Timmins City Council has approved a new Housing Community Improvement Plan (CIP), a community revitalization tool designed to encourage new housing development and address the current and future housing needs of Timmins.
The City’s Housing CIP includes three financial incentive programs aimed at supporting a range of housing projects, from small-scale developments to larger residential expansions.
Per Door Grant Program
Provides a one-time grant of up to $7,500 per unit to support small scale residential development that includes a minimum of 2 and maximum of four new dwelling units.
Tax Increment Rebate Program
Supports larger developments that provide five or more residential units. Developers can apply for an annual rebate on a portion of the municipal property tax increase, the difference between the property taxes before and after development, on eligible residential properties. The rebate is applied over five years as a percentage refund.
Municipal Fee Rebate Program
Reimburses up to 100% of Planning Act application fees for qualifying housing projects, including zoning by-law and official plan amendments.
“Our goal with this plan is to increase the overall supply of housing in Timmins, which includes encouraging a broader mix of housing types to suit the diverse needs of current and future residents. This is about taking direct, meaningful action to advance housing development in our community in a manner that aligns with long-term planning and future sustainability.” ~ Mayor Michelle Boileau.
Council has also approved the Housing Community Improvement Area that identifies properties eligible to apply for financial incentives under the Plan. The Project Area follows the settlement boundary areas of the five wards as described in the City of Timmins Official Plan. This ensures that housing development is supported across the community in areas where growth is planned and critical infrastructure is serviced.
Program guidelines and application forms will be available at: www.timmins.ca/doing_business/community_improvement_grants.
|