Financial incentives are once again available for businesses and property owners to continue the revitalization of Downtown Kemptville. In 2021, Council approved the Downtown Kemptville Community Action Plan (DKCAP), which focuses on connecting people and supporting more development in the core. It also includes a refreshed Community Improvement Plan (CIP), that promotes investment and revitalization downtown.
“Downtown Kemptville is one of the primary anchors in our community. It is a scenic and dynamic area that hosts many lively events and vibrant businesses. Programs like the CIP uphold our commitment to supporting the downtown core and fostering economic development beyond the CR 43 corridor,” said Mayor Nancy Peckford.
As part of the Downtown Kemptville CIP, intake is now open for the following financial programs:
Façade & Signage Grant: covers 50% of the costs up to $10,000 of high-quality improvements to the frontage of buildings.
People Make the Place Grant: $5,000 is provided per residential unit created in upcoming multi-unit residential builds.
Building Fees Grant: up to $2,500 is provided for multi-unit residential developments to offset the costs of building fees.
Tax-Increment Equivalent Residential Grant: reimbursement of the municipal portion of the incremental property tax for new multi-unit residential developments, starting at 90% and decreasing by 10% per annum over ten years.
Council has also continued to extend the Development Charges Exemption for the downtown area in order to further diminish the costs to build in the downtown core.
Intake is on a rolling basis until funds are exhausted.
“The Community Improvement Plan provides essential support for downtown businesses to put their best face forward, which is critical in a year with so many exciting events planned. It also supports the creation of new residential units in the downtown, which benefits those businesses and provides more housing options for the community,” Meagan Cumming, Chair of the Downtown Kemptville BIA.
To learn more and to review the full program guidelines visit: www.investnorthgrenville.ca/doing-business/funding.