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Downtown Core Real Estate Densification: Occupied Floor Space of a Building Incentive

by Maurice | February 2, 2023

Amount:

No Fixed Amount

Type of Program:

Grants


Description:

Downtown densification is one of the objectives of the City of Dieppe’ s Strategic Plan. This policy will allow the City to strengthen and increase its tax base in the long term and to use existing services and infrastructure more efficiently. There are three (3) types of possible financial incentives which vary by zones. The first type (Part A) is an incentive which will promote the increase in indoor space used as residential housing and commercial accommodation in buildings of four (4) or more full storeys. 

Comments on Funding:

Funding is a grant calculated according to the following method:  

  1. 1
    Grant of $28.25/ m2 on the occupied floor space of three ( 3) storey buildings;
  2. 2
    Grant of $32.50/ m2 on the occupied flour space of four ( 4) storey buildings;
  3. 3
    Grant of $34.00/ m2 on the occupied floor space of five (5) storey buildings;
  4. 4
    Grant of $35.75/ m2 on the occupied floor space of all buildings over five 5) stories.

Depending of the location of the property, the applicant receives:

  1. 1
    100% of the total calculated amount in the case of new buildings in Zones A and B meeting the requirement that the sides of the building facing public streets are of a commercial nature with a minimum depth of 5 metres;
  2. 2
    50% of the total calculated amount in the case of new buildings in Zone B that only offer residential space and meet the specified requirements;
  3. 3
    25% of the total calculated amount in the case of new buildings in Zone C that meet the specified requirements.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must :

  • own buildings in Zones A, B, C (check the map in Appendix A on the website);
  • increase the indoor space used as residential housing and commercial accommodation in buildings of four (4) or more full storeys.

Application Steps:

1

The applicant must submit the prescribed form (Appendix D) before construction work starts and before applying for a building permit.

Documentation Needed: 

Applicants must submit:

  1. 1
    reports;
  2. 2
    plans;
  3. 3
    estimates;
  4. 4
    other detailed supporting documents required to satisfy the City that the project complies with the program.

Program Contact:

Politique-EXPD-1-(2022).pdf

Related posts:

New Brunswick Small Business: Complete Guide for Entrepreneurs
How to Get a Small Business Loan in New Brunswick: Quick Guide for NB Entrepreneurs
Business License New Brunswick: Step-by-Step Guide, Costs & More
Franchise Opportunities in New Brunswick: How to Find Franchises for Sale + Mistakes to Avoid

About Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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