Incentives

To achieve revitalization goals, the DIA provides to developers and those looking to invest Downtown numerous incentives such as the Multi-Family REV Grant, a real estate tax recovery grant. And, in 2020, the DIA launched three new programs: the Downtown Preservation and Revitalization Program (DPRP), the Food and Beverage Retail Enhancement Program (FAB-REP) and the Storefront Façade Grant Program. Incentives include:

• Commercial lease and job creation incentives
• Retail build-out incentives
• Residential Incentives
• Incentives for preservation and revitalization of historic structures
• Storefront facade grants
• Sidewalk café grants

To learn more about the various incentives DIA offers, visit http://dia.coj.net/Incentives.

Some development incentives are available Downtown without regard to job creation or specific property use. The following benefits 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