§ 1813. Special taxes on real property as alternative to ad valorem taxes.
§ 1813. Special taxes on real property as alternative to ad valorem taxes. (a) As an alternative to levying ad valorem taxes under this chapter, the governing body of the municipality may levy special taxes on real property in a special development district to cover the cost of infrastructure improvements. (b) In determining the basis […]
§ 1814. Bonds not to constitute general obligation debt.
§ 1814. Bonds not to constitute general obligation debt. Bonds issued under this chapter are a special obligation of the municipality and may not constitute a general obligation debt of the municipality, or a pledge of the municipality’s full faith and credit or taxing power. 74 Del. Laws, c. 145, § 2;
§ 1815. Special development district consistency with certified comprehensive plan.
§ 1815. Special development district consistency with certified comprehensive plan. The use of lands in a special development district shall be consistent with the comprehensive plan for the area as certified pursuant to § 9103(f) of Title 29. 74 Del. Laws, c. 145, § 2;
§ 1816. Limitation on ad valorem or special taxes within a special development district.
§ 1816. Limitation on ad valorem or special taxes within a special development district. The levy of an ad valorem or special tax pursuant to § 1802(a) or § 1813(a) of this title shall not be applicable to and shall not be imposed on special betterments property as defined in § 8101(e) of Title 9 […]
§ 1817. Special provision applicable to the City of Dover, Delaware.
§ 1817. Special provision applicable to the City of Dover, Delaware. Notwithstanding § 1807(c)(2) of this title, before the City of Dover may establish a special development district under this chapter, all of the owners of real property in the proposed special development district shall request the City of Dover to establish the special development […]
§ 1901. Purpose.
§ 1901. Purpose. Healthy and vibrant downtowns are critical components of Delaware’s economic well-being and quality of life. The purpose of this chapter is to leverage the resources of state government in a limited number of designated areas in Delaware’s cities, towns, and unincorporated areas in a multifaceted effort to: (1) Spur private capital investment […]
§ 1902. Definitions.
§ 1902. Definitions. As used in this chapter: (1) “Committee” means the Cabinet Committee on State Planning Issues established pursuant to § 9101 of Title 29. (2) “District plan” means the strategic plan or other detailed description of the overall strategy for the development of a proposed district submitted by the municipality or unincorporated area […]
§ 1704. Payment of bonds.
§ 1704. Payment of bonds. Bonds shall be payable from the special fund described in § 1706(3)b. of this title, and the governing body of the issuer may also pledge its full faith and credit or establish sinking funds, establish debt service reserve funds or pledge other assets and revenues towards the payments of the […]
§ 1705. Application of bond proceeds.
§ 1705. Application of bond proceeds. All proceeds received from any bonds issued and sold pursuant to this chapter shall be applied solely for: (1) The cost of purchasing, leasing, condemning or otherwise acquiring land or other property, or an interest in them, in the designated TIF District or as necessary for a right-of-way or […]
§ 1706. Conditions precedent to issuance of bonds.
§ 1706. Conditions precedent to issuance of bonds. Before issuing any bonds, the governing body of the issuer shall: (1) Designate by resolution an area within its jurisdiction as a “TIF District”. (2) Receive from the appropriate assessor a certification as to the amount of the original assessed value. (3) Pledge that until the bonds […]