Community Improvement Plan Incentive Program

Community Improvement Plan (CIP)

The Community Improvement Plan (CIP) supports local revitalization, beautification and economic development in the Town of Prescott by providing financial incentives for downtown revitalization, employment lands, heritage properties, housing developments and brownfield projects.

The focus of the CIP is to:

  • Encourage the redevelopment & revitalization of downtown building stock and availability of downtown rental units;

  • Support the expansion and attraction of new commercial, industrial & professional properties to increase employment opportunities;

  • Stimulate the preservation and rehabilitation of existing historical and cultural assets to ensure their long-term viability;
  • Increase the supply of affordable rental and owned housing units; and

  • Remediate and redevelop brownfield sites.

CIP funding is available to businesses and private property owners to help offset project costs that achieve the Town’s community planning and development goals. Eligible projects can receive a combination of non-repayable grants, 0% interest loans and tax incentives.  Additional information can be found in the Town’s Community Improvement Plan.

The Corporation of the Town of Prescott
Community Improvement Plan (CIP) Fact Sheet

Date Issued: September 15, 2023

TAKE NOTICE: On May 1, 2023 the Town of Prescott passed By-law 19-2023, a “By-law to Adopt a Community Improvement Plan for the Town of Prescott”.

In order to ensure that the residents and businesses in the Town understand the Community Improvement Plan (“CIP”) and to clear up any misunderstandings about the CIP and how it is intended to work the Town is publishing this Fact Sheet.

Community Improvement Plan (CIP) Fact Sheet

CIP Program Guide & Supporting Documents

The Corporation of the Town of Prescott
Community Improvement Plan (CIP) Fact Sheet

Date Issued: September 15, 2023

TAKE NOTICE: On May 1, 2023 the Town of Prescott passed By-law 19-2023, a “By-law to Adopt a Community Improvement Plan for the Town of Prescott”.

In order to ensure that the residents and businesses in the Town understand the Community Improvement Plan (“CIP”) and to clear up any misunderstandings about the CIP and how it is intended to work the Town is publishing this Fact Sheet.

Community Improvement Plan (CIP) Fact Sheet

Review the CIP Incentive Summary Tables for an outline of available program incentives.

CIP Incentive Programs

Grant, loan and tax incentives to assist Downtown / RiverWalk District commercial property owners or tenants to improve building façade, signage, accessibility and interior commercial & residential spaces. 

Incentives:

  • Non-Repayable Grant: Up to $22,000 not exceeding 50% matching funds
  • Permit & Application Fees Grant: $1,000 or 10% of permit fees, whichever is higher
  • Interest Free Loan: Up to $100,000 not exceeding 50% of the total project value
  • Tax Increment Grant: Varying percentage starting at 100%, to off-set increase in municipal taxes from improvements, for up to 5 years.

Grant, loan and tax incentives to assist Employment Lands owners or tenants to improve building façade, signage, accessibility and interior commercial spaces & streetscaping. 

Incentives:

  • Non-Repayable Grant: Up to $13,000 not exceeding 50% matching funds
  • Permit & Application Fees Grant: $1,000 or 10% of permit fees, whichever is higher
  • Interest Free Loan: Up to $100,000 not exceeding 50% of the total project value
  • Tax Increment Grant: Varying percentage starting at 100%, to off-set increase in municipal taxes from improvements, for up to 5 years.

Grant and loan incentives to assist Heritage Property owners or tenants to improve building façade, accessibility and interior spaces. 

Incentives:

  • Non-Repayable Grant: Up to $9,000 not exceeding 50% matching funds
  • Permit & Application Fees Grant: $1,000 or 10% of permit fees, whichever is higher
  • Interest Free Loan: Up to $100,000 not exceeding 50% of the total project value

Grant and tax incentives to assist Brownfield Property owners with completing Phase 1 & 2 ESA studies and property remediation activities, to encourage the reuse, rehabilitation and redevelopment of contaminated sites.

Incentives:

  • Non-Repayable Grant: Up to $15,000 not exceeding 50% matching funds
  • Permit & Application Fees Grant: $1,000 or 10% of permit fees, whichever is higher
  • Tax Cancellation Grant: During the rehabilitation and development phase for a maximum of 3 years
  • Tax Increment Grant: Varying percentage starting at 100%, to off-set increase in municipal taxes from improvements, for up to 5 years

Grant and tax incentives to support the construction of rental and owned multi-unit residential developments with an affordable housing component.

Incentives:

  • Permit & Application Fees Grant: $1,000 or 10% of permit fees, whichever is higher
  • Tax Increment Grant: Varying percentage starting at 50%, to off-set increase in municipal taxes from improvements, for up to 5 years

CIP Application Process

Applicants should arrange a pre-consultation meeting with the Economic Development Office, in
order to discuss and confirm application requirements, program eligibility, the proposed scope of
work, project timing, supporting documentation requirements, etc.

Contact Economic Development Officer at dvalentyne@prescott.ca to schedule a pre-consultation.

Complete and submit the following application with supporting documentation attached to: dvalentyne@prescott.ca 

Applications can be submitted electronically (preferred) or in-person/mail.


CIP Application Form

  • Town staff will evaluate applications & supporting materials and may conduct a follow-up site visit.

  • Applications are reviewed by the Planning Advisory Committee (PAC), within approximately 30 days of receipt.  All PAC meetings are open to the public; applicants welcomed but not required to attend. 

  • Applicants will be notified of the application approval status within 2 days of the Planning Advisory Committee meeting.

  • For applications that are approved, a Funding Agreement will be prepared and executed.

  • The applicant must provide copies of supporting invoices and proof of payment to the Town, to receive project payments.
  • Payments are processed on a monthly basis.
  • The work will be inspected/verified for completion by the Town and, if approved, payments will be issued.

  • Works completed prior to application to the Town are not eligible. Exceptions may be available on a case-by-case basis if requested in advance of completing works.

  • Funding approval will lapse if projects are not completed within 24 months of the date of execution of the Funding Agreement.
  • Town staff may grant an extension for community improvement works following receipt of a written request by the owner setting out the reasons for the extension and providing a new date of completion.

  • Should the applicant fall into default or any of the requirements of the incentive program or to the requirements established by the Town, incentives may be delayed, reduced, or cancelled. Applicants may be required to repay benefits to the Town.

CIP Success Stories

Coming Soon!

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