ERASE Redevelopment Grant (ERG) Program
no fixed amount
Grants
Description:
The ERASE Redevelopment Grant (ERG) Program is intended to provide tax increment-based Grants towards costs required to remediate historical environmental contamination on brownfield sites in support of their redevelopment/reuse. By providing Grants to mitigate these financial impediments, the Program enables brownfield sites to be viable candidates for redevelopment relative to non-contaminated sites, supports the intensification/infill of existing vacant and underutilized sites, reduces the need for greenfield lands to accommodate future population and employment growth, and generates new municipal property tax revenue through increased property assessments.
Comments on Funding:
Grants are provided directly from the actual increase in municipal property taxes generated due to a site being remediated and redeveloped. Grants are equal to 80% of the municipal tax uplift and are provided for up to 10 years or until program-eligible remediation costs are recovered, whichever comes first.
Grants for ‘enhanced’ projects (which incorporate specific environmental sustainability measures or include a portion of residential units as affordable) increase from 80 per cent to 100 per cent of the municipal tax uplift annually while the duration of grants increases from 10 to 13 years, or until eligible remediation costs are recovered, whichever comes first.
Continuous Intake
Eligibility:
Applicants must be:
1. the registered owner of the site with grants only payable to the successful Program Applicant and cannot be assigned or directed to any other payee unless otherwise provided for in the Program Administration section herein
2. within the Historically Developed Area as defined through the ERASE CIPA By-law.
Application Steps:
Applicants must:
1. have a pre-application consultation meeting with City
staff in order to determine Program eligibility, proposed scope of work, project timing, etc.
2. submit a complete application to the Economic Development Division prior
to the commencement of eligible works that are the subject of a Program application by email at: johnpaul.loiacono@hamilton.ca
For mailing or in-person delivery of application
fee:
City of Hamilton – Attention: Johnpaul Loiacono
Economic Development Division
Commercial Districts and Small Business Section
71 Main Street West, 7th Floor
Hamilton ON, L8P 4Y5
Documentation Needed:
Applicants must submit:
1. Completed and signed application form
2. A Remedial Action Plan prepared by a Qualified Person
3. A Business Plan for the planned
development
4. Site Plan and architectural drawings for
the planned development
5. Digital copies of all previous
environmental studies for the site
6. An MPAC post-development assessment
estimate for the planned development
Where required – see Section A, 6)
7. Application fee
Other Things to Note:
About the author
Maurice