PLANNING & DEVELOPMENT
The City of Conway has developed multiple incentive options to stimulate the redevelopment, establishment, and continuation of the growth of our community. These incentives are offered for a wide range of business opportunities and some residential opportunities. These incentives are essential for future progression as well as historical preservation of our City. Below you will find a brief description of each incentive that is offered through the City of Conway as well as the links to find out more information for each category.
- Family Entertainment Incentive-This incentive applies to any person, firm or corporation establishing a cinema, bowling center or other family entertainment facility in the city limits of Conway through annexation, redevelopment or new construction. All eligibility is subject to review and approval by city council.
- Hotel Incentive- This incentive applies to any person, firm or corporation establishing a hotel or commercial short-term rentals with a minimum of 8 units in the City of Conway. All eligibility is subject to review and approval by city council.
- Preservation Tax Incentive- This incentive is designed as a special tax assessment that was created for the rehabilitation of historic properties. This special tax assessment is for eligible properties for 15 years equal to the fair market value of the property at the time of preliminary certification. This incentive can apply to both residential and commercial properties.
- Redevelopment Enhancement Incentive- There are 3 categories of the Redevelopment Enhancement Incentive. One of these categories is specific to the zoning district of the proposed redevelopment, another is specific to vacant buildings in the Central Business District and and the other is specific to vacant commercial buildings 25,000 square feet or greater.