The Town of Greenville created its first Tax Incremental District (TID) in January 2017. Its creation is intended to spur economic development within the area by providing for improvements to existing infrastructure and construction of new which will provide incentive to business to develop that would otherwise have to pay for such improvements on their own. In addition, cash grants are available to businesses for locating in the TID to offset the cost of development. Significant projects that are planned to be undertaken include construction of the extension of Design Drive including water, sanitary and stormwater improvements; improvements to Hwy 15; regional stormwater facilities; refurbishments to the Airport Area Water Tower and a new municipal well.
- The Town is currently under contract for engineering design of Design Drive which include the road and water, sanitary and stormwater facilities.
- Well #5 is being constructed located on Hwy 96 just west of Hwy 76 located adjacent to the Town of Greenville's Sports Center Complex"
Financial Incentive Information
The following guidelines will be used to evaluate financial incentive requests. Please contact Michael J. D. Brown to discuss the request process.
- Developer equity % of total cost should equal or exceed Town TIF assistance as % of cost.
- Developer should have 10% equity in the deal.
- The Town will consider withholding a % of available increment in PAYGO structure for other projects within the TID.
- The developer will cover administrative costs plus direct third party costs of legal/engineering/financial consultant fees incurred by the Town.
- Financial assistance should be provided on a pay-as-you-go basis (PAYGO).
- An assessed value or tax payment guaranty should be provided.
- “Look Back” provision will be considered.
Financial Incentive Worksheet
Design Drive Concept Plan
Aerial Site Location