Grants and Loans

The City of Morganton offers grant/loan programs for the purposes of economic development and to stimulate economic activity.

  • Commercial Street Participation
  • CDBG Small Business Loan Program
  • Development Incentive Grant
  • Residential Street Participation

Under the 1983 Amendment to the Housing and Community Development Act, recipients of Community Development Block Grant (CDBG) and HOME funds must implement activities to affirmatively further fair housing.

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The City of Morganton through the Community Development Block Grant (CDBG) Program has funds available for Non-Profits acting as subrecipient to conduct activities to benefit low and moderate-income persons within the City limits of Morganton. Anyone  interested should submit an application by 3:00 pm, Monday, Sept. 14, 2015. Selected applicants will be required to execute a subrecipient agreement with the City of Morganton in accordance with sub-part 570.503 CFR. 

Please note that non-profits that have received funding for the past two consecutive years will not be eligible for funding. Community Development Staff wants to make these funds available to all qualified non-profits and provide an equal chance to receive CDBG funds to all local non-profits.

Contact Lisa Helton at 828-485-4281 for more information.

Purpose

The City of Morganton Community Development Block Grant (CDBG) Small Business Loan  Program (SBLP) is a competitive program offering both startup or expansion companies an opportunity within the City Limits of Morganton to obtain loan funds up to $75,000 upon approval and in compliance with CDBG criteria.  All businesses requesting funds between $5,000 and $30,000 must create at least one new job that meets the HUD income criteria.  All businesses requesting greater than $30,000 must be able to create a minimum of 10 new full time job positions within 1 year of funding.  51% of those jobs must be filled by individuals who fall within HUD Low to Moderate Income and Household Income criteria.  (see criteria below)

 

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dd-dig-logo-v3-150pxThe Development Incentive Grant (DIG) program is designed to accomplish a combination of goals related to economic development and community development efforts identified within the adopted Mission 2030 Plan.  Economic vitality and sustainability is targeted in Morganton’s efforts to reverse 20 years of economic decline.

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wpcog-logoIn June of 1995, all twenty-eight (28) local governments in Alexander, Burke, Caldwell, and Catawba counties agreed to form the Unifour Consortium HOME Program, a regional body that has achieved entitlement status from the US Department of Housing and Urban Development (HUD). The City of Lenoir serves as the Lead Entity for the Unifour Consortium. The Unifour Consortium receives approximately $1.2 million annually to address regional housing issues, and these grant funds are used to provide zero-interest, forgivable loans to first-time homebuyers.

The Unifour Consortium offers a First-Time Homebuyer Assistance Program to applicants by providing loans of up to $5,000 for existing homes and up to $7,500 for new homes, to eligible first-time homebuyers. This assistance is in the form of 0% interest loan with no monthly payment. The loan funds must be used to pay the down payment or closing costs to purchase a home.

Find about more about the First-Time Homebuyer Assistance Program.

City Contact

828-437-8863

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Staff Directory

305 E. Union St. Ste A100
Morganton, NC 28655 i Google Maps 16x16

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