Homerville | Development Incentives

When it comes business and growing there’s no place like

comes to starting a growing your dreams, like Homerville.

Homerville

The Homerville Downtown Development Authority (DDA) and Homerville Main Street Program welcome you to our city. We are excited to help entrepreneurs grow their businesses and achieve their highest potential in our community. With a strong local identity, high quality of life, a vibrant manufacturing sector, and unique resources for industry and other businesses, downtown Homerville offers an ideal location to grow a business and raise a family. Our warm and inviting small town atmosphere, talented workforce, location as gateway to the Okefenokee Swamp, historic downtown, and scenic rural setting are just a few reasons to consider our community for your business.

Homerville combines the resources and tools of the DDA and Main Street program to support downtown businesses and grow the local economy. These programs exist to create, implement, and evaluate a systematic plan of work specifically

designed to stimulate and sustain downtown economic growth and viability. The DDA and Main Street also protect and preserve our historic resources and character, and work to enhance the overall quality of life for the citizens of Homerville.

We are excited that you are interested in Downtown Homerville, and we hope to be of assistance. The Homerville DDA and Main Street Program offer a variety of tools and contacts which you may find useful when considering opening or expanding a business. Please let us know if you are seeking information that you do not find on our website— we likely have it or know how to help you find it.

The Homerville DDA and Main Street Program are happy to guide prospective business owners through any local requirements to help expedite finding a location and opening your business. We welcome you to our community and hope to be of service as you grow your business in Homerville.

When it comes to starting a business and growing your dreams, there’s no place like Homerville.

The Homerville DDA and Main Street Program are happy to guide prospective business owners through any local requirements to help expedite finding a location and opening your business.

Homerville combines the resources and tools of the DDA and Main Street program to support downtown businesses and grow the local economy.

Quality of Life

The unmatched lifestyle advantages of Homerville, Georgia include an outstanding education system, convenient local hospital and healthcare offerings, a thriving industrial base, abundant outdoor recreation opportunities, and strong local support. A warm climate, progressive leadership, and our friendly, down-to-earth community members put the “home” in Homerville.

MAJOR ROUTES AND DESTINATIONS NEAR HOMERVILLE:

• Located at the intersection of Hwy 441 and Hwy 84

• I-75 – 40 minutes

• I-95 – 84 minutes

• Jekyll Island, Georgia – 1 hour 45 minutes

• Valdosta, Georgia - 35 miles

• Waycross, Georgia – 25 miles

• Jacksonville, Florida – 100 miles

• Savannah, Georgia – 150 miles

Downtown Homerville offers an aggressive package of incentives for business relocation or expansion. These tools exist to encourage investment and job creation. The Homerville DDA and Homerville Main Street are eager to help your business grow.

Rural Zone status helps stimulate economic activity and preserve the unique smalltown assets of Homerville.

R.U.R.A.L. Zone (Revitalizing Underdeveloped Rural Areas Legislation)

Homerville

R.U.R.A.L. Zone

R.U.R.A.L. Zone (Revitalizing Underdeveloped Rural Areas Legislation) designation provides incentives in the form of tax credits to promote the revitalization of vacant rural Georgia downtown areas. By encouraging investment, job creation, and economic growth in long-established business districts, Rural Zone status helps stimulate economic activity and preserve the unique small-town assets of Homerville.

Rural Zone Incentives Include:

• Employment Tax Credits

• Eligible businesses can claim a $2,000 tax credit per new full-time equivalent job with the total credit not to exceed $40,000 per year

• Eligible applicants must create two full-time equivalent jobs

• Eligible businesses include professional services or retail

• Credit can be taken for five consecutive years as long as jobs are maintained

Rehabilitation Tax Credits:

• Equivalent to 30% of qualified rehabilitation costs not to exceed $150,000

• Credit should be prorated equally in three installments over three taxable years

• To quality, projects must create a minimum of two full-time equivalent jobs

Investment Tax Credits:

• This credit is for purchasing property downtown within the Rural Revitalization Zone

• Credits are 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 zone and create two full-time equivalent jobs

• Credit can be claimed over a period of five years

Rural Zone status stimulate economic preserve the unique assets of Homerville.

status helps economic activity and unique small-town Homerville.

