Similar to the Redevelopment Grant Program, this program will provide a financial incentive in the form of a freeze or cancellation of part of the educational tax portion on a brownfield property.
Under this program, the Province of Ontario may match the municipal tax treatment for the education portion of the property tax that results from remediation and rehabilitation of the property. This is paid on annual basis for up to three years, beginning once the redevelopment is complete.
For eligibility criteria and how to apply, see the ERASE Redevelopment Grant Program.
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