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BAILEY — The town’s downtown development organization has a name and mission; now it just needs funding.
The downtown revitalization effort should continue as a nonprofit group, said Walter Wells, head of the organization’s steering committee, which was created two months ago.
Christened as the Downtown Bailey Development Association, the organization intends to become a 501(c)(3) entity with the stated mission of fostering economic growth while preserving downtown Bailey’s historical character.
The group is asking for $5,000 from the town to help defray the costs of incorporating as a nonprofit organization and assist in downtown revitalization.
The nonprofit would be allowed to raise funds and use donated land as well as buy and sell property to assist with revitalization.
The nonprofit will act as an advisory committee to the Bailey town board. Subcommittees will be set up for promoting the town and other objectives.
Wells said a large majority of Main Street programs are nonprofit.
The N.C. Department of Commerce’s Main Street and Rural Planning Center is facilitating the organization’s establishment.