Brownfield Program: Rehabilitation Tax Increment Grant
no fixed amount
Rebate
Description:
The Rehabilitation Tax Increment grant reimburses (or rebates) the developer an annual grant equivalent to all or part of the municipal portion of the tax increase, to recover the cost of remediation. The developer pays the full cost of redevelopment as well as the annual increase in property tax.
Comments on Funding:
Funding is a grant equivalent to all or part of the municipal portion of tax increase.
Continuous Intake
Eligibility:
Applicants must be developers that redevelop brownfield sites.
Application Steps:
Application steps:
1. Consultation Meeting
a) Call or email to set up an initial meeting with Dana McLean, development Coordinator to discuss applicant’s property and building renovations, the application process, timelines and identify any additional requirements, such as building permits.
b) If applicant’s plans for renovation require architectural plans for a building permit, he can submit a request for funding for the design fees.
c) A list of qualified professionals will be provided to help applicants choose a designer/architect/ engineer depending on their needs.
2. Concept Plans and estimates
a) Once applicants have their concept design plans, they can contact contractors to ask them to provide estimates for each of the areas of work based on the finalized plans, such as windows, store front and interior renovations which may include electrical and plumbing.
b) Staff will help applicants meet with other city departments for any additional requirements, such as permits.
c) Once you have the estimates you may apply for funding for the renovation work.
3. Submit application
a)The application is reviewed by the Cornwall Planning Programs evaluation group (CPPEG), at the beginning of the month.
b) CPPEG then makes a recommendation for your application and it is presented to the Planning Advisory Committee (PAC) mid-month for approval.
c) The recommended approval then proceeds to City Council for final approval for the funding request.
4. Funding approval
a) Any work started prior to the final approval by City Council is not eligible for funding.
b) Grant funding may be dispersed through a request for progress payments or when work is completed and a final inspection has been received.
Documentation Needed:
Applicants must submit with their application:
1. rehabilitation plan/budget and work plan;
2. Site Plan and or floor plans for renovation/rehabilitation;
3. estimate of site conditions and costs of remediation (from a qualified environmental consultant);
4. evidence of suspected/potential site impairment or actual (evidenced) environmental contamination, as evidenced by existing ESA’s, on the property (please attach available reports/documentation – e.g. Phase I ESA and greater, if available;
5. a Letter of Authorization from the registered owners indicating support for the subject Applicant(s) to proceed accordingly, if the Applicant(s) are not the registered owners of the property subject to this Brownfields Program Application.
Other Things to Note:
About the author
Maurice
