The Downtown Development Districts Act of 2014 (the Act) was enacted by the General Assembly in order to:
- Spur private capital investment in commercial business districts and other neighborhoods;
- Stimulate job growth and improve the commercial vitality of such districts and neighborhoods;
- Help build a stable community of long term residents by improving housing opportunities; and
- Assist municipalities in strengthening neighborhoods while harnessing the attraction that vibrant downtowns hold for talented people, innovative small businesses and residents from all walks of life.
This is accomplished through local governments designating Districts and developing corresponding District Plans to support the goals of this Act. Once accepted into this program, the District Plan will serve as the focal point for coordinated action by state, local, and private entities.
One of the incentives available to investors in these areas is the Downtown Development District Grant program (District Grant). Eligibility for the District Grant is based on Qualified Real Property Investments (QRPI) made to commercial, industrial, residential, and mixed-use buildings or facilities located within the boundaries of a District.
District Grant funds will be administered by the Delaware State Housing Authority (DSHA). The Draft Summary and Draft Program Manual are available below.
For more information on Downtown Development District Act and how municipalities can obtain a District designation, visit the Office of State Planning Coordination.
Interested in additional Neighborhood Development funding opportunities? Please visit the Delaware Economic Development Office's Neighborhood Building Blocks Program.