No Fixed Amount
Type of Program:
The Community Growth Grant is available for non-residential and mixed-use development projects that significantly increase the value of an existing property.
Comments on Funding:
Funding will take the form of a grant based on the project’s assessed economic value and administered using a declining scale over a period of 5 years for projects valued less than $5,000,000, and 10 years for projects valued more than $5,000,000.
When It Ends:
The applicant must:
complete and submit the prescribed form identified in Schedule “A” to the Town of Riverview prior to the commencement of any works and prior to applying for a building permit;
enter into an Agreement with the Town of Riverview that sets out the conditions of the grant, if successful;
commence the proposed development no later than two (2) years following Town Council’s approval of the grant or the grant will be cancelled.
Applicants must submit:
- 1the application form;
- 2a business plan, if required;
- 3reports, plans, estimates, contracts, and other relevant details as may be required to satisfy the Town with respect to the eligible costs of the project and conformity of the project with the Municipal Development Plan;
- 4an annual update confirming that the terms of the incentive are being met.
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