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ERASE Redevelopment Grant Program (ERG)

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Grants are available to provide financial relief to property owners who undertake and complete brownfield redevelopment projects within the project area. Redevelopment grants are only payable on brownfield properties where the redevelopment results in an increase in assessed value and property taxes. The grant is calculated as 80% of the increase in the municipal portion of property taxes and is paid on annual basis for up to 10 years, commencing once the redevelopment is complete. An application must be made to the City in order to be eligible for a Redevelopment Grant. Only costs incurred after an application is approved by the City can be included in the grant payment.