DE SB127

Establishes the Site Readiness Fund to provide grants, loans, or other economic assistance for renovation, construction, or infrastructure improvements to attract new businesses or expand existing businesses that create significant direct, quality, full-time jobs.

Requires applicants to be sponsored by at least one public entity (county or municipality), establish job creation potential, demonstrate financial stability, and serve a public purpose.

Mandates applicants be validly organized entities in good standing under Delaware law and possess required business and professional licenses.

Directs the Division of Small Business to administer applications using the same procedures as the Delaware Strategic Fund, with the Council on Development Finance reviewing projects and making recommendations to the Director.

Authorizes the Director to approve projects, award funding, and require recapture provisions in contracts to recover funds if applicants cease operations or fail to meet employment and project benchmarks.