Milford is Open for Business

Milford Named a Downtown Development District in 2016

The Downtown Development Districts Act of 2014 (the Act) was enacted by the Delaware 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.

DSHA Small Project Grant Program

The Small Project Set-Aside is for program eligible Investors that make Qualified Real Property Investments (QRPIs) of $25,000 to $350,000. Investors that make a $25,000 or greater QRPI are entitled to a Grant in an amount equivalent to 20% of the QRPI up to $70,000 per building or facility. DSHA will accept applications for Small Projects throughout the year; as long as funding is available. Investors have the option to apply for a Lite-Reservation or wait to apply for a Grant after the project is fully completed and placed in service. To apply for a Lite-Reservation the Investor must meet the minimum threshold, and Building permit requirements.

DSHA Large Project Grant Program

The Large Project Set-Aside is for program eligible Investors that make QRPIs in excess of $350,000. Rebates for QRPIs between $350,000 and $2,500,000 are calculated at a rate of 20%. Rebates for QRPIs greater than $2,500,000 are calculated at a lower rate up to $1,500,000 per building or facility. Large Project Investors must apply for a Reservation in order to be considered for a DDD Grant. In the event DSHA receives Reservation requests that exceed the amount of available funding, applications that address the established priorities will receive special consideration.

• Identified in District Plan as Priority Project
• Readiness to Proceed
• Creates Permanent Jobs
• Creates or Sustains Mixed-Use Development
• Expands Housing Opportunities
• Protects Historic Resources
• Adaptively Reuses Existing Structures
• Promotes Sustainable Practices

An Attestation of Costs by a Certified Public Accountant (CPA) is required for all Large Projects.

City of Milford Incentives for Qualifying Projects

• Full waiver of sewer, water and electric impact fees.
• Waiver of building permit fee and other associated City fees.
• Rehabilitation projects that increase the assessed value by more than 50% receive a full abatement of City taxes for 10 years.
• Rehabilitation projects that increase the assessed value by less than 50% receive a partial abatement of City taxes for 10 years.
• New residential or commercial construction will receive a full tax abatement for 5 years.
• Properties converted from residential rental units to owner occupied housing will receive a full tax abatement for 10 years.
• Realty Transfer tax waiver for first-time homebuyer.

Rob Pierce
District Administrator
Phone: (302) 424-8395
Email

Sara Bluhm
Assistant District Administrator
Phone: (302) 725-2068
Email

More information here