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Governor’s Weekly Message: Spurring Economic Activity through Downtown Development Districts

Former Governor Jack Markell (2009-2017) | Kent County | New Castle County | Sussex County | Date Posted: Friday, August 8, 2014



Dover – In his weekly message, Governor Markell announces the application process is open for cities and towns to participate in the Downtown Development Districts program, with applications due by November 1.

“Downtown Development Districts will spur private capital investment in commercial business districts, stimulate job growth, help build a stable community of long term residents by improving housing opportunities; and strengthen our neighborhoods,” said Governor Markell. “By spurring economic activity in our downtowns, Delaware will attract more talented people, innovative small businesses and residents from all walks of life. And that will keep Delaware moving forward.”

Created by Senate Bill 191 and funded in the FY 2015 Bond Bill at $7 million, the initiative provides economic development and other incentives that promote revitalization of downtown areas and surrounding neighborhoods selected through the application process. Localities will be able to apply to have a portion of their city, town, or unincorporated area designated as a Downtown Development District (DDD).  Applications are available online and will be evaluated using three main criteria: (1) need; (2) the quality of the development plan submitted by the applicant; and (3) local incentives offered. The Governor will select at least one but no more than three Districts this year. Under the program, the first three Districts must include one District in each county.

Following designation, investors in the selected Districts will be entitled to grants of up 20 percent of their construction costs. Grants will be available for all types of projects (residential, commercial, and mixed-use), and may be used by for-profit builders and investors, nonprofit organizations, businesses, and homeowners. The grants will be administered by the Delaware State Housing Authority (DSHA). In addition, several state agencies will offer targeted incentives in DDDs to improve neighborhoods, enhance economic development, and otherwise enhance quality of life in these Districts.

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

YouTube: http://youtu.be/ccIjttp15hE
Delaware.Gov:  http://governor.delaware.gov/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: www.facebook.com/governormarkell
Twitter:  www.twitter.com/governormarkell

Transcript of the Governor’s Weekly Message  Spurring Economic Activity through Downtown Development Districts

“Our continued economic success is dependent on ensuring individuals and businesses can grow and thrive in safe and vibrant communities across our state. That was the motivation behind a proposal we unveiled this spring to create Downtown Development Districts in every county in the next few years. These designated areas would offer affordable residential, commercial, and industrial development, while using historic preservation tax credits and prioritizing state projects that will help revitalize and reinvigorate the communities.

To ensure this program gets off to a good start, we asked municipal officials and other community leaders to lend their insight and expertise. Their feedback is incorporated into the final application for cities and towns, which is now available online at stateplanning.delaware.gov/DDD. Applications are due by November 1st and the Office of State Planning stands ready to assist applicants with any questions they may have.

Through this program, we have the opportunity to generate a surge of cultural, real estate, and business activity that could jumpstart underdeveloped areas of our cities. Downtown Development Districts will spur private capital investment in commercial business districts, stimulate job growth, help build a stable community of long term residents by improving housing opportunities; and strengthen our neighborhoods.

By spurring economic activity in our downtowns, Delaware will attract more talented people, innovative small businesses and residents from all walks of life. And that will keep Delaware moving forward.”

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Governor’s Weekly Message: Spurring Economic Activity through Downtown Development Districts

Former Governor Jack Markell (2009-2017) | Kent County | New Castle County | Sussex County | Date Posted: Friday, August 8, 2014



Dover – In his weekly message, Governor Markell announces the application process is open for cities and towns to participate in the Downtown Development Districts program, with applications due by November 1.

“Downtown Development Districts will spur private capital investment in commercial business districts, stimulate job growth, help build a stable community of long term residents by improving housing opportunities; and strengthen our neighborhoods,” said Governor Markell. “By spurring economic activity in our downtowns, Delaware will attract more talented people, innovative small businesses and residents from all walks of life. And that will keep Delaware moving forward.”

Created by Senate Bill 191 and funded in the FY 2015 Bond Bill at $7 million, the initiative provides economic development and other incentives that promote revitalization of downtown areas and surrounding neighborhoods selected through the application process. Localities will be able to apply to have a portion of their city, town, or unincorporated area designated as a Downtown Development District (DDD).  Applications are available online and will be evaluated using three main criteria: (1) need; (2) the quality of the development plan submitted by the applicant; and (3) local incentives offered. The Governor will select at least one but no more than three Districts this year. Under the program, the first three Districts must include one District in each county.

Following designation, investors in the selected Districts will be entitled to grants of up 20 percent of their construction costs. Grants will be available for all types of projects (residential, commercial, and mixed-use), and may be used by for-profit builders and investors, nonprofit organizations, businesses, and homeowners. The grants will be administered by the Delaware State Housing Authority (DSHA). In addition, several state agencies will offer targeted incentives in DDDs to improve neighborhoods, enhance economic development, and otherwise enhance quality of life in these Districts.

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

YouTube: http://youtu.be/ccIjttp15hE
Delaware.Gov:  http://governor.delaware.gov/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: www.facebook.com/governormarkell
Twitter:  www.twitter.com/governormarkell

Transcript of the Governor’s Weekly Message  Spurring Economic Activity through Downtown Development Districts

“Our continued economic success is dependent on ensuring individuals and businesses can grow and thrive in safe and vibrant communities across our state. That was the motivation behind a proposal we unveiled this spring to create Downtown Development Districts in every county in the next few years. These designated areas would offer affordable residential, commercial, and industrial development, while using historic preservation tax credits and prioritizing state projects that will help revitalize and reinvigorate the communities.

To ensure this program gets off to a good start, we asked municipal officials and other community leaders to lend their insight and expertise. Their feedback is incorporated into the final application for cities and towns, which is now available online at stateplanning.delaware.gov/DDD. Applications are due by November 1st and the Office of State Planning stands ready to assist applicants with any questions they may have.

Through this program, we have the opportunity to generate a surge of cultural, real estate, and business activity that could jumpstart underdeveloped areas of our cities. Downtown Development Districts will spur private capital investment in commercial business districts, stimulate job growth, help build a stable community of long term residents by improving housing opportunities; and strengthen our neighborhoods.

By spurring economic activity in our downtowns, Delaware will attract more talented people, innovative small businesses and residents from all walks of life. And that will keep Delaware moving forward.”

image_printPrint

Related Topics:  , , , ,


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.