Laurel Local Incentives
Graduated reduction in sewer and water impact fees
Water and sewer impact fees up to $7,000 per equivalent dwelling unit (EDU) qualify. 1 to 3 EDUs – 40% reduction; 4 to 7 EDUs – 50% reduction; 8 or more EDUs – 60% reduction.
No town property taxes on improvements for five years after CO is issued
Property taxes on improvements are waived for 5 years from the date a CO is issued.
Minimum markdown of 25% off appraised value of LRC properties
Applies to projects owned by LRC Board along the Broad Creek waterfront
Project PopUp - three months' free rent
Applies to start-up businesses locating on LRC rental properties.
Comprehensive Community Improvement Program
Promotion of home ownership within DDD through rehabilitation of homes and acquisition and rehabilitation of vacant properties.
Free lot (town-owned) at Market and Oak Streets
Laurel will donate this parcel to the LRC or a developer for use that realizes the DDD vision and goals.
Tourism marketing/social media training for DDD businesses
The town will provide training in marketing and social media to any business to promote them along with the downtown.
Purchase and remediation of strategic parcels within DDD (Ramble footprint)
LRC will purchase and remediate two parcels already identified parcels in the DDD for remediation.
Installation of trail network, nature- based playground and low-impact stormwater practices within Ramble as an amenity for residential and commercial development
The town is seeking funding to install low-impact green stormwater infrastructure, and a trail network in the Ramble area to add to the amenities that a new developer would not have to provide.
First time homebuyers waiver of town portion or realty transfer tax – Town wide
The town will waive the town portion of the realty transfer tax for first time homebuyers
Website: Town of Laurel
Phone: (302) 875-2277