Mayor Williams Urges Capital Budget Committee to Fund Downtown Development Districts Initiative
Posted on 06/06/2014 5:59 pm
"The Downtown Development Districts initiative will not only strengthen the various communities, but also, the entire state's quality of life and economic well-being; therefore I urge members of the capital budget committee to fully fund the initiative. Governor Markell's Downtown Development Districts initiative looks to directly improve communities suffering from urban blight, crime, and a lack of economic growth.
"The City of Wilmington continues to work toward revitalizing our neighborhoods, bringing new energy downtown, and making our streets safer. When Wilmington and other cities throughout the state build more vibrant, thriving downtown communities, it will support Delaware's growth and development as a state that attracts talented young professionals and innovative small businesses," said Mayor Dennis P. Williams.
Highlights of the Downtown Development Districts Initiative
- The $7 million proposed by Governor Markell will allow as many as 15 Development Districts to address the needs of redevelopment, new construction, beautification, and economic development.
Investors would be entitled to grants administered by the Delaware State Housing Authority valued at up to 20 percent of their construction costs.