Developers

NEW Development Funding Available!
Downtown Development Districts Grant Program

Owners or tenants (Investors) who make qualified real property investments in a designated Downtown Development District (DDD) are entitled to receive grants of up to 20% of the cost of their investments. This includes for-profit builders and investors, nonprofit organizations, businesses, and even homeowners. However, governments are not eligible for DDD Grants.

The DDD Grant program is administered at the State level by the Delaware State Housing Authority (DSHA). Anyone seeking to apply for a DDD Grant should apply directly with DSHA, not the municipality in which the DDD is located.

Strong Neighborhoods Housing Fund

The Delaware State Housing Authority (DSHA) received approximately $5,500,000 from various financial mortgage settlements to maintain the Strong Neighborhoods Housing Fund (SNHF). The SNHF is set up as a revolving fund to be used for the acquisition, renovation, and sale of vacant, abandoned, foreclosed or blighted property throughout the State. The funds are targeted for efforts that:

  • Support community development, and/or
  • Transform neighborhoods that are experiencing blight or other forms of stress, including high crime.

Affordable Rental Housing

Housing Development Fund

This program is designed to provide financing for developers and homeowners through sponsoring agencies. Types of developments that will be considered include, but are not limited to, the acquisition and/or rehabilitation of existing housing, the adaptive reuse of nonresidential buildings, and new construction. Both rental and for-sale housing will be considered.

The Housing Development Fund is available statewide to both nonprofit and for-profit developers for low- and moderate-income housing in Delaware.

Related:
Where can I find cost certification guidelines?

HOME Investment Partnerships (HOME)

This federal program is offered statewide by DSHA and provides financial assistance to affordable housing providers, often in conjunction with Housing Development Fund financing. Nonprofit and for-profit developers and other housing agencies may apply for HOME financial assistance for acquisition, demolition, new construction, reconstruction, conversion or rehabilitation of single- or multi-family housing and transitional/group housing.

Low Income Housing Tax Credits (LIHTC)

This statewide program provides a direct federal income tax credit to qualified owners and investors to build, acquire or rehabilitate rental housing units to rent to working low-income Delawareans. It allows both corporate and private investors to receive a fair return on their investment in affordable housing. The equity raised through the tax credit investment makes it possible for developers to attract the financing needed to create or restore low-income rental housing.

Related:
Where can I review the most current QAP?
Where can I find the most recent tax credit allocation list?

National Housing Trust Fund (NHTF)

NHTF is a new affordable housing production program that will complement existing Federal, State, and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low-income (ELI) and very low-income households (VLI), including homeless families.

Funding for the NHTF comes from an assessment on loans made by Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Association (Fannie Mae). For Fiscal Year 2016, Delaware will receive $3 million.

Multi-Family Mortgage Revenue Bond Program (MFMRB)

This statewide program permits DSHA, through the issuance of tax-exempt mortgage revenue bonds to finance the acquisition, new construction or substantial rehabilitation of apartment complexes which are available for rent to low-income individuals and families. It allows both corporate and private investors to receive a fair return on their investment in affordable housing. The program allows individuals, as well as limited partnerships who own rental housing for low-income families, to utilize the credit.

Bond financing requests are considered on a case by case basis. Tax exempt issues are limited by the size of the state's allocation of tax exempt bond authority.



Affordable Homeownership

Housing Development Fund

This program is designed to provide financing for developers and homeowners through sponsoring agencies. Types of developments that will be considered include, but are not limited to, the acquisition and/or rehabilitation of existing housing, the adaptive reuse of nonresidential buildings, and new construction. Both rental and for-sale housing will be considered.

The Housing Development Fund is available statewide to both nonprofit and for-profit developers for low- and moderate-income housing in Delaware.

Related:
Where can I find cost certification guidelines?

HOME Investment Partnerships (HOME)

This federal program is offered statewide by DSHA and provides financial assistance to affordable housing providers, often in conjunction with Housing Development Fund financing. Nonprofit and for-profit developers and other housing agencies may apply for HOME financial assistance for acquisition, demolition, new construction, reconstruction, conversion or rehabilitation of single- or multi-family housing and transitional/group housing.



I am interested in MITAS/Property Management Training

Internet Property Management Training

DSHA along with MITAS are excited to provide you with online training with our new Internet Property Management software. These training videos contain instructions to familiarize you with the fundamental skills needed to use the MITAS Internet Property Management software.