The Burgaw Board of Commissioners voted unanimously Tuesday night to approve an incentive plan for private business owners interested in starting up in the downtown Burgaw area.
It's also known as creating a "Business Improvement District."
"The incentives would be geared toward those looking to re-purpose buildings into living spaces, primarily the second story, as well as people interested in opening restaurants," said Town Manager Chad McEwen.
"People keep telling us we want more restaurants, we want more restaurants. Problem is, the impact fees can be a heavy burden."
The town money would cover the impact fees, (a portion or the entire bill -- it's a case by case basis,) which have proven to be an issue for people interested in starting business downtown.
For example, a 50-seat restaurant can cost a business owner tens of thousands of dollars in impact fees.
The money would come from the town's water/sewer fund.
"I think it will encourage apartments in the downtown," said Mayor Eugene Mulligan. "It helps us preserve the history of the town by encouraging the maintenance of these buildings."
The plan will go into effect July 1, 2014.
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