Gov. Jack Markell used his weekly message to tout the state’s first set of Downtown Development District grants.
Markell this week announced a total of $5.6 million dollars is being given to 13 projects in Wilmington, Dover and Seaford to help spur nearly $115 million in development.
He says these grants can be a powerful tool to reinvigorate downtown areas by encouraging this type of private investment.
“Funding through the DDD grant program is the extra boost needed to kickstart development and the return on the State’s investment is enormous," said Markell. "By incentivizing development in our downtowns, we’ll strengthen our economy and revitalize our neighborhoods.
The majority of grants went to Wilmington where 10 projects are receiving 4.7 million dollars in this first round of grants.
Full transcript of Gov. Markell's weekly address:
Much of our economy’s future growth must be driven by the vibrancy of our downtowns. More Americans are seeking dynamic and exciting urban environments and our ability to continue to create opportunities for Delawareans will depend, in large part, on whether we meet these demands.
That’s the motivation behind the Downtown Development District program, which was created to spur private investment in our cities and towns and to help build a stable community within them. This week I announced more than $5M in grant funding to our three designated Downtown Development Districts. The grant funding will leverage more than $114M in private investments in Seaford, Dover and Wilmington – a testament to the fact that, with the right incentives, Delaware’s downtowns are poised to grow and thrive again.
Long-time community partners like the Central Delaware Habitat for Humanity will have the funding to continue the tremendous work they do in downtown Dover, reinvesting in homes and transforming the lives of their neighbors. New businesses like the Residences at River Place planned in Seaford are given the needed resources to jumpstart construction that will transform the city’s downtown business district. And organizations like the Ministry of Caring, which faced unexpected construction costs, will now have funding to cover such expenses and continue building quality, affordable senior housing in Wilmington.
Funding through the DDD grant program is the extra boost needed to kickstart development and the return on the State’s investment is enormous. By incentivizing development in our downtowns, we’ll strengthen our economy and revitalize our neighborhoods and that will keep Delaware moving forward.
