About the Prizes | Downtowndigsec

About the Prizes (Please Read)

Main Prize - Free living in a Betsy Town Flats loft-style or 1 BR apartment for one year*

12 consecutive months of rent paid on winner’s behalf for a Betsy Town Flats loft-style or 1 bedroom apartment.
1 parking space for 12 consecutive months.
$2,400 toward utilities for 12 consecutive months ($200 per month).
$5,000 toward a furniture allowance or other expenses (it may also be used to pay taxes associated with prize).
Free internet (this is included in the standard Betsy Town Flats lease. It is not calculated into the fair market value of the prize package).
*Price package Fair Market Value ($23,000). *Taxes are the sole responsibility of the winner; Before awarding the prize, raffle sponsor is required to deduct federal taxes and/or receive payment (to be paid to IRS) based on the Fair Market Value of the prize package, less the amount wagered. Estimated taxes: $5,750. This may be deducted from the cash portion of the prize package or paid separately to the raffle sponsor. Click HERE for IRS requirements.
Winner has choice of available loft-style or 1 Bedroom apartment at the time of win and/or time of lease signing.
Unit will be available for lease starting between September 1, 2023 to January 2, 2024, or any such time as raffle winner and Betsy Town Lofts, LLC agrees) for twelve consecutive months.
Winner will execute lease with Betsy Town Lofts, LLC and must abide by all normal terms and conditions of the lease document. (Note: Unit may not be subleased or rented on AirBNB or any other short-term leasing entities. Prize may be gifted to another; however, the lease will be executed in the name of the primary tenant.)
Betsy Town Lofts, LLC reserves the right to perform its standard credit reporting before the winner executes the lease agreement.
Once lease is executed between Winner and Betsy Town Lofts, LLC, Elizabeth City Downtown, Inc. will pay in full to Betsy Town Lofts, LLC the full amount of one year’s rent on behalf of the Winner. No refunds will be made if Winner withdraws from the lease before the end of the twelve-month lease period. At least 30 days prior to lease end, tenant will notify landlord of intent to end or continue lease. If lease is continued, a normal Betsy Town Flats, LLC deposit will be required.
In the event the Winner fails to qualify as a tenant, they may alternately choose and receive the $15,000 cash prize option.

Alternate Prize Option -- $15,000*

Winner may choose a $15,000 cash prize option in lieu of the Main Prize.
*Taxes are the sole responsibility of the winner; Before awarding the prize, raffle sponsor is required to deduct federal taxes and/or receive payment (to be paid to IRS) based on the prize amount, less the amount wagered. Estimated taxes: $3,725. This may be deducted from the cash portion of the prize package or paid separately to the raffle sponsor. Click HERE for IRS requirements.

Choosing Prize Options*

Winner will have fifteen (15) days from notification of award to choose between the Main Prize (Free Living) or the Alternate Prize ($15,000 cash).
*Taxes are the sole responsibility of the winner; Before awarding the prize, raffle sponsor is required to deduct federal taxes and/or receive payment (to be paid to IRS) based on the prize amount (or Fair Market Value of prize package), less the amount wagered. This may be deducted from the cash portion of the prize package or paid separately to the raffle sponsor. Click HERE for IRS requirements.

Betsy Town Flats, Elizabeth City, NC

Contemporary living in a historic former school setting

Betsy Town Flats is an 85-unit apartment complex built in a restored former school on the border of a growing and thriving Downtown. A labor of love and respect by the J.D. Lewis Construction Management Team, a blighted and dilapidated school campus is being revitalized into contemporary living in a historic setting.

The buildings and campus were home to students of Elizabeth City High School, Elizabeth City Junior High School, and Elizabeth City Middle School for nearly over eighty years. The Elizabeth City High School and/or Elizabeth City Middle School campus is part of the cultural heritage of the community and the thousands of students who attended the school, the teachers, the substitute teachers, the teacher assistants, the coaches, the cafeteria workers, the custodial staffs, and so many more who have associations with the school and the campus. So many people in our community have a connection with that educational campus, inside and out.

The building, located on Elizabeth Street with easy access to routes to the Outer Banks and other areas of the city. It is the 2nd building in Elizabeth City to be designated a Local Historic Landmark.Downtown is only steps from your front door with the vibrant hot spot Historic Pailin's Alley and is walking distance to the waterfront, retail, arts, restaurants, coffee shops, 2 breweries, regional museum, cultural arts center, marinas, and the historic courthouse district. Downtown is home to 26 dining and sipping businesses, over 30 retail/shopping options, 23 wellness and beauty options, and 10 arts, experience, and kids activities. There are over 100 businesses of various types located in the Downtown EC Central Business District.

Each apartment is unique and built around the character of classroom and school spaces.

Amenities include high speed internet, pool, community room, workout room, event space, rentable office space, storage, dog run, granite countertops, stainless steel appliances, walk-in closets, washer/dryer.

An Outdoor Lover's Guide to Adventure in Elizabeth City

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