Downtown Development District

Investors who make Qualified Real Property Investments (QRPI) to commercial, industrial, residential, and mixed-use buildings or facilities in designated areas may apply to Delaware State Housing Authority for a DDD Rebate of up to 20% of QRPI. 

The Downtown Development Districts Act was created to leverage state resources in a limited number of designated areas in Delaware’s cities and towns to spur private capital investment in commercial business districts and other neighborhoods; stimulate job growth and improve the commercial vitality of our cities and towns; and help build a stable community of long-term residents in our downtowns and other neighborhoods. The Wilmington DDD is contiguous and represents 221.9 acres of space. The residential neighborhoods of downtown Wilmington that surround the central business district and are part of the Downtown Development District include West Center City, the Creative District (including Quaker Hill), and East Side. These neighborhoods correspond generally to the following census tracts:

Census tracts 9, 29: East Side

Census tracts 16, 21: West Center City

Census tract 28: Creative District

  1. The Minimum Qualified Investment Threshold (MQIT) for Large Projects is the minimum amount of Qualified Real Property Investments (QRPI) required to be made by an Investor to qualify for a Large Project DDD Grant. The MQIT for Large Projects is treated similar to a deductible and is not eligible for a Grant.
  2. There is no MQIT (deductible) for Small Projects; however, there is minimum QRPI of $25,000 required to be considered eligible for the program.
  3. DDD Grants are limited to $1,500,000 per building or facility within a five-consecutive-year period, starting with the year in which a grant is first awarded or reserved. A $1,500,000 Grant requires a QRPI greater than $41,000,000.
  4. The QRPI must be made within the boundaries of a designated DDD
  5. The QRPI must be in excess of the required MQIT (deductible) and minimum QRPI for the specific set-aside.
  6. The Investor must meet site control requirements (e.g. legal title, sales agreement, or owner’s consent).

 

 

Category: State, Local

Angel Investor Tax Credit provides a refundable tax credit for qualified investors in innovative, Delaware-based small businesses – connecting talented, high-tech entrepreneurs with new sources of capital.
Learn More about Angel Investor Tax Credit

Brownfield Assistance Program offers matching grants to property owners and developers to encourage redevelopment of environmentally stressed sites.* *Applications for this program must go before the Council on Development Finance.
Learn More about Brownfield Assistance Program

Delaware Capital Access Program helps lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issue
Learn More about Delaware Capital Access Program

Delaware Strategic Fund is the Division’s primary funding source to support business retention and expansion through grants and low-interest loans to projects that grow the state’s economy in a significant way.* *Applications for this program must go before the Council on Development Finance.
Learn More about Delaware Strategic Fund

Delaware Technical Innovation Program offers transition grants for companies that have completed Phase I and applied for Phase II of the federal Small Business Innovation Research or Small Business Technology Transfer programs as they work to bring new products to market.
Learn More about Delaware Technical Innovation Program

The Division of Small Business awards EDGE Grants through a competitive selection process. STEM-based companies can receive up to $100,000 for eligible expenses. Entrepreneur Class (non-STEM) businesses can get up to $50,000. The funds are provided as a $3 (state) to $1 (business) match. And...
Learn More about EDGE Grants

Wilmington’s Opportunity Zone creates a unique opportunity for those looking to invest in a growing metropolitan area while simultaneously receiving tax incentives. Investors can defer tax on any prior gains so long as the gain is reinvested in a Qualified Opportunity Fund. If the investor...
Learn More about Opportunity Zones

State Small Business Credit Initiative Participation Loan help lenders to provide financing to businesses deemed too risky for the traditional banking model due to minor collateral or credit issues.
Learn More about State Small Business Credit Initiative Participation Loan

Tax-Exempt Bond Financing allows the Division to act as the conduit issuer on bond for tax-exempt, non-profit organizations.  
Learn More about Tax-Exempt Bond Financing

Workforce Training Grant is a matching program that funds specialized training for companies of up to $100,000 per project.
Learn More about Workforce Training Grant