DELAWARE - The Delaware State Housing Authority has announced the opening of the Downtown Development Districts Rebate Program, which aims to encourage private investment, boost job growth and revitalize downtown areas.
The program is available in 12 designated districts: Milford, Georgetown, Harrington, Laurel, Seaford, Dover, New Castle, Clayton, Smyrna, Delaware City, Middletown and Wilmington.
According to DSHA, approximately $5.5 million in rebate funding is available for qualified investors, with $3.5 million allocated for large projects exceeding $350,000 in Qualified Real Property Investments and $2 million for small projects with investments between $25,000 and $350,000. Applications for large projects must be submitted by Feb. 27, 2025, at 4 p.m., while applications for small projects will be accepted on a rolling basis until funding is gone.
The program's application process prioritizes projects based on criteria outlined in the program guidelines. Additional incentives, such as historic tax credits and local and state benefits, are also accessible to participants.
For more information, visit DSHA's DDD program page or learn about other DDD incentives at Delaware State Planning.