Estimated reading time: 7 minutes
Key Takeaways
- Vibrant Community Development: The 2020 Community Improvement Plan supports sustainable, attractive urban development.
- Financial Incentives: Diverse programs like TIF, BTIF, BTA, FIP, and ADU offer tailored support for redevelopment and remediation projects.
- Innovative Amendments: Upcoming changes may include retroactive eligibility and a Downtown Forgivable Loan Program to boost residential units.
- Focus on Accountability: Funding is released upon project completion to ensure clear results and community impact.
- Community Engagement: Encourages property owners and developers to invest in shaping inclusive and dynamic neighbourhoods.
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Exciting Opportunities for Property Owners and Developers
The City of St. Catharines is driving positive change through its comprehensive 2020 Community Improvement Plan. Designed to transform the urban landscape, this initiative provides financial support to property owners and developers, reinforcing the city’s commitment to a vibrant and sustainable future. As council looks forward to potential amendments, the focus remains on turning visionary ideas into tangible improvements.
Five Tailored Incentive Programs
These incentives are designed to meet a range of redevelopment goals:
- Tax Increment Finance Program (TIF): Offers a 10-year annual property tax rebate covering 45% of the tax increase from improvements.
- Brownfield Tax Increment Finance Program (BTIF): Supports revitalisation projects with rebates up to 80% of the increase in City taxes.
- Brownfield Tax Assistance Program (BTA): Provides up to a 100% tax rebate for three years to help offset environmental remediation costs.
- Façade Improvement Program (FIP): Allocates grants of up to 50% of project costs (capped at $10,000 per building) to restore and beautify building exteriors.
- Accessory Dwelling Unit Program (ADU): Encourages additional housing with grants covering up to 70% of project costs; note that funding for 2025 has been fully allocated.
Recent Updates for a Stronger Community
- 2024: Flexibility in project completion and increased grant values for accessory dwelling units.
- 2024: Revised eligibility criteria ensure funding aligns more closely with real costs.
- 2025: Amendments now allow certain retroactive expenses, supporting early investments by property owners.
Contact and Support
The City of St. Catharines is dedicated to working closely with its community. Property owners and developers are encouraged to speak with City staff for personalised guidance. As quoted by a city representative, our community improvement efforts are a collaborative journey toward a brighter future
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Stay tuned for further updates, including reopening of programs and the introduction of new funding opportunities aimed at enhancing urban living.
Frequently Asked Questions
- What is the 2020 Community Improvement Plan?
It is an initiative established by the City of St. Catharines to financially support redevelopment projects and sustainable urban growth.
- Who can apply for these incentive programs?
Property owners and developers involved in redevelopment, brownfield remediation, façade upgrades, or accessory dwelling unit projects are eligible.
- How is funding awarded?
Funding is granted after project completion to ensure accountability and measurable success.
- Are there any new amendments planned?
Yes, upcoming amendments may introduce retroactive eligibility and the Downtown Forgivable Loan Program (DFLP) to further support community needs.
- How can I get more information or assistance?
Interested parties are encouraged to contact City staff for guidance and further details on program criteria and application procedures.
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