Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
High Point reviews expired targeted-investment incentive policy; staff reports $2.42M in grants produced roughly $5.1M pledged investment
Summary
High Point development staff on Tuesday reviewed the city’s Targeted Investment Areas Incentive Policy, reported seven recent downtown recipients and said the policy expired June 30 with two pending applications.
High Point development staff on Tuesday reviewed the city’s Targeted Investment Areas Incentive Policy and reported results from the program’s most recent cycle while answering council questions about next steps after the policy expired June 30.
“At no time would staff propose to council an incentive award that does not pay itself back over at maximum a 7 year period of time,” Peter Bishop, the city’s development director, told the council. Bishop described how staff evaluates applications, verifies job creation and capital investment, and structures performance-based grants with clawback provisions.
Bishop said a version of the incentive program has been in effect in various forms since about 2015 and was expanded in 2020 to include rental reimbursement, job-creation incentives and building renovation grants aimed at supporting downtown redevelopment and, beginning in 2023, the West Green Drive area. Eligibility typically required at least a 25%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