Additional Federal and State Incentives

Federal Rehabilitation Investment Tax Credit

A federal income tax credit equal to 20% of rehabilitation expenses is available for income-producing properties. This credit applies exclusively to properties listed in, or eligible for, the National Register of Historic Places, including properties within 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 final approval.

Georgia State Income Tax Credit Program for Rehabilitated Historic Property

State tax incentives are available for owners of a historic property who carry out a substantial rehabilitation. A state income tax credit of 25% is available for renovation costs. The credit is capped at $100,000 for residences and $300,000, $5 million or $10 million for income-producing properties. This amended tax credit is allowed for the taxable year in which the certified rehabilitation is completed.

State Preferential Property Tax Assessment for Rehabilitated Historic Property

This incentive temporarily freezes the county property tax assessment for over eight years. This incentive is available for historical properties that serve as either personal residences or income-producing properties. The owner must increase the fair market value of the building by 50100%, depending on use. The Georgia Department of Community Affairs Historic Preservation Division (HPD) administers the program.

Department

of Community Affairs (DCA) Downtown Development Revolving Loan Fund

The purpose of the Downtown Development Revolving Loan Fund (DDRLF) is to assist cities, counties, and development authorities in their efforts to revitalize and enhance downtown areas by providing belowmarket rate financing to fund capital projects in core historic downtown areas and adjacent historic neighborhoods where DDRLF will spur commercial redevelopment.

The maximum loan is $250,000 per project. Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds. Each application must also undergo credit underwriting. Applications will be accepted throughout the year and as loan funds are available.

Georgia Cities Foundation Revolving Loan Fund

The Georgia Cities Foundation assists cities in their efforts to revitalize and enhance downtown areas by serving as a partner and facilitator in funding capital projects through a revolving loan fund. These below market rate loans can be used to finance eligible projects include real estate acquisition, building rehabilitation, new construction, and greenspace/park development. These loan funds can be coupled with the DDRLF.

As of 2022, the maximum loan is $250,000 per project. Applicants must demonstrate that they have a viable downtown development project and clearly identify the proposed uses of the loan proceeds.

Applications are evaluated based on leadership, accountability, longterm sustainability, and potential for private investment. Projects should encourage spin-off development, add jobs, promote downtown housing, or add to the cultural enrichment of the community. Each application must also undergo credit underwriting. Applications will be accepted throughout the year and as loan funds are available.

Georgia Cities Foundation Green Communities Fund

The Green Communities Fund is a rebate program offered by the Georgia Cities Foundation. The Green Communities Fund provides a 25% rebate for pre-approved, eligible energy efficient improvements to downtown commercial, mixed-use, and multi-family buildings within the state of Georgia. Loans are available for existing as well as new construction. This program requires an initial energy audit to identify eligible improvements. Eligible improvements must either result in a 20% reduction in building energy use or have a 10-year return on investment. Maximum loan amounts vary based upon project costs.

Local Incentives Downtown Façade Grant Program

The Homerville Main Street Program and the Downtown Development Authority developed a Façade Improvement Program to encourage exterior improvements to properties and to promote economic development in the historic downtown. This program is intended to preserve and restore historic properties and details that reflect Downtown Homerville’s historic character.

The program encourages reinvestment by matching private investment 50-50 with a maximum match amount of $5,000. For example, if a rehabilitation project costs more than $10,000, the maximum amount the applicant can receive is $5,000. If the project costs less than the $10,000, the maximum amount the applicant can receive is half of the total cost of the investment.

Applications for the façade improvement program will be reviewed and considered based on the funds available, the order in which applications are received, and the quality of the proposed design. Applications will be reviewed by the Downtown Development Authority of Homerville at regular meetings with the following criteria taken into consideration:

• The historic, cultural, and/or architectural significance of the building

• The potential impact of the project on the downtown in general and on the building in particular

• Location of the building in visually prominent areas and/or economically blighted areas

• The overall cost of the project

• The quality of the proposal and adherence to procedure

Program Requirements:

• Applicable properties must be commercial, income-producing, and located in the Central Business District (See map on page 6).

