Here’s a resource that may be overlooked during the COVID-19 shutdowns: The Delaware State Housing Authority (DSHA) just announced $9 million in funding available for Downtown Development District (DDD) project rebates.
You might think of these rebates as being for big developers only, but small business owners, nonprofits and even private homeowners may qualify for a rebate on renovations or other qualified investments in your restaurant, store, office or home located in an eligible downtown district — which includes parts of Wilmington, Dover, Clayton, Delaware City, Georgetown, Harrington, Laurel, Middletown, Milford, the City of New Castle, Seaford and Smyrna.
“Community development is central to DSHA’s mission, and we are pleased to be able to offer this funding to support continued economic growth in our downtowns,” said DSHA Director Anas Ben Addi. “We know many businesses and homeowners across our state are grappling with the impacts of the COVID-19 crisis, and we want to remind them that the DDD program can be a valuable resource during this time. Funding is available for restaurants working on renovations, a property owner looking to upgrade office space or the homeowner undergoing an extensive residential rehab project.”
$2 million of the funding is available for small projects between $25,000 and $350,000, with applications accepted throughout the year on a rolling basis. The other $7 million is for large property construction or redevelopment project investments of more than $350,000, with applications due by June 1.
Eligible applicants include property owners, tenants, businesses, nonprofit organizations, homeowners and for-profit developers who make Qualified Real Property Investments (QRPI). Funding is issued as a rebate after the renovation, expansion or new build project is completed.
To see if your project falls within a DDD zone, check out this interactive map. For all of the guidelines, forms and info needed to apply (including past awardees and annual reports), go to the DSHA’s DDD page.
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