COMMERCIAL VACANCY ASSISTANCE (CVA) PROGRAM
|Overview: The Program will provide financial assistance in the form of a Grant to new permanent or ‘pop-up’ commercial tenants of a presently vacant at-or-below-grade commercial space to make permanent interior improvements to improve the attractiveness and usability of the space for the intended commercial use.
Who: Grants provided under this Program shall be provided to an Applicant who is an authorized commercial tenant of a property that is the subject of the Program application. The intended commercial use must be accessible to the public/customers and may include, but not be limited to, retail uses, artist studios/galleries containing a retail component, personal service businesses, microbreweries, commercial entertainment uses, commercial recreation uses and/or dine-in or take-out restaurants.
Amount: The maximum Grant amount under this Program is paid on a matching basis (50%-50%) for eligible work to a maximum of a. $5,000 where the Applicant has entered into a lease term of between no less than three months and no longer than six months less a day; or b. $10,000 where the Applicant has entered into a lease term of six months or longer.
Where: This Program will apply to commercial units on properties zoned to permit commercial uses within the Ancaster, Barton Village, Binbrook, Concession Street, Downtown Hamilton, Dundas, Locke Street, Ottawa Street, Stoney Creek, Waterdown and Westdale Commercial District CIPAs, the Mount Hope/Airport Gateway CIPA and the Strategic Commercial Corridor CIPAs.
Goals: Modern and updated commercial spaces and commercial area vibrancy.