Development Opportunities

Font Size: + -

Feedback Print

The City is committed to partnering with private for profit and not for profit developers on strategic development projects that align with City Council’s vision of economic growth and affordable housing. While local governments are not allowed to invest in private projects or provide public funds for private benefit, they may participate in encouraging private developments in a variety of ways that benefit the long-term health of the community.

The City is continuously developing programs and solutions to challenges that the local business, industry, real estate and environment creates. Ultimately, the City aims to establish proactive approaches that leverage public resources to solve the needs of business, industry, developers and investors.

Economic Development Opportunities

Tax Increment Grant (TIG) financing is a tool used by municipalities to assist with the financing of private development projects which create public benefits in areas identified by the municipalities as needing additional public and private investment and development. It is one of several financing tools available to the City of Fayetteville for use in creating such public benefits where the private market alone has not created similar benefits for the citizens of Fayetteville. Click to view the Tax Increment Grant policies and application.

Section 108 financing provides an opportunity for communities to take on larger, more costly projects, where they may have limited resources to invest in upfront. This program provides communities with a source of low-cost, long-term financing for economic and community development projects. Click to view the Section 108 Guidelines.

The Business Assistance Loan Program offers down payment assistance or gap loan financing to assist new and existing small businesses. For more information, click here.

For more information call 910-433-1590 or email: EconCommDev@FayettevilleNC.gov

Affordable Housing Opportunities

Rental Housing Development
The City of Fayetteville's Affordable Rental Housing Development Program is available for qualified developers to submit proposals for the new construction or acquisition and/or rehabilitation of multifamily or single-family rental units. Rental units assisted with City funds must be affordable to families, individuals, and/or the elderly with annual incomes at or below 80% of the area median income (AMI). Applications must be submitted through the Neighborly Application Portal (see below).

9% Low Income Housing Tax Credit Financing
The City of Fayetteville will, from time to time, make funds available for gap financing exclusively for rental projects that will then seek a Low-Income Housing Tax Credits (LIHTC) award from the North Carolina Housing Finance Agency (NCHFA). It is the City’s goal to assist developers who have the best chance of receiving a LIHTC award and it is the City’s intent to award funds to as many developers as practical to increase our community’s chances of receiving a LIHTC award. Applications must be submitted through the Neighborly Application Portal (see below).

9% Low Income Housing Tax Credit Program Guidelines

North Carolina Housing Finance Agency (NCHFA)
Additional State resources can be found here with the North Carolina Housing Finance Agency, which offers financing to help develop privately owned affordable housing rental units for low income North Carolinians.

Neighborly Application Portal