Gov. Jack Markell is touting the expansion of the state’s Downtown Development Districts initiative in his weekly message.
Markell announced this week more cities will be selected for the program this year - and receive incentives to spur investment in their downtowns.
“Delaware’s downtowns will continue to serve as catalysts for economic development that will strengthen neighborhoods, improve the quality of life, and continue our state’s recent record of having the best job growth in the region," Markell said.
The incentives include giving investors who make qualified real estate investments in a downtown district grants for up to 20 percent of their costs.
The first round of Downtown Districts development attracted $160 million in private investment in Wilmington, Seaford, and Dover.
The Office of State Planning Coordination will review applications from cities and town in coming months, with a deadline of June 1st for proposals.
Full text of Gov. Markell's weekly message:
We create opportunity for all Delawareans and improve quality of life when we invest in our downtowns.
Individuals and businesses are increasingly attracted to work and live near urban centers, which play a crucial role in the economic and cultural life of our state. That’s why we started our Downtown Development District grant program, and it provides a variety of state and local government incentives, including grant rebates to offset the cost of residential, commercial, and industrial development in designated areas.
Our first round of districts in Wilmington, Dover, and Seaford used just shy of $10 million in state funds to attract $160 million in private investment. That includes a new mixed-use facility in Wilmington that will feature a parking garage, 200 apartments, and retail space that will attract more visitors for concerts, dining, and more. In Seaford, the program is supporting construction of two apartment buildings on the Nanticoke River, bringing more people to live and work in this key area for western Sussex County’s economy. And nonprofit developers are benefiting too. In Dover, Central Delaware Habitat for Humanity is building homes on vacant lots that are supporting new homeownership opportunities.
We can build on this success. In addition to continued support of our current districts, we’ve announced another opportunity for more local governments to propose their own downtown development districts. The Office of State Planning Coordination will review applications from cities and towns in the coming months and more information is available at stateplanning.delaware.gov.
Through leadership at the state and local level and the commitment of our private-sector and non-profit partners, Delaware’s downtowns will continue to serve as catalysts of economic development that will strengthen neighborhoods, improve the quality of life, and continue our state’s recent record of having the best job growth in the region. And that will keep Delaware moving forward.
