Business Improvement Program (BIP)
$10,000.00
Tax Credit
Description:
The Business Improvement Program (BIP) encourages businesses to invest in storefront improvements and landscaping enhancements. The program provides credit to both property and business taxes, as applicable.
Comments on Funding:
Funding is a tax credit which covers 50% of approved expenses on improvements (net of HST) up to a limit of $10,000.
Continuous Intake
Eligibility:
Applicants must be businesses that improve the exterior appearances and/or landscaping of their properties. Eligible properties must have a commercial use at street level in front of the building.
Application Steps:
Applicants must submit the application form to Business Division, City of Corner Brook 5 Park Street, PO Box: 1080, Corner Brook, NL A2H 6E1, Tel. 709-637-1551 Fax. 709-637-1627
Documentation Needed:
Applicants must submit: 1. 2 contractor estimates for each improvement;
2. photograph of the current façade and/or landscape;
3. sketch and/or architectural drawing of the proposed façade and/or landscaping.
Other Things to Note:
Application will be considered and approved on an ongoing basis, until the entire $50,000 tax credit has been committed.
About the author
Maurice
