Incentives

To support developers and others looking to invest in Downtown, the DIA provides numerous incentives to encourage such investment. 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, such as:

• Commercial Incentives
• Residential Incentives
• Downtown Preservation and Revitalization Program
• Downtown Historic Preservation and Revitalization Trust Fund
• Stormwater Credits

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