CIP Program Supports Downtown Property Improvements

Posted on Wednesday May 16, 2018

NEWS RELEASE

May 16, 2018

 

CIP Program Supports Downtown Property Improvements

Continued Investment Making a Big Impact on Downtown Revitalization

 

Gravenhurst, ON - Yesterday, Town Council approved $78,493 in Community Improvement Plan (CIP) grants for downtown property improvements. This year the CIP Review Committee received 22 applications for projects that were eligible for grants in excess of $156,000. The Review Committee recommended funding allocations to 16 property improvement projects that have an estimated value of over $798,316.00. The grants range from $107 to $11,000. (See attached chart)

“The CIP program has continued to be a way for our Council to invest in downtown revitalization.  It is easy to see the difference in the downtown each year as a result of the funds set aside.  Not only does this program help create a consistent look that we are striving towards, it allows us to build important relationships with both our property and business owners.  Council is proud of the commitment to provide direct financial support to those looking to improve their buildings,” said Mayor Paisley Donaldson.

 

“This year’s intake could easily be described as the programs most successful year,” explained Jeff Loney, manager of economic development. “We will see a good mix of improvements happening this year, with the funding leveraging a significant amount of private investment into the downtown core.”

The program which has been in place since 2013 has allowed local property and business owners to apply for financial assistance to improve the physical appearance and the overall vitality of their buildings. While building owners are approved for the grant, they do not receive any funding until the project is completed.  Successful applicants are provided two building seasons to have the work completed and inspected by the Town. Research has shown that the aesthetics of the downtown influence the shopping habits of prospective customers and visitors.

Now completing its sixth year, the CIP program has been able to facilitate more than $2 million in improvement projects. Eligible projects can include structural improvements, such as fire code upgrades, accessibility improvements to façade and signage projects aimed at improving the physical beauty of the buildings.

In addition, Council has directed administration to evaluate the program and process to find new efficiencies and make updates to this program to ensure that it continues to be effective in the future.

Copies of the Community Improvement Plan, the Façade and Streetscape guidelines, a map of the CIP area and CIP grant applications are available at the Town of Gravenhurst Municipal Office or at www.gravenhurst.ca/cip.

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For further information, please contact:

 

Jeff Loney

Manager of Economic Development

Town of Gravenhurst

Jeff.loney@gravenhurst.ca  

705-687-3412 Ext. 280