Downtown CIP Area & Designated Heritage Properties Building Permit and Planning Fee Equivalent Grant Program

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Redevelopment Grant Program is intended to provide a financial incentive to property owners who rehabilitate and develop adaptive re-use plans for lands and/or buildings that are contaminated, under-utilized or vacant within the designated Downtown Community Improvement Plan Area. The program will also apply to assisting with adaptive re-use and refurbishment of important heritage properties within the City of Moncton.

Comments on Funding:

Funding will take the form of a grant calculated based on the value of the construction project at time of building permit application and a Downtown Capital Improvement Fund contribution formula and may be paid on annual basis for up to 5 years for building construction projects valued under $10 million dollars and up to 10 years for projects valued over $10 million dollars, commencing once the redevelopment is complete.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

propose a project for an existing property which:

must be located within the designated City of Moncton Downtown Community Improvement Plan Area (see Schedule “C”), and or be designated as a Heritage property under the City of Moncton Heritage Preservation By-law;
is not subject to any outstanding City work orders;
is not in a position of tax arrears or downtown Business (all taxes owing shall be paid prior to the disbursement of any fee related grant);

be registered as a Corporation under the Business Corporation Act;
respect any existing Heritage designation plans for the existing property and adjacent properties;
enter into an Agreement with the City of Moncton that sets out the conditions of the annual grant;
commence the proposed development no longer than 2 years following City Council’s approval of the grant or the grant will be cancelled.

Eligible Financial Incentive Program Grant Projects must represent one of following types of projects:

Infill and redevelopment of large surface parking lots, vacant under-utilized sites, and buildings;
Redevelopment of properties which involves the demolition of commercial, residential or industrial buildings with the exception of designated heritage buildings;
Residential Conversion and Intensification of upper stories (eg., 2nd story and above) of under-utilized Commercial and Office Buildings;
Restoration of older abandoned buildings; and
Downtown parking structure.

Application Steps:

Applicants must complete and submit the application form.

Documentation Needed:

Applicants must submit:

1
reports, 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;
2
a Business Plan, if required.

Other Things to Note:

Revised: March 21, 2022 - Source 1

Program Contact:

CIPA Financial Incentive Program.pdf

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