• Applicants must be the building owner and/or tenant and in good standing with the City of Homerville. Tenants must submit a copy of the signed lease agreement with this application along with a letter of support from the property owner.

• Applications are limited to one façade during any 12-month period.

• Repeated applications for the same item or project within a five-year period will not be considered.

• Work must begin within 45 days of approval and be completed within 180 days of commencement. Funds will be released following the completion of the project, along with the presentation of paid invoices, and a final review of the project by the Homerville Downtown Development Authority.

• Applicants may only use funds for the approved purpose and as specified in the application. Any changes from the original application must be submitted in writing prior to the work being completed for the application to remain valid.

• Façade improvement funds will not be awarded in lieu of routine maintenance or for repairs that may be associated with an insurance claim.

• Any improvements must conform to the Homerville Downtown Development Authority’s chosen guidelines.

• Incomplete applications will not be considered.

• Failure to follow these guidelines as determined by the Homerville Main Street Manager and the Downtown Development Authority may result in failure to release funds.

• Before and after photos must be submitted and date stamped.

Eligible Actions:

• P ainting, cleaning, masonry repair, and/or replacement of historicallyappropriate windows and doors including storefront on all exterior façades.

• Restoration, repair, or removal of old signs or the design, production, and installation of new signs that are incompliance with the City of Homerville’s Sign Ordinance. Non-compliant signage 50 years or older and/or signage with cultural significance may be given special consideration.

• Pu rchase, installation, or restoration of exterior lighting fixtures for design enhancements and/or security.

• T he purchase and installation of new awnings and/or frames.

Ineligible Actions:

• Demolition of historically, culturally, or architecturally significant buildings or features.

• Sandblasting of brick or masonry surfaces.

• The addition of inappropriate residential details added to commercial buildings, including shutters, plastic windows, and solid wooden doors.

• Improvements made prior to application approval.

Local Incentives

Site and Building Location Assistance:

The Homerville Main Street and DDA maintains an inventory of all properties and owners in the downtown district. They are always ready to help locate a suitable property for a new or expanding business. For a current list of buildings for rent or sale please go to https://www.downtownhomervillega.com

Georgia Small Business Development Training:

The business start-up process can be confusing and cumbersome. Fortunately, there is quality, FREE assistance for businesses available throughout Georgia through the Georgia Small Business Development Center Network. For more information please contact is Business Consultant Alyssa Foskey afoskey@georgiasbdc.org or visit https://www.georgiasbdc.org/

Advertising

The Clinch County News offers one 1/8-page ad for free to any new or renovated business and a write-up with picture in The Clinch County News Newspaper.

Façade Design Assistance

Downtown Homerville’s business and property owners may take advantage of the Design Assistance Program offered through a partnership with the Institute of Government and Homerville’s Main Street program. The Design Assistance Program provides site planning services, paint color recommendations, façade improvement recommendations, and other suggestions for appropriate exterior improvement to historic buildings. Property owners/tenants will also receive a color rendering of the proposed building improvements.

The Homerville DDA and Main Street Program are happy to guide prospective business owners through any local requirements to help expedite finding a location and opening your business.

Homerville combines the resources and tools of the DDA and Main Street program to support downtown businesses and grow the local economy.

We are excited to help entrepreneurs grow their businesses and achieve their highest potential in our community.

CONTACT INFORMATION

LAURA NIPPER, Main Street Manager

40 E. PLANT AVE. Homerville, GA 31634

EMAIL: mainstreet@cityofhomerville.com

TEL: (912) 487-0714

JENNY ROBBINS, DDA Chair

40 E. PLANT AVE. Homerville, GA 31634

EMAIL: Jenny.Robbins@GeorgiaEMC.com

TEL: (912) 599-0617