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Policy: Business Incentive Program
Section: Community Development
Policy #2020-04
Resolution #173-20
Effective Date: June 9, 2020
BACKGROUND
The Business Incentive Program provides grant incentives to enhance economic development
by encouraging private sector investment in new business construction, expansion, and
improvements within the Gilbert Plains Municipality.
Eligible Improvements
1) New Business Construction
The Municipality will provide a three year incentive for new business construction as
follows:
First Year: A grant in the amount equivalent to 100% of land and building taxes.
Second Year: A grant in the amount equivalent to 50% land and building taxes.
Third Year: A grant in the amount equivalent to 25% land and building taxes.
The first year is the year in which the business has been issued an Occupancy Permit.
The business owner must own the land being developed.
The grant will be calculated based on municipal taxes.
2) New Business Established in an Existing Building
The Municipality will provide a three year tax incentive for new business owners. The
incentive offered is as follows:
First Year: A grant in the amount equivalent to 50% land and building taxes.
Second and Third Year: A grant in the amount equivalent to 25% land and building taxes
The new business owner must own the land and building.
The grant will be calculated based on municipal taxes.
3) Business Renovation Incentive
Any owner of commercial property may apply for a business renovation incentive.
The Municipality will provide a rebate to a business completing renovations or
expansions of their commercial improvements. The rebate will be based on the
increased assessment value resulting from expansion/renovation. The incentive offered
is as follows:
First Year: Grant equivalent to 100% of the incremental increase in taxation resulting
from renovation or expansion.
Second Year: Grant equivalent to 50% of the incremental increase in taxation resulting
from renovation or expansion.
Third Year: Grant equivalent to 25% of the incremental increase in taxation resulting
from renovation or expansion.
A written explanation and pictures of the renovations or expansions must be submitted
with copies of paid invoices alongside application for the rebate. The rebate will be
applied against the municipal tax levy in the year following the completion of the
renovations. If the application of the rebate results in a credit on the property tax
account, the credit will remain on the tax account of the property and is non-
refundable.
A business may apply for a business renovation incentive once every three years.
4) Storefront Improvement Incentive
Any owner of commercial property located on Main Street may apply for a storefront
improvement incentive.
The Municipality will provide a rebate to a business completing improvements to the
exterior of their commercial improvements. The incentive is a reimbursement program
and will provide funding for 50% of costs to maximum of a $3,500.00 payout.
A written explanation and pictures of the renovations or expansions must be submitted
with copies of paid invoices alongside application for the rebate.
Conditions of Business Incentive Program
1. In order to be eligible for the grant, the titleholder must generate a higher business assessment.
2. Commercial incentives granted shall be conditional to that business being in active operation. If
at any time the taxes are in arrears on the affected property, all incentives will be withdrawn
and full taxes become payable for the project.
3. Council reserves the right to approve each incentive package individually and customize
incentives to any specific project when investment dollars of the commercial improvements
exceed $400,000.00.
4. Businesses must be subject to commercial taxation.
5. Each commercial property receiving an incentive is required to submit an annual report to
Council confirming that the terms of the incentive are being met.
6. Council, by means of a resolution passed during a regular Council meeting, reserves the right to
suspend the program at any time.
7. In each applicable year the full amount of annual taxes payable and water and sewer accounts
must be paid prior to grant approval. Any overdue accounts with the Municipality during the
period eligible for the grant will result in immediate loss of eligibility to continue with the
program.
8. To qualify for the grant program all applicants must have obtained a Building Permit with the
Municipality prior to construction commencing and have been issued an Occupancy Permit. The
Occupancy Permit date will be considered in the application process.
9. It is the sole responsibility of the titleholder to request the grant in writing from the
Municipality. If a request is not received within the application period, the Municipality is under
no obligation to consider eligibility for the grant program. For sake of clarity, the Municipality
will not consider grant eligibility retroactively.
10. Grant application approval will occur after the titleholder's application has been approved by
resolution of the Municipality Council. A Letter of Agreement signed by the titleholder and the
signing officers of the Municipality shall complete the application process.
11. Council will only consider one incentive per applicant at a time.
Exclusions from the Business Incentive Program
Council will not normally consider providing an economic development grant to the following
situations:
1. Applications for grants will not be approved on a retroactive basis after the applicant has paid
for and received their building permits for the new commercial development.
2. Grants will not normally be provided to new businesses that are renting or leasing commercial
space from a landlord
3. Home-based businesses will not be considered for inclusion under the bylaw
4. Council may notwithstanding, provide such grants where it believes it is in the public interest
and enhances the economic progress of the community. Council reserves the right to approve
each grant individually and to customize to any specific project.
Business Incentive Program Application
APPLICANT INFORMATION
Incentive Applied For : ____________________
Date: ______________________________________
Applicant Name: ________________________________________
Contact Person: ________________________________________
Street Address: ________________________________________
Mailing Address: ________________________________________
Telephone Number: ________________________________________
Email Address: ________________________________________
PROJECT DESCRIPTION
Description of Proposed Improvements:
(Provide further information in an attached document if required)
Attached please include:
-
Required documentation (occupancy permit, building permit, copies of paid invoices)
-
Drawings/plans for proposed improvements
FUNDING REQUESTED
Total Estimated Cost of Improvements: __________________
Please attach a detailed cost breakdown.
Amount of Funding Requested: _____________________
50% of construction costs up to a maximum grant of $3,500