The Revitalization Grant If the applicant is eligible for the Revitalization Grant it will not be disbursed until an agreement has been registered on title between the owner and the City of Windsor, and not until all work is completed and inspected by Administration as per the Heritage Alteration Permit and Building Permit, and not until annual taxes for the property have been paid in full. Payments will not commence until all eligible work has been completed and the property reassessed by MPAC, and will only continue if the development remains eligible in accordance with the Sandwich CIP. Should the development fail to meet its requirements under the CIP, no grant payments would be provided.

Mixed Use Building Improvement Loan Program If improvements do not result in an increase in tax assessment and the applicant is not eligible for the Revitalization Grant, then the repayment dates concerning the Mixed Use Building Improvement Loan Program will be clearly identified in a loan agreement registered on title between the City and applicant. The loan will be repaid within a 5 year period and if the applicant fails to pay the agreed upon amount and by the stated date the amount due will be tied to the property tax roll should operations cease prior to full repayment roll and collected in the same manner as property taxes.

The following grants will not be disbursed until all work is completed and inspected by Administration as per the Heritage Alteration Permit and Building Permit:

Financial Matters:

Except for the Revitalization Grant, the owner will be reimbursed through Project # 7076176-Sandwich Community Development Plan. The Revitalization Grant is funded through the foregone municipal portion of the annual tax levy. There is currently $647,909 in Project # 7076176-Sandwich Community Development Plan to disperse the Commercial/Mixed Use Building Facade Grant Program, Commercial Core Feasibility Grant Program, Development and Building Fees Grant Program, and the Commercial/ Mixed Use Building Improvement Loan Program identified in the table below for this project. However, $293,290 has been pre-committed through application reports approved by City Council, leaving $354,619 in available funds for new commitments. If this report is approved, $292,153 will remain in the account. The planned disbursements includes the $30,000 loan but excludes the Revitalization Grant. The $30,000 loan will be repaid back to Project 7076176 over a 5-year period. The Discussion Section of this report also identifies which programs and how much of a grant the applicant is eligible for under the Sandwich Incentive (s) Program(s).