Atlantic Canada Business Grants

City of Charlottetown

Redevelopment of Existing Commercial Properties for Commercial Purposes

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Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

Under the tax incentive strategy a tax incentive is provided for redevelopment of existing commercial properties for commercial purposes. 

Comments on Funding:

The incentive is based on the increase of the real property tax assessment as a result of the project. The annual incentive is calculated on the increase assessment portion of the municipal component of real property tax subsequent to the project being completed.

The incentive allows for the temporary graduated suspension of only the increase of the municipal portion of the assessed value of properties for a period of five (5) years. Any increase in the property assessment or the tax rate levied by the City of Charlottetown during the term of the program is not covered in the Incentive Program. The incentive is a diminishing incentive over a five-year period as follows:

  1. 1
    90% municipal property tax in Year 1 on the portion of increased assessment;
  2. 2
    75% municipal property tax in Year 2 on the portion of increased assessment;
  3. 3
    60% municipal property tax in Year 3 on the portion of increased assessment;
  4. 4
    45% municipal property tax in Year 4 on the portion of increased assessment;
  5. 5
    30% municipal property tax in Year 5 on the portion of increased assessment;
  6. 6
    0% year 6 and beyond.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

  • be based within the downtown core;
  • redevelop existing commercial properties for commercial purposes;
  • have received approval from Innovation PEI;
  • demonstrate a commitment to environmentally sustainable construction and ongoing operational practices.

Application Steps:

1

make application for the program within one year from the date of issue of the relevant Building Permit otherwise the Program will not apply to that project.

2

enter into an agreement upon completion of the project.

Documentation Needed: 

Applicants must submit:

  1. 1
    proof that property taxes are not in arrears, that the project complies with all City of Charlottetown Bylaws and Zoning and Development requirements, and that the project has received all the approvals, certificates and licenses that may be required, at any time and for any reason, by the City of Charlottetown;
  2. 2
    documentation demonstrating that there has been an increase in the property tax assessment and showing the amount of the increase over the Base Year;
  3. 3
    annually by December 15th information to the satisfaction of the City of Charlottetown demonstrating that the real property taxes for the property have been paid in full.

Program Contact:

Tax Incentive Strategy.pdf

New Construction or Redevelopment for Businesses

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Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

Under the tax incentive strategy, a tax incentive is provided to businesses in the bio-technology, financial services, IT, aerospace and advanced manufacturing sectors for construction or development. 

Comments on Funding:

The incentive is based on the increase of the real property tax assessment as a result of the project. The annual incentive is calculated on the increase assessment portion of the municipal component of real property tax subsequent to the project being completed.

The incentive allows for the temporary graduated suspension of only the increase of the municipal portion of the assessed value of properties for a period of five (5) years. Any increase in the property assessment or the tax rate levied by the City of Charlottetown during the term of the program is not covered in the Incentive Program. The incentive is a diminishing incentive over a five-year period as follows:

  1. 1
    90% municipal property tax in Year 1 on the portion of increased assessment;
  2. 2
    75% municipal property tax in Year 2 on the portion of increased assessment;
  3. 3
    60% municipal property tax in Year 3 on the portion of increased assessment;
  4. 4
    45% municipal property tax in Year 4 on the portion of increased assessment;
  5. 5
    30% municipal property tax in Year 5 on the portion of increased assessment;
  6. 6
    0% year 6 and beyond.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

  • be based within the City of Charlottetown;
  • be businesses in the bio-technology, financial services, IT, aerospace and advanced manufacturing sectors;
  • have received approval from Innovation PEI;
  • demonstrate a commitment to environmentally sustainable construction and ongoing operational practices.

Application Steps:

1

make application for the program within one year from the date of issue of the relevant Building Permit otherwise the Program will not apply to that project.

2

enter into an agreement upon completion of the project.

Documentation Needed: 

Applicants must submit:

  1. 1
    proof that property taxes are not in arrears, that the project complies with all City of Charlottetown Bylaws and Zoning and Development requirements, and that the project has received all the approvals, certificates and licenses that may be required, at any time and for any reason, by the City of Charlottetown;
  2. 2
    documentation demonstrating that there has been an increase in the property tax assessment and showing the amount of the increase over the Base Year;
  3. 3
    annually by December 15th information to the satisfaction of the City of Charlottetown demonstrating that the real property taxes for the property have been paid in full.

Program Contact:

Tax Incentive Strategy.pdf

Heritage Incentive Program

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Amount:

No Fixed Amount

Type of Program:

Grants, Fee Reduction or Exemption

Description:

The Charlottetown Heritage Incentive Program includes both monetary and nonmonetary incentives for development of individually designated properties and/or properties located in the Heritage Preservation Area. The program is designed to provide financial assistance as well as recognition for the appropriate development of heritage resources within the City. 

Comments on Funding:

The Heritage Incentive Program includes the following incentives:

  1. 1
    Grants for exterior alterations are offered at 30% of total eligible costs to a maximum of $5,000 for major renovation projects. General maintenance may be funded to a maximum of $1,000. Grants for signage are offered at 50% of total eligible costs to a maximum of $1,000. Window replacements may be funded at 50% to the $5,000 maximum.
  2. 2
    A graduated tax freeze on the increase in the municipal portion only of the assessed value for a period of five years is offered to heritage resource properties.
  3. 3
    Building permit fees for all heritage applications reviewed by the Heritage Board and approved by City Council are eliminated.
  4. 4
    Heritage Awards presented annually to individuals or groups who have made significant contributions to the heritage of the city. This may have been achieved through building restoration, publications, public spaces or landscapes, or heritage activities.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

  • be property owners whose property is a designated heritage resource and/or a resource located in the Heritage Preservation Area, which is not tax delinquent;
  • be Individuals or groups who have contributed significantly to the heritage of the city are also, if applying for a heritage award.

Application Steps:

1

make an application to the Heritage Office of the City of Charlottetown Planning Department. Applications should be received at least six (6) weeks prior to the anticipated project commencement;

2

sign a development agreement with the City of Charlottetown before work begins, if the application is approved (by signing the Heritage Grant application, the applicant certifies that no work eligible for grant funding has yet taken place).

A Heritage Tax Freeze application must be received by the City of Charlottetown within one year from the date of issue of the relevant building permit to be eligible. In cases where work is ongoing beyond one year from the date of issue of the building permit, written acknowledgement from the City of Charlottetown is required by this date.

Consideration for a Heritage Award is automatic where a heritage resource has made application for alterations, which have been reviewed by the Heritage Board over the previous five-year period. Nominations for properties, which have been significantly well maintained and have not been reviewed by the Heritage Board in the previous five (5) years may be made at the Planning Department.

Documentation Needed: 

Applicants for the Heritage Grants must submit:

  1. 1
    at least two (2) cost estimates;
  2. 2
    the paid bills as proof with a written request for payment of the grant;
  3. 3
    photographs of the completed project;

Applicants for the Heritage Tax Freeze must submit:

  1. 1
    verification that no taxes are owing on the property;
  2. 2
    an approved City of Charlottetown building permit for work completed on the property;
  3. 3
    a statement detailing other sources of funding for the project;
  4. 4
    proof of a change in the tax assessment of the property following work approved under the building permit issued by the City;
  5. 5
    proof of taxes paid with a written request for reimbursement under the Tax Freeze Program.

Program Contact:

Heritage Incentive Program