Economic growth tied to transformation
To attract and nurture the businesses that will result in robust economic development for the town, the Laurel Redevelopment Corporation acknowledges the need to transform Laurel’s business district and adjacent residential neighborhoods.
To that end, the LRC took the lead in a successful application to Delaware’s Strong Neighborhoods Fund. Partnering with the Town of Laurel, Sussex County Habitat for Humanity, Milford Housing Development Corporation and NCALL, the $500,000 grant will result in the purchase-rehabilitation of six homes and the construction of four new homes in Laurel’s Old Town neighborhood.
NCALL is providing a $1 million line of credit to the LRC to help finance the owner-occupied homes. LRC has targeted other properties within the neighborhood for acquisition and cleanup.
The LRC is also a partner with the town in promoting The Ramble waterfront redevelopment efforts and Laurel’s Downtown Development District (see below). The LRC owns much of the land along Broad Creek that is included in both The Ramble plan and the DDD.