THUNDER BAY -- Downtown Westfort would be included in a proposed grant and tax relief program that city administration hopes will stimulate the commercial sectors.
On June 20, City council will consider three proposals under the Community Improvement Plan umbrella that are designed to improve the appearance of businesses in the North and South Cores as well as the Westfort Business Area along Frederica Street.
“We’ve identified Westfort as a key business area and certainly an area that has suffered some decline in the last number of years, worthy of some assistance in terms of their revitalization efforts,” said planning services director Leslie McEachern.
Options for consideration in the 2017 budgeting process will include rebating or waiving fees for building permits, a lump sum for redevelopment or improvements available when construction is complete or a tax rebate for the full value of taxes resulting from increasing property values after improvements.
McEachern said specific funding for the programs will depend on the city’s financial situation, come spring.
“I would imagine we’d only be offering one of those programs at a time. We’re going to do the tax grant or we’ll do the upfront grant. It really depends on where we are as a municipality.”
The Community Improvement Plan is a renewed commitment of the decade-long program with the same name that ended in 2014.
The former program included loans whose high interest rates limited interest among business and property owners and cash exchanges that city management found cumbersome.
“I think from an administrative process standpoint, we really tried to tighten up the programs and make them more flexible and easier to administer,” McEachern said.
“In terms of the rebates we were offering, there was a cash payment that was rebated. We’re just waiving those fees this time around so it will be a lot easier for us to administer and it be easier for everybody in the program as well. There will be no fees associated with their development.”
