Del. Downtown Development Ready for Ideas - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Del. Downtown Development Ready for Ideas

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DELAWARE – The money is ready to spend for those with downtown revitalization ideas, according to Delaware State Housing Authority.

Gov. Jack Markell announced Tuesday that $7 million is now available for investment into recently designated areas in Wilmington, Dover, and Seaford.

“Downtown Development Districts will spur private capital investment in commercial business districts, stimulate job growth, help build a stable community of long term residents by improving housing opportunities, and strengthen our neighborhoods,” Markell said. “The DDD Grant Program offers the opportunity to generate a surge of cultural, real estate, and business activity that could reinvigorate declining areas of our cities.”

DSHA Director Anas Ben Addi added, “After many rounds of outreach and gathering feedback, we are excited to launch this program. In structuring the grant allocation process, we tried to be fair to all projects and districts, regardless of the size or location. The $7 million funding will allow us to attract at least $35 million worth of private investments to the designated Districts.”

The DDD Act of 2014 was enacted by General Assembly to spur private investment in commercial business districts and other neighborhoods, improve the commercial vitality of our cities and towns, and help build a stable community of long-term residents in our downtowns and other neighborhoods, according to DSHA.

State and local incentives are available to businesses and district investors who invest within the Downtown Development District boundaries.

Examples of eligible projects include exterior, interior, structural, mechanical or electrical improvements, excavations, grading and paving, installing driveways, landscaping or land improvements, and demolition, according to DSHA.

Developers, homeowners, or business owners interested in investing in the DDDs may apply directly to DSHA at http://DeStateHousing.com.

Projects seeking a Large Project reservation must apply by March 20, 2015. Small Project applications will be accepted on an ongoing basis, according to DSHA.

To view the Downtown Development Districts Grant Program, visit: http://www.destatehousing.com/Developers/dv_ddd.php.

Visit the Office of State Planning Coordination website at http://www.stateplanning.delaware.gov/ddd/ to learn about additional available programs that may be used in combination with the DDD Grant.

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