purpose and financial incentive programs offered through each CIP and the financial matters section will provide a snapshot of key statistics.

Each CIP has a monitoring program built into the CIP, which outlines reporting and review cycle timelines. At the time of review (usually every 5 years after approval of the individual CIP), staff will provide comprehensive statistics, analysis of each program, and recommendations relating to any amendments. The Economic Revitalization and Brownfield Redevelopment CIPs are currently under review with updates to be provided to Council later in 2020.

Section 28 of Ontario's Planning Act gives municipalities power to implement Community Improvement Plans, which are meant to target areas in need of improvement because of "age, dilapidation, overcrowding, faulty arrangement, unsuitability of buildings or for any other environmental, social or community economic development reason" (Section 28 (1) of the Planning Act). Therefore, as shown on the map contained in Appendix A, the Community Improvement Project Areas are located in areas where these conditions are present. Tailored incentive packages are created for each CIP area to stimulate investment that is intended to act as a catalyst for other investment in the area. Council has also approved two City wide CIPs that target economic development and brownfield remediation.

DISCUSSION:

The City has six (6) active CIPs that offer financial incentives to encourage tailored development/redevelopment in targeted neighbourhoods, targeted economic sectors or for the purposes of brownfield remediation.

The following is an overview of the CIPs, their purpose, and the financial incentive programs offered:

Economic Revitalization Community Improvement Plan

The purpose of this CIP is to encourage new investment in targeted economic sectors for the purposes of diversifying the local economy and creating/retaining jobs.

The following financial incentive programs are offered City-wide:

•  Business Development Grant Program is available to new manufacturing businesses creating a minimum of 50 new jobs or new businesses in other eligible sectors creating a minimum of 20 new jobs;
•  Business Retention and Expansion Grant Program is available to existing manufacturing businesses creating or retaining a minimum of 50 jobs or other eligible businesses creating more than 20 new jobs or retaining a minimum of 35 jobs;
•  Small Business Investment Grant Program is available to new or existing manufacturing businesses that have less than 50 employees or other eligible businesses that have less than 20 employees; and
•  Development Charges Grant Program may provide a grant equivalent to the development charges owning.