2022 Rebate Program now Open for Downtown Development Districts
The Delaware State Housing Authority (DSHA) is pleased to announce that the Downtown Development Districts (DDD) Rebate Program is now open and accepting applications! The DDD Rebate program is designed to spur private capital investment, stimulate job growth, improve the commercial vitality of our cities, and help build stable communities of long-term residents in our downtowns. Currently, there are twelve (12) designated Districts: City of New Castle, Clayton, Delaware City, Dover, Georgetown, Harrington, Laurel, Middletown, Milford, Seaford, Smyrna and Wilmington.
Approximately $12 million in rebate funding is currently available to qualified investors, $10 million for Large Projects and $2 million for Small Projects. To be considered for a Large Project Reservation, investors must make a Qualified Real Property Investment (QRPI) greater than $350,000 and apply to DSHA no later than June 17, 2021 by 4:00 p.m. Investors making a QRPI between $25,000 and $350,000 may apply on a rolling basis, as long as funding is available.
DSHA is pleased to announce that the rebate limit per building or facility within a five-consecutive year period has been increased from $1,500,000 to $2,000,000. To receive the maximum rebate investors need a Qualified Real Property Investment (QRPI) of at least $27,500,000.
Please visit DSHA’s website to download the Spring 2021 DDD Rebate Program Guidelines and revised applications materials. Additionally, historic tax credits and other local and state incentives are available to investors! Learn more about other DDD incentives.