The Property Acquisition Pilot Program
The application period for Phase I of the Property Acquisition Pilot Program has ended. Stay tuned for an announcement on Phase 2.
The purpose of Jumpstart Wilmington is to promote the growth of local developer capacity through training and development to support neighborhood revitalization and community development solutions.
The Property Acquisition Pilot Program was created to address barriers graduates may experience moving projects forward – accessing property to acquire and develop.
Cinnaire/Jumpstart Wilmington is partnering with City of Wilmington's Department of Real Estate and Housing, Wilmington Neighborhood Conservancy Land Bank (WNCLB), and the Delaware Affordable Housing Group (DAHG) to address this property sourcing challenge to develop a pipeline of properties that will be exclusively available for Jumpstart Wilmington graduates to acquire.
In addition, developers in need of financial assistance for acquisition, construction, predevelopment costs, renovation of single-family homes, multi-family or mixed-use properties located in Wilmington are invited to apply to Jumpstart Wilmington's Loan Program.
HOW TO APPLY
This program is only available to developers who have successfully completed the Jumpstart Wilmington training program. This means that you have attended all training sessions, including the orientation session.
Eligibility Screening:
- Download and complete the Letter of Eligibility from the Property Acquisition Pilot Program webpage.
- Submit the completed Letter of Eligibility to jumpstartwilmington@cinnaire.com and a Jumpstart Wilmington team member will review your submission and certify your eligibility to apply.
- If eligible, you will receive a certified Letter of Eligibility (with signature from a Jumpstart Wilmington team member) and a link to the application webpage which will enable you to move forward with the application process. Please retain the certified Letter of Eligibility because you will need to submit a copy with your application(s).
- The application webpage link should not be shared.
Open House:
- The application webpage will contain the Open House Schedule, with available dates to visit the 7 homes between August 18th and September 16th. (Note: The open house schedule has been extended through Sept. 16). You must attend at least one open house prior to submitting your application. Verification that you have visited an open house for the property you are bidding on will need to be submitted with your application. Please note: A Disclosure and Release Liability Waiver will need to be submitted before visiting any of the units. The waiver will be available on the application webpage.
- If you are visiting multiple properties, you will need to list each property address on your Disclosure and Release Liability Waiver.
Information Session:
- You will need to have attended a Jumpstart Wilmington Property Acquisition Pilot Program Information Session held on March 16, 2022, July 12, 2022, or August 9, 2022 or listen to the August 9 Information Session HERE.
- Listen to the September 9 Q&A Session HERE.
Application Process:
The application process will be streamlined to provide consistency for applicants interested in acquiring properties from these entities. The following process will be followed for REH and DAHG properties.
- Jumpstart Wilmington developer will complete a WNCLB application.
- Applications will be scored using WNCLB review and scoring criteria.
- The WNCLB’s disposition committee and board will make a recommendation for each of the applications received.
The WNCLB application will be used to consider acquisition requests for all 12 properties under this program. Applicants will be asked to provide detailed information regarding the proposed project, including but not limited to:
- Comprehensive scope of work
- Proforma
- Construction budget
- Proof of funding
The completed application will be submitted to: Natalie DiCostanza at ndicostanza@wilmingtonlandbank.org with a copy to jumpstartwilminton@cinnaire.com.
A maximum of one property will be awarded per Jumpstart Wilmington developer. You may submit applications for multiple properties. If submitting applications for multiple properties, please rank the preference of each property on the application.
Application Deadline: Applications will be due by Friday, October 7, 2022, 5pm EDT and should be submitted to Natalie DiCostanza at ndicostanza@wilmingtonlandbank.org with copy to jumpstartwilmington@cinnaire.com. Applicants will be notified on their award by November 2022.
Jumpstart Wilmington developers will be able to apply to the Property Acquisition Pilot Program starting August 16, 2022.
Application Package:
Your application package should contain:
- A completed application cover page certifying that you have included the following things:
-
- Letter of Eligibility Form
- WNCLB Disclosure and Release Liability Waiver
- Confirmation you have attended at least one (1) open house.
- Confirmation you have attended the Jumpstart Wilmington Information Session or watched the recording.
- WNCLB Application
- WNCLB Disclosure and Release Liability Waiver
- Jumpstart Wilmington Letter of Eligibility Certification Form (signed by a Jumpstart Wilmington Team Member)
If you have any questions, please email jumpstartwilmington@cinnaire.com.
Available Properties
The Property Acquisition Pilot Program will consist of a total of 12 properties that will be made available for our Jumpstart Wilmington graduates to acquire and develop. Seven (7) of which will be provided by the City of Wilmington’s Department of Real Estate and Housing. The remaining five (5) will be provided by the Wilmington Housing Authority’s Delaware Affordable Housing Group.
The properties will be available in two phases:
Phase
Phase 1
Phase 2
Partner Entity
Seven City-owned properties
Five Delaware Affordable Housing Group properties
Date Available
August 16, 2022
To be announced once properties are available for acquisition.
The application webpage will contain the property list. You will be granted access to the application webpage once you are confirmed as eligible to apply.
The right is reserved to reject any and/or all proposals, to waive technicalities, to advertise for new proposals, or to proceed to do the work otherwise, if in the judgement of the City of Wilmington or Delaware Affordable Housing Group. The best interest of the stakeholder will be promoted thereby.
Open House Schedule
The application webpage will contain the Open House Schedule, with available dates to visit the 7 homes between August 18th and September 16th (Note: the open house schedule has been extended through Sept. 16). You will be granted access to the application webpage once you are confirmed as eligible to apply.
You must attend at least one open house prior to submitting your application. Verification that you have visited an open house for the property you are bidding on will need to be submitted with your application. Please note: A Disclosure and Release Liability Waiver will need to be submitted before visiting any of the units. If you are visiting multiple properties, you will need to list each property on your Disclosure and Release Liability Waiver.
The waiver will be available on the application webpage.
