Show/Hide

Public Notice: COVID-19 Response  The Town of Nashville  Town Hall and all other Town of Nashville Facilities are currently closed to the public. Please call 252-459-4511 for information regarding all Town services or  continue to check our website for additional updates.

Downtown Incentive Grant (DIG)

Print
Press Enter to show all options, press Tab go to next option

The purpose of the Downtown Nashville Development Incentive Grant (DIG) is to encourage reinvestment in Downtown Nashville. The program covers substantial rehabilitation[1] of older buildings and new infill development. The initiative covers the shaded area on the attached map, which is roughly bounded by Church Street, Barnes Street, Alston Street, and West Washington Street. Incentive grants are given yearly for five (5) years.

The grant is available over five years, representing a percentage of the difference of the parcel’s improved assessed value and previous, unimproved assessed value.  The Development Incentive Grant (DIG) amount per year will be a percentage of this formula as follows: Year 1: 100%, Year 2: 80%, Year 3: 60%, Year 4: 40% and Year 5: 20%.  Since the tax rate and/or property valuation may change during the five-year grant period, the base grant amount will be recalculated each year.  The percentage of the base grant amount, which steps down from 100% to 20%, is fixed.

For more information about the Town of Nashville's Downtown Incentive Grant (DIG), click here

[1] Substantial rehabilitation is defined as a rehabilitation that will cost at minimum $40 per square foot, make habitable/usable at least one floor of the building and at least triple the predevelopment tax value.