The table below summarizes key statistics (please note there are no tax incrementbased grants to report under the Ford City CIP):

Table 2: Grant Approvals Funded by Municipal Tax Increment 

CIP	Number of Approved Applications	Estimate Value of Approved Tax Increment Grants	Estimate of Increase in Property Value Assessment	Estimate of Private Sector Investment*
Economic Revitalization CIP	36	$21,621,570	$48,468,960	$254,960,195
Brownfield Redevelopment CIP	5	$7,802,541	$74,399,070	$119,813,597
Downtown CIP	8	$10,805,152	$51,584,075	$108,270,069
Sandwich Town CIP	7	$592,350	$4,170,653	$6,488,156

* The estimate of private sector investment is provided by the applicant at the time of application. Private sector investment shown above includes all programs under each respective CIP (e.g. programs funded by capital budget accounts and municipal tax increment.

It is noted that the information provided in the table above represent estimates of grant requests that have come forth and have been approved by Council. From these approvals, actual redevelopment has taken place on approximately 20 applications to date with grants being paid on 16 of said applications which have completed agreements and received the new assessment values as determined by MPAC. Estimated grant payments for 2020 (included in the 2020 budget) based on these executed agreements is $1,050,000.

CONSULTATIONS:

All CIPs were subject to stakeholder and public consultation as part of the approval process, including public meetings, a statutory public meeting and circulation among internal City staff and the Province.

CONCLUSION:

Staff provide this information to Council during budget deliberations, as requested in CR504/2019.

Approvals:

Name	Title
Laura Diotte	Planner III – Special Projects