Preservation and Rehabilitation

Facade Grant

The facade program aims to improve the image of downtown by focusing on paint and providing business and property owners additional benefits that can lower renovation costs. Business and property owners in downtown Griffin can apply for a maximum $500 cash reimbursement for paint materials.  Click here to find out more about the Fresh Paint Initiative. 

For more information, contact the DDA at 770.233.2901.

 

Federal Historic Preservation Tax Incentive

The Federal Historic Preservation Tax Incentives program encourages private sector investment in the rehabilitation and re-use of historic buildings. It creates jobs and is one of the nation's most successful and cost-effective community revitalization programs. It has leveraged over $62 billion in private investment to preserve 38,000 historic properties since 1976.

For more information, click here.

 

Georgia Department of Community Affairs Downtown Development Resolving Loan Fund – DD RLF

DDA administers a loan pool that is sponsored by the Department of Community Affairs (DCA). DCA’s purpose is to assist cities, counties, and development authorities in their efforts to revitalize and enhance downtown areas by providing financial assistance at below market rates in the form of a revolving loan fund (RLF). Loans are generally capped at no more than $250,000 per project. The average repayment period is 10 years with a 15 year amortization.

For more information, please review DD RLF Brochure , visit the state website , or contact our office at 770-233-2901.

 

State Preferential Property Tax Assessment for Rehabilitated Historic Property

Freezes the county property tax assessment for over 8 years . Available for personal residences as well as income producing properties. Owner must increase the fair market value of the building by 50 – 100%, depending on its new use.

For more information, visit the state website or contact the state tax incentive specialist at 404.651.5567.

 

 

State Income Tax Credit for Rehabilitated Historic Property

Rehabilitated historic properties can receive a state income tax credit of 25% of rehabilitation expenses. The credit is capped at $100,000 for personal residences and $300,000 for income-producing properties. This program’s percentages and caps are effective for projects completed after January 1, 2009.

For more information, visit the state website or contact the state tax incentive specialist at 404.651.5567.

 

Watch video about the tax incentives available for historic rehabilitation in Georgia .