line costs or $2/sf2 (up to $25,000) for sprinkler system installation.