2024 DDD Fall Funding Round Now Open!!
2024 DDD Fall Funding Round Now Open!!
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 $5.5 million in rebate funding is currently available to qualified investors, $3.5 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 February 27, 2025, 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.
The Large Project Reservation Application process is a competitive process. DSHA anticipates receiving applications well in excess of the funding available for this round; therefore, DSHA cannot guarantee a Rebate Reservation will be awarded or the rebate reservation will be for the amount requested with the application. Applications will be awarded to the top ranked applications based on criteria and priority as outlined in the program guidelines.
Please visit DSHA’s website at http://destatehousing.com/Developers/dv_ddd.php to download the Fall 2024 DDD Rebate Program Guidelines and revised applications materials. Additionally, historic tax credits and other local and state incentives are available to investors! To learn more about other DDD incentives, please visit https://stateplanning.delaware.gov/ddd/incentives/index.shtml.
If you have any questions regarding DSHA’s DDD Rebate Program and application process, please contact me by phone at (302) 739-4263 or by email at Kimberly.Edwards@delaware.gov