The purpose behind the Rural Zone designation is to assist in the revitalization of our community by incentivizing new businesses to open in Downtown Moultrie.
Rehabilitation Tax Credit
*Equivalent to 30% of qualified rehabilitation costs not to exceed $150,000.
*Credit should be prorated equally in three installments over three taxable years.
*Must create a minimum of two full-time equivalent jobs.
Job Tax Credits
*Must create two full-time equivalent jobs.
*$2,000 credit per new full-time equivalent job – not to exceed $40,000 credit per year.
*Eligible businesses include professional services or retail.
*Credit can be taken for five years as long as jobs are maintained.
Investment Tax Credit
*This credit is for purchasing property downtown within the Rural Revitalization Zone.
Equivalent to 25% of the purchase price not to exceed $125,000.
*To claim this tax credit, the investment property must be within the designated Rural Revitalization Zone and create two full-time equivalent jobs.
*Credit can be claimed over five years.
Main Street Facade Grant
The Main Street program offers and administers facade grant assistance for renovations to structures located within the downtown commercial historic district. Monies available are for exterior improvements only, and may be applied to a front, side or rear facade, provided the facade faces a public street or parking lot. Applications are available in the Main Street Office.
Georgia Cities Foundation Revolving Loan Fund
The Downtown Development Authority facilitates the application process to businesses located in the downtown business district wanting to apply for a low-interest loan that is sponsored by The Georgia Cities Foundation. The Foundation’s purpose is to assist cities in their efforts to revitalize and enhance downtown areas by serving as a partner and facilitator in funding capital projects in the form of a revolving loan fund. The loan provides up to $250,000. The repayment period is normally 10 years, not to exceed 15 years. Eligible projects include real estate acquisition, building rehabilitation, new construction, and green space and parks. The foundation was established in 1999 as a non-profit subsidiary of the Georgia Municipal Association. Applications are available at the Main Street office.
Georgia Department of Community Affairs Downtown Development Revolving Loan Fund (DDRLF)
The Downtown Development Authority facilitates the application process to businesses located in the downtown business district wanting to apply for 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). The loan amount limits will generally be set at no more than $250,000 per project. The repayment period is typically 10 years with a 15-year amortization. Applications are available at the Main Street office.