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Bringing it back: Developers push for change in downtown investment
MOORESVILLE — A development group is pushing Mooresville officials to improve incentives for downtown investment, saying it’s harder than it should be to complete projects that would give the town an economic boost. Officials said the town board will consider several development incentives in January, including a low-interest loan program for businesses that invest in downtown and a tax incentive tied to property value increases. Howard Kosofsky of Old Downtown, LLC, said he and his partners have invested $3.4 million in downtown Mooresville over the last two-and-a-half years, buying and rehabbing three buildings. Their most prominent project is the $1.5 million renovation of the Gabriel Building. Kosofsky and other developers have complained that officials should have acted well before now to make it easier to invest in downtown. “If I had to do it again, I wouldn’t,” Kosofsky said. “I never thought it was going to be this difficult.”