The purpose of the Economic Growth Grant Program is to help diversify the local economy and stimulate job growth by attracting new businesses and expanding existing ones that are engaged in primarily export-oriented activities.
To achieve this, the EGCIP provides two grant programs for approved applicants:
- Grant Program 1: A grant of up to $100,000 per project or as approved by City Council.
- Grant Program 2: A grant of up to 100 percent of the incremental increases in the municipal portion of the property taxes for up to three years resulting from the development, rehabilitation and reassessment of lands and buildings within the Project Area.
The grant programs will be administered by the EGCIP Committee, which comprises representation from the City’s Community Development, Finance, and Planning Departments.
All grant applications will be reviewed by this committee, with the final decision made by City Council.
Learn more and apply for the EGCIP Grants Programs.
Community Development Fund
The City's Community Development Fund enhances the existing funding programs by:
- Clarifying administration and accountabilities for the funding programs;
- Providing consistent funding application processes and timing;
- Utilizing new criteria that better reflects the Corporate Strategic Plan, FutureSSM Community Development plan and economic & tourism development strategies; and
- Consolidating certain programs with a goal of greater community impact.
The focus and criteria of the Community Development Fund supports the four pillars of the FutureSSM community development plan:
- Economic Growth and Diversity
- Cultural Vitality
- Social Equity
- Environmental Sustainability
Funding opportunities are as follows: