GEORGETOWN, Del. - Georgetown officials are weighing whether to renew the town’s state-designated Downtown Development District, a decision that could shape the future of the downtown area and influence small businesses, property owners and long-term economic growth.
Town Council is considering applying to renew the designation for another five years. The Downtown Development District program, administered by the Delaware State Housing Authority (DSHA), offers funding and financial incentives aimed at improving downtown areas through renovation, expansion and new development.
For downtown business owner Olga Monterrosa, the district has played a key role in helping entrepreneurs get established.
"Well, for me, these programs are like a support system. They're the ones that open doors for us small entrepreneurs. So I think that's a real advantage," said Monterossa.
Monterrosa said the assistance provided through the program helps business owners who may lack the financial resources or confidence to start on their own. She said encouragement and access to opportunities can make a significant difference for those trying to build a future downtown.
"Sometimes there are many of us who don't have the strength to start, but then these people come along and give you the motivation, they tell you, 'You can do it.' And then you start to see and you say, 'Yes, I can,'" said Monterossa.
The Downtown Development District program allows qualifying businesses and property owners to apply for state grants and incentives, which some say can make otherwise unaffordable projects possible.
Charlie Koskey, another downtown business owner, said he thinks this program is great for the future of Georgetown.
"Anytime we can partner with outside groups, including the state, to help improve services for local citizens and visitors, that’s a good thing," Koskey said.
In addition to considering renewal, town officials are also reviewing potential changes to the district’s boundaries. Officials say the program’s benefits extend beyond individual businesses and contribute to the broader local economy.
"It brings more opportunities for businesses within town, which ultimately benefits our residents," said Gene Dvornick, a Georgetown town manager.
The town says that Georgetown has participated in the Downtown Development District program for about a decade. Officials say renewing the designation could help guide how downtown develops in the coming years, particularly as the town looks to balance growth with community needs.
A public hearing is scheduled for next Monday before the town submits its application to the state.
Town leaders say the decision will play a key role in shaping Georgetown’s downtown for the next five years.