Development Charges Grant Program

Development Charges Grant Program

Purpose

Intended to provide financial incentive to stimulate investment in targeted economic sectors for the purposes of expanding and diversifying the local economy. The program is aimed at attracting new businesses to the city and the expansion of existing businesses through the development, redevelopment, rehabilitation or adaptive reuse of buildings and properties in the Community Improvement Project Area.

Description

Consists of a grant program, whereby businesses will be eligible to receive a grant for a percentage of the development charges owing from the development or redevelopment of a building(s) or property in conformity with this Community Improvement Plan (CIP).

Financial Details

Applicants successful in obtaining one of the above mentioned grants may be eligible to receive a grant to offset up to 100 percent of development charges paid for a project.

Requirements

Projects are required to be in compliance with all City by-laws and policies, including zoning and building regulations. Additionally, the subject property shall not be in a position of property tax arrears.

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