The Development Incentive Program will open for applications in mid-2019 for the Interior Improvements grant. The web page will be updated when the information on program updates and application intake deadlines becomes available.
The Development Incentive Program encourages property owners in Business Improvement Areas to invest in higher density residential and/or commercial development. The program provides grants to cover a portion of building or renovation costs.
Grants may be provided to property owners who invest in new development, redevelopment, and/or conversion of their properties for mixed-use, multi-unit residential, and/or eligible storefront retail and commercial uses.
Benefits of the program could include tenant and customer attraction, additional rental income, revitalization of main street areas with more places to live and shop, and enhanced property values.