[CPEO-BIF] Canadian town sets up tax assistance plan for BF developers

[bobh@np.craigslist.org]

Tax assistance program for developers

by ALLAN BENNER
May 11, 2007

Welland, Canada

It's been a long time coming, and it'll be a long time yet before the city starts
to see the benefits of its newly-adopted Brownfield Community Improvement Plan and
Brownfield Redevelopment Strategy. But the initiative is a significant step towards
breathing new life into post-industrial land throughout Welland.

A major part of the initiative, which took about four years to develop, is the
brownfields tax assistance program, said Dan Degazio, the city's economic
development manager. He described it as a "tax incremental financing program,"
designed to assist people who hope to transform brownfield sites into viable
development properties.

In addition to the tax incremental financing program, the initiative includes
several other programs that land owners can access - including environmental site
assessment grants, brownfields rehabilitation grants, brownfields planning and
building permit fees refunds, and brownfields development charge exemptions. The
incentives, which vary in value depending on individual properties, apply to
brownfield properties throughout the city.

For the entire article, see:
http://www.wellandtribune.ca/webapp/sitepages/content.asp?contentid=523776&catname=Local%20News&classif=

Bob Hersh
CPEO

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