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Council Report: S 28/2020

Subject: Economic Revitalization Community Improvement Plan (CIP ) application submitted by KJ Land Resources Inc. for 3260 Devon Drive (Ward 9)

Reference:

To: Mayor and Members of City Council

RECOMMENDATION:

I. THAT the request made by KJ Land Resources Inc. to participate in the Business Retention and Expansion Grant Program BE APPROVED for 100% of the municipal tax increment resulting from the proposed development located at 3260 Devon Drive for up to 10 years or until 100% of the eligible costs are repaid pursuant to the City of Windsor Economic Revitalization Community Improvement Plan; and,

II. THAT, Administration BE DIRECTED to prepare an agreement between the City and KJ Land Resources Inc. and/or persons or companies that have legally been assigned the right to receive grant payments to implement the Business Retention and Expansion Grant Program in accordance with all applicable policies, requirements, and provisions contained within the Economic Revitalization Community Improvement Plan to the satisfaction of the City Planner as to content, the City Solicitor as to legal form, and the CFO/City Treasurer as to financial implications; and,

III. THAT, the CAO and City Clerk BE AUTHORIZED to sign the Business Retention and Expansion Grant Agreement; and,

IV. THAT the approval to participate in the Business Retention and Expansion Grant Program EXPIRE if the grant agreement is not signed by applicant within one year following Council approval. The City Planner may extend the deadline for up to one year upon request from the applicant.