Laurel’s proposed Downtown Development District
Entrepreneurs, developers and homeowners who wants to reinvest in Laurel’s downtown and Broad Creek waterfront will soon have access to a state pool of more than $8.5 million.
On Tuesday, August 2, the state Cabinet Committee on State Planning Issues recommended Laurel as one of five small towns to receive a Downtown Development District designation. The proposed DDD area includes the Broad Creek waterfront encompassing the proposed Ramble redevelopment, the Market Street Business area and a residential swath that goes south to Sixth Street, west to the railroad tracks and east to Pine Street (see map).
Council President Chris Calio made remarks on behalf of the town at the meeting in Dover.
“As a native of Laurel whose family once owned a successful shoe store in Laurel’s downtown, I understand the stakes are very high today for the future of our town. Laurel has a great deal of hope and promise, but also a great deal of need,” he said.
“We can feel it – we are at a crossroads, and we have a clear vision. We believe a Downtown Development District designation would create momentum for the type of transformational investment that could change Laurel’s destiny and attract residents, jobs and visitors to our town.”
The designation will make an unprecedented array of local and state incentives available to investors in the town. That includes residents or newcomers who want to restore a historic home or convert one into a Bed and Breakfast. Besides a slate of aggressive town incentives, the state will offer grants for qualified real property investments. This sheet explains the grant program and eligible expenses.
The other towns recommended for a Downtown Development District are Harrington, Georgetown, Smyrna and Milford. You can read a lot more about Laurel’s plan on our dedicated page.
After Gov. Markell makes the Cabinet Committee’s recommendation official, investors in Laurel will be able to apply for the state grants. Meanwhile, the town, Laurel Redevelopment Corporation and others who have been working on the district proposal will put together an implementation plan.
