GOAL 2: Refine Regulatory Framework
ACTION 2E : Identify, Adopt System of Incentives
LEAD And TEAM: City, MDC CiC

STARTUP: Second Quarter
ACTION TYPE: One-Time Project
RESOURCE CATEGORY: 7

There are a variety of logical, economically attractive development incentives available to the MDC team. These need to be clarified, tested for local appropriateness and adopted as a comprehensive system. Once adopted, they need to be actively promoted in concert with the Marketing Strategy and Downtown Master Plan.

Examples of major incentives include:

• Tax Increment Financing assistance for property development
• Historic Preservation Tax Credits, available for four types of buildings:
  • National Register of Historic Places status
  • State Register of Historic Places status
  • Official documentation that a building qualifies for placement on either of the two Registers above
  • Location within an Historic District, as designated by the State Historic Preservation Office
• Access to revolving loan funds or pools to support desirable development (for example, through Sage)

Other incentives are available. City staff and MDC should meet with Sage, Idaho Department of Commerce and Idaho Small Business Development Center to identify and pursue them. It would be useful to organize and conduct a workshop on development incentives, perhaps facilitated by Sage.

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