Legacy Investment from Tourism (LIFT) Fund
A new chapter of community investment
Broadening the Scope and Eligibility for Tourism-Related Capital Project Investments
The Legacy Investment from Tourism (LIFT) Fund marks a significant shift in how visitor tax dollars benefit Buncombe County. As of July 1, 2022, the legislation governing the occupancy tax increased the allocation of occupancy tax revenue for community capital projects from 25% to 33%, and divided that revenue into two funds, establishing the LIFT Fund.
The Buncombe County Tourism Development Authority’s LIFT Fund provides financial investment through grants, loan guarantees, or pledges of debt service to tourism-related capital projects that will increase patronage of lodging facilities and benefit the community at large in Buncombe County.
LIFT Fund Eligibility Criteria
Projects eligible for the LIFT Fund must meet the following 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.
- Project must be principally located in Buncombe County.
- Project must be a tourism-related capital project.
- Project must (1) demonstrate ability to increase patronage of lodging facilities, meeting facilities, and convention facilities in Buncombe County by attracting tourists, business travelers, or both and (2) benefit the community at large in Buncombe County.
- Project must demonstrate ability to balance both resident and visitor needs.
- 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.
- 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.
Use Of Funds
Funding must be for one of the following uses:
- Construction of a new location or relocation
- Expansion of an existing location
- Restoration or rehabilitation of an existing location
- Maintenance of a tourism-related capital project
- Design of a tourism-related capital project
- Project administration of a tourism-related capital project
- Enhancement of natural resources
- Expansion of necessary infrastructure
Download the LIFT Fund Investment Summary
LIFT 2026 Cycle Schedule
- March 25: Information Session at the Explore Asheville Office
- April 1: Phase I Application Opens
- May 1: LIFT Fund Phase I Application Closes
- May 20: Phase I Applicants Notified and Invited to Phase II
- July 15: Phase II Application Closes
- Week of August 3: Project Presentations
- Week of August 10: Project Site Visits
- September Board Meeting: Funding Recommendations Presented to BCTDA Board
How it works
2026 LIFT Grant Cycle
The LIFT Fund Grant Cycle occurs every other year, alternating with the Tourism Product Development Fund (TPDF). The next LIFT Fund Cycle will begin in Spring 2026.
For a project to be considered for funding, it must successfully complete a two-phase application process. Applications are evaluated by the LIFT Fund Committee, which then makes investment recommendations to the authority for final approval.
Legacy Investment from Tourism Fund Committee
The LIFT Fund Committee provides recommendations to the authority to invest in tourism-related capital projects that will increase patronage at lodging facilities in Buncombe County by attracting tourists and/or business travelers, thereby replenishing the fund.
The BCTDA Board of Directors appoints members to the LIFT Fund Committee. A majority of committee members must be owners or operators of hotels, motels, or other taxable lodging accommodations. The remainder of the committee shall be comprised of representatives with expertise in tourism, law, finance, economic development, architecture, or engineering. Committee members serve a term that spans three funding cycles, renewable for up to two terms.
