The Urban Residential Development Grant is intended to encourage residential and Mixed-Use development in the Downtown. Infill development and redevelopment within the program area is eligible for incentive grants of $10,000 per Dwelling Unit for apartment buildings and $15,000 per Dwelling Unit for Mixed-Use Apartment Buildings located within the Downtown Incentives Program Boundary. Minimum Dwelling units are required as per Land Use Bylaw C-1260.
In addition to the per unit grant, residential projects are eligible for two other funding opportunities. Applicable projects may qualify for a three year tax deferral. The tax deferral applies to the municipal portion of the Incremental Assessment Value and needs to be approved each year by Council. Projects may also receive a grant to cover half of the cost of upsizing water and wastewater connections to a maximum of $50,000
Fees and Timelines
Applications are open until the end of the year or until funding runs out.
Projects are required to meet all legal requirements including those in the Land Use Bylaw, the Downtown Enhancement Plan, Building Codes and any other applicable regulations. Applicants are encouraged to meet with Inspection Services and Development Permitting to determine any permitting requirements.
The Urban Residential Development Grant does not have additional requirements, but applicants are encouraged to consider the Design Goals in their design.
What to submit?
- Completed Application Form
- Preconstruction Photos – Photos shall show the current site and its context including adjacent structures, roadways, sidewalks, and landscaping
- Site Plan – The plan should indicate all structures and their context including adjacent structures, roadways, sidewalks, and landscaping. A site plan is not required for the Façade Improvement Grant.
- Project Description – A complete description of the project.
For the Urban Residential Development Grant, this must include the proposed uses and number of residential units.
- Project Drawings – Drawings should show the proposed design. Construction drawings are acceptable.
- Proof of Means - Confirmation of project funding. May include a grant confirmation, bank statement or letter from a lender or other funding source. Proof of means is only required for the Urban Residential Development Grant.
The Program Coordinator will bring completed applications to the Downtown Incentives Program Review Committee for review. The Committee will review each application and vote to approve, approve with conditions or deny the application. Approval with conditions will be given in cases where the proposed project only requires minor changes to meet the program requirements. The Program Coordinator will notify applicants of the Committee’s decision.
All decisions of the committee will be made according to Procedure 316.
Applicants are encouraged to meet with the Program Coordinator prior to submitting their application. The Program Coordinator can be reached at firstname.lastname@example.org or 780-513-5240