To achieve revitalization goals, the DIA provides numerous resources to developers and those looking to invest Downtown. In addition to administering development and redevelopment agreements, allocating development rights, creating public/private partnerships and providing enhanced public amenities, the DIA provides many program-specific incentives, listed below.
Please note: Interested applicants must complete an application form, project pro-forma and project proﬁle assessment form (together with any other ﬁnancial information requested by DIA and reasonably necessary to evaluate ﬁnancial gap or need and the accuracy of construction costs, ﬁnancing commitments, etc.) and submit all to the DIA for staff review and evaluation.
Some development incentives are available Downtown without regard to job creation or specific property use. The following incentives are available for any Downtown development/redevelopment:
- No state income tax
- Simplified zoning
- No parking requirements
- Stormwater quality credits available for purchase
- Allocation of development rights free of mobility fees
- Reduced mobility fee rates compared to other zones
- Registration as a National Historic District
- Qualification for federal Historic Tax Credits
Steven T. Kelley, DBA
Director of Downtown Real Estate and Development