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.