following:

1. Acquire, hold, clear, grade or otherwise prepare land for community improvement;

2. Construct, repair, rehabilitate or improve buildings on land acquired or held by it in conformity with the community improvement plan;

3. Sell, lease, or otherwise dispose of any land and buildings acquired or held by it in conformity with the community improvement plan; and

4. Make grants or loans in conformity with the CIP to the registered owners, assessed owners or assignees to pay for eligible costs.

A CIP may prove to be a useful tool for supporting the construction of new affordable housing units because it will allow the City to:

• Implement the strategies and actions identified in Goal 1: Sustain and Expand Social and Affordable Housing Supply in the Home, Together: Windsor Essex Housing and Homelessness Master Plan, where possible;

• Define “affordable housing” based on local needs, with the definition being used for the purpose of the CIP and its proposed incentive programs;

• Establish CIP objectives to address the provision of affordable housing and other supporting activities;

• Identify opportunities to develop incentives and/or programs to support the development of affordable housing;

• Actively participate in land acquisition, clearing land, and selling land to support affordable housing;

• Identify changes needed to land use planning policies, zoning, and/or other bylaws, policies, and practices; and

• Identify monitoring measures to assist with future affordable housing reports and to allow for the adjustment of affordable housing programs over time.

Tax Increment Financing Grants (TIF)

Although branded and structured a little differently in each CIP, one of the most useful and sought after grant programs that is included in all of the City’s current CIPs is the Tax Increment Financing Grants. Generally, this program provides an annual grant equal to 100% of the increase in municipal portion of property taxes for between five and ten years depending on the CIP, and criteria of the program. The amount of the