Downtown Development Incentive Program 2019 Launch
The Downtown Development Incentive Program (DDIP) is set to return for 2019. The Business Support Office will begin taking applications on Monday, March 25 at 9 a.m. These grants are available to qualified properties located in the Downtown Area Redevelopment Plan only (see map). A cap of $50,000 remains as the total for which any one civic address can qualify. The 2019 DDIP offers $200,000 in total funding availability and will be allocated on a first come first serve basis. Grant disbursement will end when the budgeted funds are fully subscribed. To review details and/or download an application form, visit www.medicinehat.ca/DDIP Property owners interested in arranging a time to discuss the programs and how to get started can call the Land and Business Support Office at 403.529.8148 or e-mail firstname.lastname@example.org
The DDIP continues to offer downtown property owners a series of incentives to assist them to redevelop or initiate new developments in the city centre and includes five options for financial assistance:
- Commercial Development – Access up to $25,000 towards major renovations or new construction of a commercial building.
- Multifamily Development – Access up to $25,000 towards redevelopment or new construction on a multi-family project consisting of 4 or more residential units with units a minimum size of 74 square metres (800 SF).
- Live/Work Residential Development – Access up to $5,000 to develop a residential living space with minimum unit size of 93 square metres (1000 SF) connected to their commercial building.
- Architectural/Visual Enhancements – Access up to $5,000 for facade and exterior building improvements.
- Environmental Site Assessment and Remedial/Risk Management – Access up to $20,000 to assist in the costs of environmental site assessments and completion of a remedial or risk management plan.