Downtown Development District Grant Applications Open in Delaware
Projects in Dover, Georgetown, Harrington, Laurel, Milford, Seaford, Smyrna and Wilmington Eligible For Funding
DOVER, DE — The Delaware State Housing Authority is accepting applications through December 15, 2017 for large project grants through the Downtown Development District Program. The grants provide up to 20 percent rebates on qualified real property investments in one of the eight designated downtown districts, in Dover, Georgetown, Harrington, Laurel, Milford, Seaford, Smyrna and Wilmington.
”The Downtown Development District Program has successfully spurred nearly $450 million in private investment with just $22 million in state funding,” said DSHA Director Anas Ben Addi. ”It continues to give a shot in the arm to our downtown communities, providing property owners, business owners and homeowners with an incentive to help keep our downtowns thriving and growing.”
The application period is for large property construction or redevelopment project investments of more than $250,000. Qualified applicants include property owners, tenants, for-profit developers, nonprofit organizations, businesses, and homeowners. Eligible project expenses include capital investments on rehabilitation, expansion or new construction for commercial, industrial, residential or mixed-use buildings within the district boundaries. Rebates are issued after the project is completed.
Applications for small projects — an investment of between $15,000 and $250,000 — are accepted on a rolling basis throughout the year contingent upon funding.
Applications for the large-project round must be received at DSHA by 4 p.m. on December 15, 2017. Additional information and application materials are at destatehousing.com/ddd or can be obtained by calling DSHA at 888-363-8808.
Dan Shortridge, DSHA