Beginning September 30, 2019, downtown businesses have an opportunity to apply for three grants encompassed under the Downtown Incentives Program: the Urban Residential Development Grant, the Patio Grant, and the Demolition Grant.
The Urban Residential Development Grant is intended to encourage residential and mixed-use development in the downtown. Infill development and redevelopment within the program boundaries 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. Additionally, residential projects may qualify for a three-year tax deferral on the incremental assessed value and a matching grant for half of the cost of upsizing water and wastewater connections to a maximum of $50,000.
The Patio Grant encourages downtown businesses to develop outdoor patio spaces through a matching grant of 50% of the patio’s cost, up to $5,000.
Finally, the Demolition Grant offers a 50% matching grant up to a maximum of $50,000 for the removal of a building within the downtown incentives boundary.
Applications are reviewed on a first-come, first-served basis between September 30 and October 30, 2019.
Applicants are invited to meet with the Program Coordinator to review their application prior to submitting. The Program Coordinator can be reached at firstname.lastname@example.org or 780-513-5240.
To date, the Downtown Incentives Program has awarded $2.5 million to 37 businesses. The Façade Improvement Grant has not been included under the Downtown Incentives Program for 2019.
Additional details are available at cityofgp.com/downtownincentives.