Bourbon County Economic Development Director Jody Hoener says growing Bourbon County’s economy menas focusing on small business.
“Small business expansion and retention,” Hoener says.
And she says having a tool like the Neighborhood Revitalization Act could go a long ways towards that.
“It’s really important that we’re able to offer any type of incentive to help small business, or our farmers, our ranchers, anything to help them,” Hoener says.
Bourbon County Counselor Justin Meeks says the Neighborhood Revialization Act does that.
“For resident or farm improvement over 15% of the appraised value of the land would be rebated over a five year period, and commerical would be over a ten year period with the same type of levels,” Meeks.
Meeks says the county commission has already approved their part, but are waiting on approval for a different part of the NRP from the attorney general’s office. But he says there are already people in the program, and they won’t be impacted regardles of the outcome on the second part. Meeks says the reason commissioners went the fifteen percent level instead of specific dollar amount was to open it to everyone in the county.
“We were looking for, you know, taking a house that would maybe pre-existing, and you know, flipping it or doing improvements so a person would have a better quality of life in that home,” Meeks.
And Hoener says while there’s the obvious impact of encouraging construction, the NRPL may have less noticeable, but just as important impact.
“It’s contagious. People will start, just like happiness can be contagious, people will start just saying, ‘Oh, well, look what they’re doing,’ so that they want to improve it, they want to be a part of the team and they want to be a part of the community,” Hoener says.
Meeks says they should have an answer from the attorney general’s office by mid-summer.