Washington New Business Incentives – Washington is excited to offer new qualifying businesses within the city limits discounted utility rates for electricity, and water/sewer, as well as discounted permit fees for plans and water and sewer tap fees. For more information, click here. To download the New Business Utility Incentives Application, click here. 

Assistance in Determining Funding Options – Downtown Washington Development Authority (DDA) will aid in assessing projects and determining which loan program(s) are most suitable. DDA has access to many additional funding resources depending on the eligibility of the project and borrower. It is always advisable to contact DDA/Main Street in person to discuss loan eligibility. For more information visit our Financing Tools page.

Facade Improvement Grant Program – Grants are available from the Washington DDA for the renovation of exterior facades. Funds can be used for renovations performed on an exterior facade (defined as building side that faces a public right-of-way) including awnings, paint, brick repointing, brick cleaning, window repair, removal of covering materials to expose transoms. Reimbursement is made for one-half (1/2) of the total project totaling $1,000 (reimbursement would be $500) per application. The grant can be applied for every five years based on anniversary date of the previous award. All awards are subject to the discretion and approval of the DDA Board of Directors. Applicants must meet all requirements and approvals which can be found in the DDA Facade Improvement Grant Policy and Application.

Business Assistance – Many resources for technical assistance are available to downtown businesses through DDA. Whether a business is just starting or has many years’ experience, all businesses can benefit from updates, current trends and business practices, and new technology information.

Site /Building Location Assistance – DDA maintains an inventory of all properties and owners in the downtown district. DDA is always ready to help locate a suitable property for a new or expanding business. For a current list of buildings for rent, click here or for sale, click here.

Regulatory Assistance with Licensing, Approvals, Permits – The requirements for starting a new business, rehabilitating a building, or just installing a sign can seem overwhelming. DDA staff will lead even the most experienced through applications for new business certification, historic preservation approval, alcohol permits, zoning approval, building permits, health department permits, etc. 

20% Investment Tax Credit (ITC) – Certain expenses incurred during the rehabilitation of old commercial buildings are eligible for a 20% tax credit. To qualify, a building must be listed in the National Register of Historic Places, either individually or as a contributing building within the Washington Historic District. The ITC is based on a percentage of the rehabilitation costs and does not include the purchase price. The tax credit applies to the building owner's federal income tax as an actual reduction of tax liability rather than just a deduction. To determine the eligibility of a building, contact Elizabeth Elliott.

10% Investment Tax Credit – To qualify for this incentive, the building must have been built before 1956 and be non-historic; that is, not listed on the National Register, either individually or as a contributing building, within the Downtown Washington Historic District.

Tax Benefits for Historic Preservation Easements - A historic preservation easement is a voluntary legal agreement, typically in the form of a deed, that permanently protects a historic property. Through the easement, a property owner places restrictions on the development of or changes to the historic property, then transfers these restrictions to a preservation or conservation organization. A historic property owner who donates an easement may be eligible for tax benefits, such as a federal income tax deduction. Easement rules are complex, so property owners interested in the potential tax benefits of an easement donation should consult with their accountant or tax attorney. Learn more about easements in Easements to Protect Historic Properties: A Useful Historic Preservation Tool with Potential Tax Benefits. [Link to PDF titled easements-historic-properties.pdf in PDFs folder of Washington website folder]

50% Tax Credit for ADA Compliance – This tax credit is available for monies spent to remove architectural barriers to make a building accessible to the handicapped. Consult your tax advisor for the most current information and forms.