Medicine Hat – The Downtown Development Incentive Program (DDIP) is set to return for 2017. The Business Support Office will begin taking applications on Monday, March 6 at 9 a.m.
The DDIP continues to offer downtown property owners a series of incentives to assist them to redevelop or initiate new developments in the city centre and includes five options for financial assistance:
- Commercial Development – Access up to $25,000 towards major renovations or new construction of a commercial building.
- Multifamily Development – Access up to $25,000 towards redevelopment or new construction on a multi-family project consisting of 4 or more residential units with units a minimum size of 74 square metres (800 SF).
- Live/Work Residential Development – Access up to $5,000 to develop a residential living space with minimum unit size of 93 square metres (1000 SF) connected to their commercial building.
- Architectural/Visual Enhancements – Access up to $5,000 for facade and exterior building improvements.
- Environmental Site Assessment and Remedial/Risk Management – Access up to $20,000 to assist in the costs of environmental site assessments and completion of a remedial or risk management plan.
These grants are available to qualified properties located in the Downtown Area Redevelopment Plan only (see map). A cap of $50,000 remains as the total for which any one civic address can qualify. The 2017 DDIP offers $284,000 in total funding availability and will be allocated on a first come first serve basis. Grant disbursement will end when the budgeted funds are fully subscribed.
“The Downtown Development Incentive Program is a great way to support our businesses and incentivize development in the downtown,” says Sandra Blyth, Business Support Officer for the City of Medicine Hat. “The 2011-2016 programs were so successful that City Council approved another two years of the DDIP program within the recently approved 2017-2018 Tax Supported Operating Budget.”
To review details and/or download an application form, visit www.medicinehat.ca/DDIP Property owners interested in arranging a time to discuss the programs and how to get started can call the Land and Business Support Office at 403.529.8148 or e-mail firstname.lastname@example.org.
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For further information, please contact:
Business Support Officer, Business Support Office
City of Medicine Hat