Small Business Investment Grant Program
no fixed amount
Grant
Description:
The Small Business Investment Grant Program provides new or existing businesses that are expanding funding for a percentage of the tax increment generated from the investments made in the development or redevelopment of the building or property in conformity with this Community Improvement Plan (CIP).
Comments on Funding:
Funding is a grant equivalent up to 100% of the municipal property tax increase created by the project for up to 10 years after project completion.
Eligibility:
Applicants must:
1. be registered owners and assessed owners or tenants of lands and buildings within the City of Windsor or projects that fall within the following sectors: a) professional services;
b) renewable and alternative energy;
c) creative industries;
d) health & life sciences;
e) management of companies and enterprises;
f) manufacturing;
g) tourism;
h) warehousing/logistics.
2. be new or existing small businesses (less than 50 employees, if in the manufacturing sector, or less than 20 in any other targeted sector(s));
3. invest in the development or redevelopment of the building or property in conformity with this Community Improvement Plan (CIP);
4. make an investment that results in a minimum increase of $25,000 in assessed property value.
Applicants must check Appendix A for descriptions of eligible uses.
Application Steps:
Applicants must:
1. arrange a pre-application meeting with City staff in order to determine program eligibility, required application information and material, and timelines for Council approval.
2. complete and submit an application form. Ensure that all required signatures have been provided and that the application is accompanied by all required documentation.
Applications must be approved by City Council prior to commencement of any eligible works being undertaken (i.e. costs incurred prior to Council’s approval may not be eligible for inclusion in the grant program).
All property owners participating in this program will be required to enter into a written agreement with the City, which will specify the terms and conditions of the grant.
Documentation Needed:
Applicants are required to submit a complete application to the City describing (in detail) the development, redevelopment or adaptive reuse that is planned. This may include reports, conceptual site plans, business plans, estimates, contracts and other details as may be required to satisfy the City with respect to conformity of the project with the CIP. Application requirements will be clearly articulated at or following a pre-consultation meeting with City staff.
Other Things to Note:
No deadlines found. For further details contact the City of Windsor by mail at ecdev@citywindsor.ca or by phone at (519) 255-6100 ext. 6608.
About the author
Maurice
