property.

Successful applicants may receive an annual grant for up to 100% of the municipal property tax increase created by an investment in development or redevelopment of a building or property — provided it conforms with the Economic Revitalization CIP. The annual grants may continue, at Council’s discretion for up to 10 years or until up to 100% of the eligible investment costs are repaid.

Proposed Construction

The applicant proposes to construct a one storey, 479 square metre (5,158 square foot) office building that would house a business immigration law office (Kadri Law) and business incubator (Start Up Central). Based on plans submitted by the owner approximately 50% of the gross floor area within the proposed building will be allocated to Start Up Central. The estimate cost of the proposed development is $1.2M.

Eligible Sector

Start Up Central proposes to provide prospective entrepreneurs with the resources, insight, and professional services needed to launch a business in Canada. Start Up Central is eligible under the Professional Services sector (defined below) Kadri Law is not an eligible use under CIP.

Professional Services (Business Incubator)

Business Incubator: is a facility or building that provides a flexible, affordable working space in combination with an array of business support resources and services intended to accelerate the successful launch and early development of start-up companies. A Business Incubator must demonstrate to the satisfaction of the Municipality that its business model and services provided focus on one or more of the following:

Employment

According to the CIP application, the proposed development would retain 6 jobs, which are currently based out of 110 Tecumseh Road East. 6-10 new jobs would be added over the lifespan of the grant program. Because the business has less than 20 employees — the application falls under the Small Business Investment Grant Program, which does not contain minimum job retention or creation requirements.