BARTON / KENILWORTH TAX INCREMENT GRANT (BKTIG) PROGRAM
|Overview: This Program is intended to provide a Grant to incentivize property owners in the project area to develop, redevelop or otherwise improve properties and/or buildings (including designated heritage buildings) in a manner that will support the broader revitalization of these districts as well as generate new municipal property tax revenue through increased property assessments. |
Amount: Grants are provided relative to the actual increase in municipal property taxes that are generated as a result of an improvement/development undertaken on a property. Grants are provided over a maximum term of nine annual payments and subject to City Council approval.
Where: This Program applies within the following Community Improvement Project Areas: Barton Village Commercial District; the Barton Street East and Kenilworth Avenue North Strategic Commercial Corridors; and Properties within the Downtown Hamilton Commercial District which front on Barton Street East between James Street North and Victoria Avenue North.
Goals: development, redevelopment, property improvement, heritage