Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Princeton commissioners discuss business-incentive packet, Duke Energy grant and downtown revitalization
Summary
Consultant Chris Marion urged a proactive business-incentive package and outreach to attract businesses to Princeton’s downtown. Commissioners discussed existing façade and incentive grants, a $15,000 Duke Energy award administered by the Triangle East Chamber, and a newly announced $45,000 rural economic development grant.
Chris Marion presented a proposal for a structured new-business incentive program and urged the town to proactively promote existing grants and available downtown properties.
Marion said Princeton currently offers two small business programs: a $1,000 façade grant and a $25,100 business incentive grant funded from a town money market set up circa 2018. “The grants we have now — I'm wondering how do we promote them? They're on our website, but I mean, who's going there?” Marion said. He recommended creating a one-page incentive packet with items such as reduced permitting fees, tax reductions and tap-fee relief to make Princeton competitive with nearby towns that have marketed similar packages.
Marion told the board he counted roughly eight vacant or improperly used downtown buildings and described enforcement and rental-price issues that deter businesses. “Some of the property owners […] wouldn't or they didn't care to” rehabilitate space, Marion said, urging more active code enforcement and outreach to owners and prospective tenants.
During discussion the board confirmed a Duke Energy downtown business incentive award administered by the Triangle East Chamber: $15,000 earmarked for façade and interior/signage improvements, likely at $1,000 per business unless the chamber adjusts the allocation. A commissioner said the grant must be spent by Aug. 31 and asked staff to advertise and do direct outreach to downtown proprietors.
Town staff also reported the town received a $45,000 Rural Community Development (RC2/Department of Commerce) grant. Staff described the intended uses as about $30,000 for a parks-and-recreation master plan and $15,000 for two new entrance signs, but said the grantor is open to reallocating amounts after the town secures quotes.
Commissioners agreed to develop a small package and regular agenda follow-up. One commissioner offered to regroup with Marion and staff to assemble a draft incentive packet and concrete recommendations for future meetings.
