The Buncombe County Tourism Development Authority’s Tourism Product Development Fund (TPDF) was created to provide financial assistance through grants, loan guarantees, or pledges of debt service to major tourism capital projects that will increase patronage of lodging properties in, and further economic development in Buncombe County.
Donor Name: Buncombe County Tourism Development Authority
State: North Carolina
County: Buncombe County (NC)
Type of Grant: Grant
Deadline: 05/15/2024
Size of the Grant: Not Available
Grant Duration: Grant Duration Not Mentioned
Details:
Pojects receiving TPDF investment have not only created jobs and entrepreneurial opportunities for local residents, but they have also provided amenities that are enjoyed by residents and visitors alike.
Policies

The TPDF Committee may utilize a waiver of any non-legislatively mandated eligibility criteria to advance a project if it represents a significant impact upon lodging demand and Buncombe County economic sustainability. All projects must meet all eligibility criteria and requirements stated in legislation.
Projects which either directly increase overnight lodging stays by themselves or support a larger initiative that will increase room nights will be evaluated equally.
TPDF funds cannot be the first funds committed to a project.
BCTDA reserves the right to cancel the grant application cycle at any time and for any reason.
BCTDA reserves the right to award or deny grant funding to any project for any reason consistent with the intent of the legislation.
Recognizing that its resources are limited, BCTDA may grant funding that is less than that requested by the applicant.
BCTDA will not make payment directly to any vendor or individual. Payment will only be made to the applicant organization as reimbursement.
If the grantee is unable to fund and/or complete the project, BCTDA may revoke all or part of the grant. The grantee may be forced to return some or all funding plus interest if the recipient is found to have used the funding inappropriately, if the project was not completed, or if the project scope or design was changed without approval of BCTDA.
All applications are subject to the requirements regarding “public records” found in Chapter 132 of the North Carolina General Statutes. Submitted applications will be disclosed upon request.
The applicant assumes the burden of all their expenses associated with this application.

Uses of funds

Funding must be for capital investments only (“brick and mortar” projects – design not included).
Operational expenses will not be considered for funding.
Design fees already expended will be considered as counting towards the 1-to-1 funding match.

Project Eligibility

Project must be principally located in Buncombe County.
Project must be a major tourism capital project that furthers economic development of Buncombe County.
Project must demonstrate ability to increase patronage of lodging facilities in Buncombe County by attracting tourists, business travelers, or both.
Project must not solely benefit a single lodging owner, lodging property, or be situated on a lodging property.
At time of application, applicant must have legal control of the property through recorded deed or long-term lease agreement. If property is owned by a municipal partner, such as the City or County, a non-profit organization may provide a letter of support or other agreement with the municipal partner.
Applicant must show how a minimum of a 1-to-1 funding match to the requested grant amount (excluding in-kind goods and services) will be achieved.

Eligibility Criteria

Applicant must be a federally recognized non-profit organization or government entity.
If the applicant is a non-profit organization, the organization must have been in operation for at least 2 years at the time of application

Evaluation Criteria
Application will be evaluated according to the following criteria:
Viability of Project and Organization

Financial Stability of the Requesting Organization

Each applicant organization will be evaluated for financial sustainability, and their perceived ability to raise additional funds as needed to bring the project to completion.

Strength of Business Planning

If applicable, the proposed business plan for the project will be evaluated on its accuracy, completeness, and likelihood to support a successful and sustainable operation once the project has opened.

Strength of Sales and Marketing Plan/Investment

If applicable, sales and marketing plans for projects will be evaluated upon the likelihood they will succeed in drawing visitation to the destination.

Timeliness of the Project

Projects which are “shovel ready” may rate more highly than those which are still two or more years from beginning construction.

1-to-1 Funding Match Exceeded

While it is a requirement for applying organizations to have secured a funding match equal to the amount for which they are applying from the TPDF, projects that exceed the 1-to-1 requirement may receive particular

Destination Differentiator

Strength of Brand Alignment

Projects will be evaluated on whether they are consistent with the Asheville destination brand and provide additional support for the brand promise.

Uniqueness and Innovation of Project

Attractions and activities which are new to the region or not available to visitors living in key feeder markets for the destination may be valued more highly than those which duplicate offerings already available to visitors.

Ability to Promote and Support the Local Creative Sector

Projects which promote and support the community’s creators and makers, and which enhance the destination will receive greater consideration.

Project Impact

Ratio of Overnight Lodging Generated to Funding Requested

The amount of TPDF funding requested will be analyzed versus the potential return of new overnight lodging demand in Buncombe County to be generated by the project.

Generator of New and Incremental Room Nights

The room night impact of a proposed project will be assessed on whether the project is drawing new visitors to the area, or simply pulling from existing visitors in Buncombe County while not increasing the number of new lodging room nights.

Scope of Market to be Served

Projects that target audiences capable of filling area lodging are valued, but projects that draw new and untapped niche markets to Buncombe County may also be worthy of consideration.

Scope of Impact Upon Lodging

The impact of a project upon Buncombe County lodging will be considered not only in terms of demand generated, but also in terms of the geographic impact. Projects capable of generating lodging demand in more than one area of the county may rate more favorably.

Ability to Serve as a Contributing Asset

Projects which support an important generator of destination room nights, or which could stimulate additional activity, but which may not generate significant room nights by themselves will be considered. Applicants should demonstrate the potential for additional community benefit if their project is built.

Project as a True Motivator of Visits

Projects will be evaluated based upon their ability to motivate new room nights, proven through sound analysis and data.

Alignment with BCTDA’s Strategic Imperatives

Deliver Balanced Recovery and Sustainable Growth

Projects will be evaluated based upon whether they lead to balanced and sustainable growth through distribution of visitors geographically across the county or seasonally throughout the year or days of the week.

Encourage Safe and Responsible Travel

Projects which encourage care and respect for natural, cultural, and human resources, or support the sustainability of outdoor recreation, will be given greater consideration.

Supports Engagement with and Appeal to More Diverse Audiences

The committee will assess the ability of a project to diversify audiences and support of place making, community connections, and business opportunities throughout the county.

For more information, visit BCTDA.