2019 Residential Tax Rate (municipal portion)	1.628394%
Current Municipal Tax Levy	$863
Investment (Estimated Eligible Costs)	$250,000
Estimated Post-Redevelopment Property Value Assessment	$190,000
Estimated Post-Redevelopment Municipal Taxes	$3,094

Property assessment values are assumed to remain constant throughout the period of the grant program for purposes of pro-forma calculations. Actual grant amounts will be calculated on an annual basis throughout the lifespan of the program and will be retroactive to date of completion, prorated for part year(s)

Risk Analysis:

The Building Department has not received nor conducted a review of the building plans to confirm compliance with the Ontario Building Code and applicable law (e.g. zoning by-law). A review of the drawings will be conducted to ensure that the City’s incentives are being used appropriately and the City is receiving good value for the public investment allocated through the Sandwich Incentive Program(s) “toolkit”. As a requirement of Section 28 (7.3) of the Planning Act, Administration has confirmed that the Grant amount does not exceed the total cost of the project.

The Development and Building Fees Grant Program will not be disbursed until all work is completed and inspected by Administration as per the Site Plan Control Agreement and Building Permit. The Revitalization Grant Program will not be dispersed until an agreement for the Sandwich Incentive Program have been registered on title between the owner and the City of Windsor and the property taxes for the applicable year paid.

There is little risk associated with approval of a tax increment-based grant such as the Revitalization Grant Program as the payments commence after the 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, grant payments would cease.

Financial Matters:

There is currently $674,909 in Account 7076176-Sandwich Community Development Plan to disperse the Development and Building Fees Grant identified in the table below for this project. However, $382,756 has been pre-committed through other applications approved by City Council, leaving $292,153 in available funds for new commitments. If this report is approved, $280,330 will remain in the account. 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) “toolkit”