An expansion of Downtown Development Districts program has been announced.
Governor Jack Markell officially designated five new Downtown Development Districts – in Smyrna, Harrington, Milford, Georgetown and Laurel in announcing the expansion.
Investors who make qualified improvements to residential, commercial, or industrial properties in those districts now may qualify for state and local development incentives, including 20 percent state grant rebates.
“The Downtown Development Districts program already is driving major investment in our cities, from Market Street in Wilmington to the banks of the Nanticoke River in Seaford,” said Markell. “More Delawareans than ever want to live and work in walkable, urban areas. This expansion will help meet that demand by encouraging private development of downtown areas statewide.”
Since early 2015, the Downtown Development Districts program has helped finance major new private development in the original districts in Wilmington, Dover and Seaford, with $14 million in state grant funding leveraging more than $290 million of private investment.
Markell made the expansion announcement in downtown Smyrna on Wednesday.
“We are excited about the transformation that will occur in the next few years in Downtown Smyrna. Smyrna has been working hard to grow our Downtown, and the Downtown Development District designation will help ignite even more progress and at a quicker pace,” said Smyrna Mayor Joanne Masten. “The grant program will open doors for our wide range of developers and business owners with opportunities to further strengthen our town. We’re grateful that Governor Markell has made this initiative available to so many wonderful downtowns in Delaware.”
“We are extremely excited about our selection as a Delaware Development District partner with the State of Delaware,” said Milford Mayor Bryan Shupe. “The Downtown Development District application process has been a great experience for the City of Milford. It has allowed us to explore and evaluate the public and private, commercial, and residential assets within the downtown district.
“Determining an overall economic development strategy that encourages private investment from existing businesses and homeowners, as well as prospective investors, the City of Milford, has created a series of incentives that rewards individuals and businesses that enhance the quality of living within the district,” Shupe said. “The benefits created by the State of Delaware DDD program, including the potential for grants up to 20 percent of hard costs for private investments, will create a vibrant economic environment where public-private partnerships can create jobs and further economic opportunities in downtown Milford.”
“Harrington is very honored to accept the Governor’s Downtown Development District Designation and I feel this is exactly what Harrington needs to jumpstart its Downtown Revitalization,” said Harrington Mayor Anthony R. Moyer. “The City recently adopted a Downtown Development District Plan with input from the community, various organizations, downtown businesses and a Downtown Task Force with support from the City Council and Planning Commission. The Plan would not have been possible without the Neighborhood Building Blocks Grant Fund.
“The Town Council and I are committed to the revitalization of our downtown and firmly believe this designation, combined with significant local incentives, will help kick start both residential and commercial investment within our main commercial district,” said Georgetown Mayor Bill West
The DDD program, administered by the Delaware State Housing Authority, was created by legislation proposed by Governor Markell and passed unanimously in May 2014 by the General Assembly.
In early September, the Delaware State Housing Authority will launch a new funding round for large projects in each of Delaware’s Downtown Development Districts. Nearly $8 million in funding will be available for projects statewide. Applications to fund small projects – defined as investments of less than $250,000 in a designed downtown district – are accepted on a rolling basis.
“We’re thrilled to work with homeowners, developers, and small business owners to drive investment in all of the newly-designated districts,” said Anas Ben Addi, director of the Delaware State Housing Authority. “This program is working, and we’ve seen the proof in Wilmington, Dover and Seaford. We look forward to even more progress statewide.”
