KINSTON, N.C. (WITN) - On Tuesday night, the City of Kinston motioned to approve a memorandum of understanding between the City and Lenoir County for a tax incentive policy to support the redevelopment of Downtown Kinston.

The goal is to provide grants over a five-year period that will reduce taxes for downtown property owners who create jobs and increase tax values on their properties.

Mayor Don Hardy says it will boost economic growth, create jobs, and preserve historic properties.

“So what we’re doing is we’re offering them an opportunity to get themselves in the door, start making some money, hopefully draw some folks to our city, our community however, and we’re just excited about the opportunity that we have, but it’s a five year plan where they you know get reduced taxes over a f

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