Office of Economic and Community Development

1 Elizabeth Street
Derby, CT 06418
203.736.1478 		Sheila O'Malley
Director
somalley@derbyct.gov
Patty Finn
Program Specialist
pfinn@derbyct.gov

 

IN DERBY SMALL BUSINESS IS OUR ECONOMY
WHEN YOU GROW, PROSPER AND SUCCEED – WE ALL WIN!

Going Up in Derby!

Starbucks Opens New Derby Location

City Issues RFQ for Downtown Development

Garrett Sheehan of United Illuminating. Ec. Dev. Director Sheila O'Malley and Mayor Staffieri looking for opportunities on Main Street

 

Housing Authority Designated as a High Performer

Latest Community Updates

State Programs that benefit homeowners

1) Furnace Rebate Conservation Loan Program –

a rebate program that applies to homes and apartment buildings with four units or less. $500 for homeowners who replace their furnaces with more efficient models (The amount of the rebates varies depending on the income of the homeowner.) 

http://www.ct.gov/opm/cwp/view.asp?a=2994&q=420476&opmNav_GID=1808

2) Energy Conservation Loan Fund

The Energy Conservation Loan Program (ECL) and the Multifamily Energy Conservation Loan Program (MEL) provide financing at below market rates to single family and multi-family residential property owners for the purchase and installation of cost-saving energy conservation improvements. The program is administered by the Connecticut Housing Investment Fund, Inc. (CHIF) with funding from the Connecticut Department of Economic and Community Development (DECD). helps single family homeowners borrow up to $25,000 while owners of multi-family dwellings may borrow up to $2,000 per unit to a maximum of $60,000 per building. The length of the loan is 10 years.  

http://www.chif.org/owner_borrowers/index.shtml#energy

3) Connecticut Solar Lease Program

This is a program designed to make solar energy systems available to moderate income Connecticut homeowners.

http://ctsolarlease.com/info/ctsolar.php

Here’s how we can help you:

Derby is an Enterprise Corridor Zone. This means you may be eligible for:

a) 5 year 80% abatement of local property taxes on all real and personal property taxes that is new to the grand list as a result of business expansion or renovation.
b) Ten year 25% or 50% credit on your CT Corporate Business Tax that is directly related to business relocation, expansion or renovation project.

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Revolving Loan Fund:
All new business expenses – 3% for ten years and interest only the first year. There is a waiting list for this program, and it is on a first come first serve basis.
Please call Patty Finn at 203-736-1478 for further information?
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Economic Tax Incentives including:

a) Urban and Industrial Tax Credit Program
b) Corporate Sales Tax Exemptions
c) Corporate Business Tax Exemptions
d) Real and Personal Property Tax Exemptions

Watch for information on the following:

a) Small business loans
b) All available lease and or purchase/sale properties in the City of Derby
c) Economic and Community Development Grant Opportunities
d) Multiple links to our economic and community development partners/agencies and non-profits

(***All programs are subject to specific eligibility requirements)

Please call the Office of Economic and Community Development at anytime for assistance and or questions 203.736.1478 and 203.736.1496.

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