Downtown Windsor Community Improvement Plan (CIP) | Building/Property Improvement Tax Increment Grant Program

This program encourages improvements to property/buildings in downtown by offering a grant in the amount of the increase in municipal taxes as a result of the property/building improvements. The Building/Property Improvement Tax Increment Grant Program is intended to provide economic incentive for the improvement of properties in Downtown Windsor by providing a financial incentive that reduces any tax increase that can result when a property is rehabilitated, redeveloped or developed and may provide assistance in securing project financing

An annual grant equal to 100% of the increase in municipal property taxes for five years, with the possibility of an extension up to a total of ten (10) years, after the project is completed and reassessed.

• Projects eligible for the Building/ Propert Improvement Tax Increment Grant Program include existing commercial, residential and mixed use buildings, and vacant properties where the development, redevelopment or rehabilitation project results in an increase in the assessed value and taxes on the property. 
• Registered property owners and/or assignees will be eligible to receive a grant for 100% of the municipal portion of the tax increment generated from the improvements made to the building or property for a defined period of time. 
• The development, redevelopment, adaptive reuse or rehabilitation of the building and/or property must result in an annual grant (or tax increment) of at least $500 for properties that are taxed at the “residential” tax rate, or $1,000 for all other tax categories. 
• Determination of compliance with the requirements of this program and the amount of the property’s grant (within the permitted terms of this program) is at the discretion of and subject to City Council approval. 
• Grants will be made upon successful completion of the approved work and documentation of the eligible costs associated with the work. The City may undertake an audit of work done and eligible costs if it is deemed necessary, at the expense of the applicant. 
• The Building/Property Improvement Rebate Grant Program may be passed on to subsequent owners, including individual residential unit owners, for the amount and time left in the original grant payback period with City Council’s approval. Subsequent owners will be required to enter into an agreement with The City that outlines the details of the remaining grant amount, eligibility and financial obligations. 
• The grant will be forfeited and repaid to The City if the property is demolished or altered in a manner that does not comply with the CIP before the grant period elapses.

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