DSHA announces Downtown Development Districts funding
Gov. John Carney and the Delaware State Housing Authority (DSHA) on Thursday announced that eight new downtown revitalization projects in Milford, Dover and Wilmington will receive $4.6 million in rebate funding through Delaware’s Downtown Development Districts (DDD) program.
Established in May 2014, the DDD program was created to spur private capital investment in commercial business districts and other neighborhoods and stimulate job growth and improve the commercial vitality of cities and towns.
Since 2015, the program has leveraged $29.3 million in rebates toward $551 million in private investment in designated downtown districts in all three counties.
“The DDD program has been a central part of our efforts to revitalize Delaware’s downtown business districts and drive private investment in our towns and cities. In just a few years, the DDD program has leveraged significant private investment in a wide variety of projects.” said Carney. “Encouraging private investment that also revitalizes our downtown business districts and surrounding neighborhoods is the goal of the DDD program, and we’re thrilled that it has been so successful.”
The DDD program is currently available in eight designated districts: Dover, Georgetown, Harrington, Laurel, Milford, Seaford, Smyrna and Wilmington. Existing districts can also apply to have their district expanded, increasing the opportunity within their cities and towns for DDD-funded projects.
“The DDD program is doing exactly what we intended ““ attracting significant private investment to our downtowns,” said Anas Ben Addi, Director of the Delaware State Housing Authority. “We’re excited to support new projects that are bringing businesses and jobs downtown, renovating vacant buildings, supporting historic preservation, and creating homes in Delaware’s towns and cities.”