Amount:

No Fixed Amount

Type of Program:

Grant


Description:

The Port Tax Increment-Based Grant Program allows the City to grant back any increases in tax revenues that result from new development on the Port lands.

Comments on Funding:

Funding is a grant equal to 100% of the increase in municipal taxes that result from reassessment of improved properties.
The total amount of the grant will be limited to the amount that the taxes go up.
Municipal taxes may be granted back to owners and tenants for a period of ten years following reassessment.


When It Ends:

Ongoing

Deadline:

December 31, 2021

Eligibility:

Applicants must:

  • be businesses (owners and tenants);
  • undertake the development or rehabilitation of their properties on the Port lands.
  • The property must be located within the boundaries of the Port Community Improvement Plan project area.
  • The subject property shall not be in a position of property tax arrears: 
  • at the application process; and,
  • for the duration of the entire programme.

Applications Steps:

1

Any property owner desiring to be considered for a grant under this program shall make an application in writing to the City’s Planning Division, at the time of making an application for a building permit or prior to commencement of site work.

Documentation Needed:

Proof of actual costs associated with the development or rehabilitation of lands and buildings must be submitted to the Planning Division.

Other Things to Note:

This program is part of the Port Authority Community Improvement Plan that will be in effect until December 31, 2021.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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