The Business Retention & Expansion Grant is aimed to help industrial and commercial businesses grow and thrive by enhancing their property through addition or significant renovation while stimulating the local economy. It is a four-year annual rebate equal to 100% of the general municipal tax portion of the Incremental Assessed Value of the property in the first year, decreasing by 25% annually for three additional years. 

Fees and Timelines

Applications are open July 28, 2021 and are available until 4:00 PM, December 30, 2025.  Applications are processed on a first-come, first-served basis and will be accepted until funds are fully assigned or the program is closed.   

Application Requirements

  • To be eligible to apply, the project must be an expansion of existing commercial or industrial businesses through addition or renovation with a minimum taxable assessment increase of over $1,000,000 and which increases assessed value by a minimum of 25% or; 
  • Commercial or industrial demolition, infill, or adaptive reuse of vacant or under-utilized land/buildings with a minimum taxable assessment increase of over $1,000,000 and which increases assessed value by a minimum of 25%. 
  • No construction can be performed prior to signing a Reimbursement Agreement with the City. 

Submission Information

  1. Contact the Program Coordinator to discuss your project, assess your eligibility and review the application process. 
  2. Prepare an application ensuring the project will comply with all permit requirements, Provincial Building Codes, applicable statutory plans, City’s Land Use Bylaw C-1260 and all other relevant Bylaws. 
  3. Submit a completed application to the Program Coordinator via email to: businessincentives@cityofgp.com 

Questions

Any questions or inquiries can be made to the Program Coordinator at businessincentives@cityofgp.com or 780-513-5240.