569 Pelissier Street Owner: 531 Pelissier Ltd.

170 Wyandotte Street Owner: 2695185 Ontario Ltd 

0 Victoria Ave. Owner: 2695185 Ontario Ltd

All three properties owned equally by : Philip Fernandes Designs Inc., BK

Cornerstone Design Build Ltd. & BK Distinctive Homes Ltd equally.

Principal Owners of Philip Fernandes Designs Inc.: Philip Fernandes and Amanda Fernandes

Principal Owners of BK Cornerstone Design Building Ltd.: Brent Klundert (50%),

Ben Klundert (25%), Sue Klundert (25%).

Principal Owners of Cornerstone Distinctive Homes Ltd.: Brent Klundert, Ben

Klundert, Sue Klundert (50%), 2492291 Ontario Ltd. (Chris MacLeod and Angela

MacLeod) (50%)

Discussion:

Building/Property Improvement Tax Increment Grant Program

This program is intended to provide economic incentive for the development, rehabilitation and redevelopment of properties in Downtown Windsor. The program provides an annual grant equal to 100% of the increase in municipal property taxes for five years, after the project is completed and reassessed to help offset the costs of rehabilitating and redeveloping properties, as long as such development results in an increase in assessment and therefore an increase in property taxes.

The proposed development is anticipated to increase the municipal assessment and therefore increase municipal taxes. This project qualifies for the Building/Property Improvement Tax Increment Grant and the Financial Matters section of this report discusses the estimated grant amount.

New Residential Development Grant Program

The New Residential Development Grant Program is intended to provide an incentive to stimulate residential development within Downtown Windsor. The program will consist of a grant whereby property owners will be eligible to receive a grant to $2,500 for every new residential unit, up to a maximum of $50,000 per property.

The owner proposes a five-storey mixed use building containing sixty-four (64) new residential units, therefore the project will reach the maximum grant of $50,000 under the program.

Planning Approvals

The subject proposal will require Site Plan Control. Typically, staff is delegated site plan control approval authority, however, in certain locations like downtown, City Council is the approval authority unless Council delegates approval back to staff.