Brownfields Financial Tax Incentive Program (BFTIP)

Description

The Brownfields tax incentive program (BFTIP) is a financing tool from the Government of Ontario that helps municipalities give tax assistance to clean up brownfield properties.

• It provides provincial education property tax assistance to match municipal property tax assistance for cleanup of eligible brownfield properties. Under the program, the province can cancel all, or a portion of the education property taxes of a property for up to three years. Municipalities can apply for an extension prior to the termination of the tax assistance.
• Cleaning up the contamination and reusing the land to make way for places like houses, offices, schools and recreation centres slows urban sprawl and supports: intensification; neighbourhood rejuvenation; the use of existing infrastructure.