The purpose of the Downtown Residential Incentive Fund is to provide a catalyst for new and accelerated residential development in the downtown area.

Through the DRIF, the DSDC provides a loan guarantee that would become a grant if used to cover the construction interest (only) for new downtown dwelling units, after completion (after Certificate of Occupancy) until the time of sale or lease, up to one year.

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As a Main Street America Affiliate™, the Downtown Smithfield Development Corporation is part of a national network of more than 1,200 neighborhoods and communities that share both a commitment to creating high-quality places and to building stronger communities through preservation-based economic development.
 
  
 
 
  
Community ms vertical color logoSmithfield is a North Carolina Main Street community, designated by the N.C. Department of Commerce Main Street & Rural Planning Center. The Downtown Smithfield Development Corporation is charged with administering the program at the local level and building public-private partnerships to spur economic development that achieves measurable results such as investment, business growth, and job creation.