No Fixed Amount
Type of Program:
The Redevelopment Grant provides a financial incentive to property owners who rehabilitate and develop adaptive re-use plans for properties or buildings that are contaminated, under-utilized or vacant being located outside of the Downtown Community Improvement Plan area but within the designated Business Improvement Area (BIA) and Central Business District Zone (CBD).
Comments on Funding:
The maximum grant payment to be disbursed under the Program each year cannot exceed the annual incremental revenue generated from the applicant’s property in that fiscal year. Payments of the redevelopment Grant for City Changing Projects valued at over $10 million dollars in building permits with the City, should be paid on an annual basis for up to three (3) years.
When It Ends:
The applicant must:
Eligible Projects under the Program must represent one of following types of projects:
Applicants must complete and submit the application form.
Applicants must submit:
- 1reports, plans, estimates, contracts and other details as may be required to satisfy the City with respect to the eligible costs of the project and with respect to conformity of the project with the Program;
- 2a Business Plan, if required.
Other Things to Note:
Revised: March 21, 2022 - Source 1