Development

We have many resources available for starting or growing your business downtown. Our office is pleased to serve you in any way that will help the downtown economic environment continue to thrive. Please call or email if you have any questions, 770-266-5331. Another great resource for business development is the UGA’s Small Business Development Center, which serves businesses in our city.

Downtown Dollars

We sell and promote "Downtown Dollars" as gift certificates to potential downtown customers. These are redeemable for merchandise/services in our downtown boundaries. The DDA will fully reimburse any business that accepts downtown dollars as payment. Simply turn in the Downtown Dollars to the Monroe Downtown Office at City Hall. If you are a local business and would like to sell Downtown Dollars at your location, please contact us.

Facade Grants

The Downtown Facade Grant Program is a competitive program to assist with exterior improvements made to downtown buildings. Any business owner or property owner within the Downtown District (aka the DDA Boundaries) are eligible to apply for the grant in order to receive matching funds for facade improvement expenses. The funds are issued on a first-come, first served basis. Additionally, any downtown business applying for the facade grant is eligible for a 25% discount on paint from the Monroe Sherwin Williams store. For more information or to apply, download the Facade Grant Application.

Design Assistance

Façade and renovation design assistance can be a major help in creating meaningful spaces. Our office will happily assist you in setting up a professional design consultation and help in any way we can with our past experience on projects.

downtown development revolving loan Funds

There are 2 sources for revolving loan funds through the Monroe DDA. These loans provide below-market rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods in order to spur commercial redevelopment. Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds. Once approved, funds may be used for such activities as: real estate acquisition, development, redevelopment, and new construction; rehabilitation of public and private infrastructure and facilities; purchase of equipment and other assets (on a limited basis). The maximum loan is $250,000 per project. Applications will be accepted throughout the year and as loan funds are available. Here is more information for each of these revolving loan programs:

Historic Preservation Incentive Programs

Properties in the designated Monroe Historic Districts and properties potentially eligible for listing in the National Register of Historic Places may be eligible to participate in state and federal historic preservation incentive programs. Property owners who carry out a substantial rehabilitation of a historic property must meet the Secretary of the Interior's Standards for Rehabilitation for both exterior and interior work on the historic property. These programs are administered by the Georgia Historic Preservation Division.

Federal Rehabilitation Investment Tax Credit (RITC) - A federal income tax credit equal to 20 percent of the project's qualified rehabilitation expenses available ONLY for income-producing properties. All properties must be listed in, or eligible for, the National Register of Historic Places, either individually or as part of a National Register Historic District. Project work must meet the Secretary of the Interior’s Standards for Rehabilitation.The application is first reviewed by the Historic Preservation Division (HPD), then forwarded to the National Park Service for review and approval. This program is available nationwide.
Charitable Contribution Deduction - The charitable contribution deduction is taken in the form of a conservation easement, and enables the owner of a “certified historic structure” to receive a one-time tax deduction. A conservation easement ensures the preservation of a building’s facade by restricting the right to alter its appearance. Qualified professionals should be consulted on the matters of easement valuations and the tax consequences of their donation. To be eligible for the charitable contribution deduction, a property must be listed in the National Register of Historic Places, either individually or as a contributing building within a historic district. If located in a National Register Historic District, a Part 1 must be submitted to HPD for review and certification by NPS
State Preferential Property Tax Assessment for Rehabilitated Historic Property – Freezes the county property tax assessment for more than 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.
State Income Tax Credit for Rehabilitated Historic Property – The Georgia State Income Tax Credit Program for Rehabilitated Historic Property allows eligible participants to apply for a state income tax credit equaling 25 percent of qualifying rehabilitation expenses capped at $100,000 for a personal residence, and $300,000, $5 million or $10 million for all other properties.