Downtown Core Real Estate Densification: Building Permit Incentive
no fixed amount
Tax Credit
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 offers financial incentives for the occupied floor space (floor space occupied by retail and/or residential housing) of a building. The third type (Part C) is a Financial incentive equivalent to a percentage of building permit fees.
Comments on Funding:
Funding is a financial incentive equivalent to a percentage of the building permit cost. Incentive calculation method: 1. building valued at $4,999,999 or less; no incentive;
2. building valued between $ 5M and 9,999,999; incentive worth 30% of the building permit cost;
3. building valued between $ 10M and 14,999,999; incentive worth 40% of the building permit cost;
4. building valued at $ 15M or more; incentive worth 50% of the building permit cost.
The incentive equivalent to a percentage of the building permit fees will be paid within two months of the developer having paid the building permit to the City.
Rolling deadline
Eligibility:
The applicant must own new buildings in Zones A, B and C (check the map in Appendix A on the website) valued at $5 million and over.
Application Steps:
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. reports;
2. plans; 3. estimates;
4. other detailed supporting documents required to satisfy the City that the project complies with the program.
Other Things to Note:
About the author
Maurice
