GEORGETOWN, Del. — Revitalization projects in Georgetown and Smyrna are receiving more than $1 million combined through Delaware’s Downtown Development Districts rebate program.
The Delaware State Housing Authority awarded Little Living Org. Inc. in Georgetown a $620,000 funding reservation, while Mach Investments LLC in Smyrna received a $412,000 reservation.
The two projects are among eight large revitalization projects receiving $3.43 million in funding reservations statewide. DSHA said the overall awards are expected to leverage nearly $22 million in private investment.
The funding will support new construction and rehabilitation of commercial, mixed-use and residential properties in designated downtown districts.
“Strong downtowns are the heartbeat of strong communities,” Gov. Matt Meyer said. “The Downtown Development District program is helping turn vacant and underused properties into places where families can live, businesses can grow, and communities can thrive — all while attracting millions in private investment across Delaware.”
DSHA said every $1 invested by the state through the Downtown Development Districts program leverages nearly $15 in private investment.
The Large Project Reservation Application process is competitive, with applications evaluated according to criteria and priorities included in program guidelines. A reservation guarantees that funding will be available, but the final rebate is determined after a project is completed and a final application is submitted.
In addition to the Georgetown and Smyrna awards, projects in Wilmington and Dover also received funding. Office Partners XIX Brandywine LLC received a combined $973,000 for two Wilmington projects, while Loockerman Plaza LLC in Dover received $680,000. Tatnall West II LLC received $343,844, Leroy Tice Esquire received $210,000 and Nas Homes LLC received $194,500 for Wilmington projects.
Georgetown and Smyrna are among Delaware’s 12 existing Downtown Development Districts. The other districts are Dover, Wilmington, Seaford, Harrington, Laurel, Milford, New Castle, Clayton, Delaware City and Middletown.
About $66,000 remaining from this year’s $3.5 million funding round will be transferred to the program’s small-project set-aside for the remainder of the funding cycle.
