2011 Municipal Study - City of Brantford

Municipal Study 2011Downtown/Area Specific ProgramsType ofProgramDowntown/Area Specific ProgramsRichmond HillSarniaInterest FreeLoanGrant/Tax ReliefThe City provides a façade matching interest free program of up to$10,000 for downtown properties.The City provides grants to property owners who undertake renovations/rehabilitation to their properties that result in an increase in theirassessment and a corresponding increase in their taxes. The grant isequal to any increase in taxes paid as a result of the work being done.The grant is available for a period of 10 years for non-heritageproperties. The grant is 100% of actual tax increases as a result ofincreased assessment in years 1-8, decreasing to 75% in year 9 and50% in year 10.Façade LoanLoans are available to a maximum of $20,000 per storefront or the totalcost per storefront of the proposed eligible improvements whichever isthe less, to a maximum of $60,000 per property. Interest will be chargedat one half the prime rate of the City’s banker at the time of theapplication. Term is open not to exceed 10 yearsSault Ste.MarieDC ExemptionNo City Development Charges.Community Improvement Programs (2 CIP initiatives – DowntownDevelopment, Industry Investment). Economic Development Fund($500,000/year) for sector specific industry infrastructure and communityprojects.St. Marys DC Exemptions No development charges for commercial or industrial developmentSt. ThomasThoroldGrantGrantThe City operates a Community Improvement Program wherebygrants, interest-free loans, financial aid for façade and residentialimprovements and the waiving of building permit fees are offered to preapprovedapplicants.Façade Improvement Grant Program – grants will be available for theDowntown Thorold Area equal to 50% of the eligible costs to amaximum of $10,000 per building.Economic Development Programs377