SPONSOR: Rep. Dorsey Walker & Sen. Paradee Reps. Bush, Cooke, D. Short; Sens. Sokola, Hansen, Hoffner, Lawson HOUSE OF REPRESENTATIVES 152nd GENERAL ASSEMBLY HOUSE CONCURRENT RESOLUTION NO. 130 RECOGNIZING THE MONTH OF MAY AS THE ANNIVERSARY OF THE DOWNTOWN DEVELOPMENT DISTRICT PROGRAM.
SPONSOR: Rep. Dorsey Walker & Sen. Paradee Reps. Bush, Cooke, D. Short; Sens. Sokola, Hansen, Hoffner, Lawson
SPONSOR: Rep. Dorsey Walker & Sen. Paradee
Reps. Bush, Cooke, D. Short; Sens. Sokola, Hansen, Hoffner, Lawson
SPONSOR:
Rep. Dorsey Walker & Sen. Paradee
Reps. Bush, Cooke, D. Short; Sens. Sokola, Hansen, Hoffner, Lawson
HOUSE OF REPRESENTATIVES
152nd GENERAL ASSEMBLY
HOUSE CONCURRENT RESOLUTION NO. 130
RECOGNIZING THE MONTH OF MAY AS THE ANNIVERSARY OF THE DOWNTOWN DEVELOPMENT DISTRICT PROGRAM.
WHEREAS, 2024 marks the tenth anniversary of the passage of the Downtown Development Districts (DDD) Act, which was established to facilitate private investment in designated business corridors and adjacent neighborhoods, addressing financial barriers and redevelopment challenges in downtown areas; and WHEREAS, under this Act, funding was allocated to the Delaware State Housing Authority (DSHA) through the General Assembly to establish and administer the DDD Rebate Program; and WHEREAS, investors who make Qualified Real Property Investments (QRPI) such as new construction, renovation, and adaptive reuse of vacant buildings for commercial, industrial, residential, and mixed-use purposes may apply to DSHA for a DDD Rebate; and WHEREAS, local governments identify an area in their downtowns for revitalization and develop a District Plan and local incentives, the Office of State Planning Coordination (OSPC) facilitates the application process for designation as a District, and the Cabinet Committee on State Planning Issues evaluates the applications and makes recommendations to the Governor for final designation; and WHEREAS, the 12 districts, dispersed across the state, include Clayton, Delaware City, Dover, Georgetown, Harrington, Laurel, Middletown, Milford, New Castle, Seaford, Smyrna, and Wilmington; and WHEREAS, since its inception, the DDD program has paid out $35 million in rebates and attracted $527 million in private investment into Delawares downtown districts; and WHEREAS, in FY2023 alone, a total of 63 development projects were completed, receiving $10.9 million in state funds, and leveraging $170 million in private investment; and WHEREAS, with ongoing projects and strong demand for funding, optimism prevails for the future of Delaware's downtowns and the opportunities they offer. NOW, THEREFORE: BE IT RESOLVED by the House of Representatives of the 152 nd General Assembly of the State of Delaware, the Senate concurring therein, that in May 2024 the General Assembly recognizes the success of the Downtown Development District Program on the tenth anniversary of its establishment.
WHEREAS, 2024 marks the tenth anniversary of the passage of the Downtown Development Districts (DDD) Act, which was established to facilitate private investment in designated business corridors and adjacent neighborhoods, addressing financial barriers and redevelopment challenges in downtown areas; and
WHEREAS, under this Act, funding was allocated to the Delaware State Housing Authority (DSHA) through the General Assembly to establish and administer the DDD Rebate Program; and
WHEREAS, investors who make Qualified Real Property Investments (QRPI) such as new construction, renovation, and adaptive reuse of vacant buildings for commercial, industrial, residential, and mixed-use purposes may apply to DSHA for a DDD Rebate; and
WHEREAS, local governments identify an area in their downtowns for revitalization and develop a District Plan and local incentives, the Office of State Planning Coordination (OSPC) facilitates the application process for designation as a District, and the Cabinet Committee on State Planning Issues evaluates the applications and makes recommendations to the Governor for final designation; and
WHEREAS, the 12 districts, dispersed across the state, include Clayton, Delaware City, Dover, Georgetown, Harrington, Laurel, Middletown, Milford, New Castle, Seaford, Smyrna, and Wilmington; and
WHEREAS, since its inception, the DDD program has paid out $35 million in rebates and attracted $527 million in private investment into Delawares downtown districts; and
WHEREAS, in FY2023 alone, a total of 63 development projects were completed, receiving $10.9 million in state funds, and leveraging $170 million in private investment; and
WHEREAS, with ongoing projects and strong demand for funding, optimism prevails for the future of Delaware's downtowns and the opportunities they offer.
NOW, THEREFORE:
BE IT RESOLVED by the House of Representatives of the 152 nd General Assembly of the State of Delaware, the Senate concurring therein, that in May 2024 the General Assembly recognizes the success of the Downtown Development District Program on the tenth anniversary of its establishment.
SYNOPSIS This Concurrent resolution recognizes the Success of the Downtown Development District (DDD) Program on the tenth anniversary of its establishment.
SYNOPSIS
This Concurrent resolution recognizes the Success of the Downtown Development District (DDD) Program on the tenth anniversary of its establishment.