2011 Municipal Study - City of Brantford

Municipal Study 2011Brownfield RedevelopmentTax Increment Equivalent Grant (TIEG): The aim of the program is to utilize, for a specifiedperiod of time, the benefits associated with the assessment and property tax generatedthrough redevelopment initiatives. The grant is equivalent to 70% of the municipal portionof the increase in property tax which is generated through redevelopment, payable for amaximum of ten (10) years, or until the grant equals total eligible costs.BrockvilleBrownfield Financial Tax Incentive program (BFTIP): Brownfields property tax cancellationmay include both the municipal portion of property tax as well as the provincial educationportion of property taxes. The application of this program is limited to cancellation ofthe increase in property tax arising from the remediation and redevelopment of major developmentsites.Environmental Site Assessment (ESA) Grant Program: The aim of the program is toprovide assistance to further specify the extent and nature of environmental contaminationthrough part-funding of Phase II ESA and Phase III ESA (Remedial Action Plan). Reimburseto the owner for costs associated with eligible studies with a maximum individualgrant of $15,000 or 50% of the cost of ESA, whichever is less, and a maximum assistanceper property of 2 studies per property, to a maximum of $25,000 per property.Brownfield Building Permit Fees grant Program: The aim of the program is to provideassistance for redevelopment of brownfield sites by further reducing the cost of developmentrelated to building permit fees. Assistance is in the form of a grant paid against buildingpermit fees payable for each project. The property owner or assignee pays for all buildingpermit costs. These costs, to a maximum of 100%. Are reimbursed to the owner, in theform of a grant based on the completion of the building as determined by the City. Thegrant may be less than 100% and in all cases is limited by the 100% cap or total eligiblecost, whichever is less.CaledonEnvironmental Study Grant Program offers grants to eligible property owners for the completionof Phase II Environmental Site Assessment (ESA), a Phase III ESA, Remedial WorkPlan, and/or Risk Assessment Plan for properties that are within the designated CommunityImprovement Project Area for Bolton.Economic Development Programs382