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