The Downtown Development Districts Act of 2014 (the Act) was enacted by the General Assembly in order to:
Spur private capital investment in commercial business districts and other neighborhoods;
Stimulate job growth and improve the commercial vitality of such districts and neighborhoods;
Help build a stable community of long term residents by improving housing opportunities; and
Assist municipalities in strengthening neighborhoods while harnessing the attraction that vibrant downtowns hold for talented people, innovative small businesses and residents from all walks of life.
On August 10, 2016, Governor Jack Markell announced a statewide expansion of Delaware's Downtown Development District (DDD) program to include the City of Milford. Investors who make qualified improvements to residential, commercial, or industrial properties in Milford's District Area now may qualify for state and local development incentives.
The DDD program requires a District Plan to guide redevelopment and revitalization efforts. The City of Milford developed a downtown Master Plan in 2015 entitled Rivertown Rebirth 2025 to serve as the centerpiece to Milford's District Plan. This Master Plan includes a series of recommendations for large and small-scale projects and community redevelopment strategies to help guide development and redevelopment efforts in downtown Milford. In addition to the Master Plan goals, the District Plan strives to improve housing stock, reduce vacancy rates, promote home-ownership, establish long-term residency and strengthen the sense of community.
Milford's District Area includes 170 acres of land centered on the City's Central Business District and the Mispillion River. Click here for a copy of the Downtown Development District Map. State and local incentives include up to 20% rebates of "hard costs", historic preservation tax credits, waiver of City impact fees, building permit fees, realty transfer taxes and property tax abatements. Click here for an Overview of District Development Incentives.
Interested investors and property owners should contact Rob Pierce at email@example.com or by phone at 302-424-8396 for more information. Click here for the Application for Local Incentives. Below are documents and useful links to State websites providing program details and agency contacts.