Community Improvement Plans - Financial Incentives

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What is the Project?

An important part of Community Improvement Planning is to measure the success of the program. This project will review how well the Financial Incentives programs are at achieving the goals of community:

  • Re-investment,
  • Rehabilitation, and
  • Beautification.

This work involves creating performance measurements, indicators of success, and targets, and adding them to the Community Improvement Plans. The targets will inform the City whether the Financial Incentive programs need to be changed, including reducing the grant or loan funding, or possibly removing the incentive program.

Earlier this year, the Downtown and Old East Village Area Community Improvement Plans

What is the Project?

An important part of Community Improvement Planning is to measure the success of the program. This project will review how well the Financial Incentives programs are at achieving the goals of community:

  • Re-investment,
  • Rehabilitation, and
  • Beautification.

This work involves creating performance measurements, indicators of success, and targets, and adding them to the Community Improvement Plans. The targets will inform the City whether the Financial Incentive programs need to be changed, including reducing the grant or loan funding, or possibly removing the incentive program.

Earlier this year, the Downtown and Old East Village Area Community Improvement Plans were changed to include the measures, indicators of success, and targets as an appendix. This project is a continuation of the previous work for the Hamilton Road, Lambeth, and SoHo Area Community Improvement Plans.

The draft measures, indicators of success, and targets can be found in the June 21st, 2021 Information Report to the Planning and Environment Committee.


What is a Community Improvement Plan?

A Community Improvement Plan (CIP) is a tool prescribed by Section 28 of the Planning Act that allows Municipalities to direct funds and implement policy initiatives to a specific area. The Financial Incentives programs are a part of the CIPs to encourage rehabilitation and re-investment into the community. More information on CIPs can be found in the Ontario Ministry of Municipal Affairs and Housing Community Improvement Planning Handbook.


What Financial Incentives are available in the Lambeth, SoHo, and Hamilton Road Area CIPs?

Rehabilitation & Redevelopment Tax Grant: this program rebates a portion of the municipal tax increase that results from the rehabilitation of an existing building or construction of a new building. A percentage of this tax increment is rebated back to the property owner each year, for ten years. The grant is available in the SoHo incentive area, refer to the Map on the Notice of Application.

Façade Improvement Loan: this program provides a loan for building façade improvements. The loan can be up to a maximum of $50,000 or half the value of work, whichever is less. Loans are paid back at 0% interest over a 10 year period. In certain areas of Hamilton Road, a portion of the loan may be forgivable. The loan program is available in Lambeth, SoHo, and Hamilton Road incentive areas, refer to the Maps in the Notice of Applications.

Upgrade to Building Code Loan: this program provides loans to property owners who improve their buildings for items that relate to Ontario Building Code requirements. Loans are up to $200,000 or half the value of work, whichever is less. Loans are paid back at 0% interest over a 10 year period. In certain areas of Hamilton Road Area a portion of the loan may be forgivable. The loan program is available in the SoHo and Hamilton Road incentive areas, refer to the Map of the Notice of Applications.

Wharncliffe Corridor Sign Loan: this program provides loans for business owners to improve their signage and bring their properties into conformity with the Property Standards By-law, Sign By-law, and applicable City Design Guidelines. The City may provide no-interest loans that are paid back to the City over a 10-year period. A maximum of $5,000 per eligible property for up to 50% of eligible works can be provided. The loan program is available in the Wharncliffe corridor of Lambeth.

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