Core Areas Financial Incentives: Tax Increase-based Equivalent Grant Program (TIEG)
no fixed amount
Grant
Description:
The Tax Increase-based Equivalent Grant Program offers grants to eligible applicants whose City property tax has increased as a result of the planning or replanning, design or redesign, resubdivision, clearance, development or redevelopment, reconstruction and rehabilitation of a property within one of the designated Community Improvement Project Areas, resulting in the incremental improvement of the built character of these areas.
Comments on Funding:
Annual grants may be equal to 75% of the City’s portion of the property tax increase. Property taxes for the City of Cambridge are calculated by the following ratio:
1. Waterloo Region: 35.60%;
2. School Board: 39.27%;
3. City of Cambridge: 25.13%.
Continuous Intake
Eligibility:
Applicants must be eligible applicants whose City property tax has increased as a result of the planning or replanning, design or redesign, resubdivision, clearance, development or redevelopment, reconstruction and rehabilitation of a property within one of the designated Community Improvement Project Area.
The development must meet and incorporates exemplary design standards and contributes to maintaining the heritage character of the Community Improvement Project Area.
Application Steps:
No specific application steps have been identified.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
