Intensification Incentive Program
$50,000.00
Grant, Tax Credit
Description:
The City provides financial incentives to assist developers with financing Intensification projects, encouraging residential, commercial and mixed-use intensification in established areas of the city.
Comments on Funding:
Eligible projects may receive a one-time lump sum grant equivalent to the lesser of $50,000, the estimated eligible cost or the actual eligible costs.
Continuous Intake
Eligibility:
Eligibility Criteria:
1. Intensified Developments may be residential, commercial or mixed-use
2. The Intensified Development must be located within the boundaries of the Incentive Target Area (view the interactive map below).
3. The Intensified Development must incur a minimum of $5,000 in total eligible project costs
4. The portion of the property undergoing Intensified Development must not have received an Intensification Grant or Intensification Tax Incentive within the preceding 10 years.
Application Steps:
The City will encourage applicants to participate in a pre-application meeting to clarify requirements before applying.
Documentation Needed:
“site plans including lot shape and size with setbacks of existing and proposed building to the side, rear and front property lines, easements, right-of-ways, decks, projections, cantilevers, driveway location, parking stall dimensions and grade elevations,
(b) professionally prepared building plans that show the existing and proposed uses, existing and proposed elevations, layouts, dimensions, rooms, entrances and upgrades to building systems,
(c) digital images which provide an overall view of the exterior of the property and interior spaces where work is to be performed,
(d) for each eligible project cost:
(e) for each entity providing an estimate under subsection (d), one of the following licensing information will be required:
(f) a development permit, building permit or confirmation of zoning compliance from the City of Regina Planning & Development Services department, if applicable,
(g) Province of Saskatchewan Land Titles Registry Title or other proof of ownership, and
(h) the applicant’s Information Services Corporation incorporation information if the applicant is a corporation.”
Other Things to Note:
Eligible projects may apply for one of the following intensification incentives:
(a) intensification tax exemption, or
(b) intensification grant.
The City shall only accept complete intensification incentive applications, which are processed on a first come, first served basis.
About the author
Maurice
