Adopted by City Council May 26, 2008

The Program provides the following range of benefits regardless of location in the City:

1. Support investment in new buildings or significant renovations to existing buildings through a Grant to a maximum of 60% of a project’s municipal tax increment over a 10 year period
   
   
2. Taxes cancelled for brownfields remediation (contamination clean-up) if needed to a maximum value of three years of the tax increment created by the project and increasing the total benefit to a maximum of 67% of the tax increment over 12 years

 The Program is provided through 3 Community Improvement Plans (CIP):

• City-wide (including separate schedules for the Centres and Wallace Junction)
  
  
• the Waterfront
  
  
• the South of Eastern Employment District.

There are variations in the sectors and uses eligible for incentives from one CIP to another.

The Waterfront CIP consists of three Focus Areas:

• East Bayfront
  
  
• West Don Lands
  
  
• Port Lands

Some parts of the East Bayfront and Port Lands are excluded from the program. They will be added when a stronger planning framework for them is in place.

Targeted Sectors: The program generally targets the following sectors and uses:

1. Information and Communications Technology
2. Environmental Industries
3. Biomedical Operations
4. Creative Industries, except film studio complexes
5. Manufacturing, except in East Bayfront and West Don Lands
6. Tourism Attractions, except in South of Eastern
7. Corporate offices for the targeted sectors
8. Incubators and Convergence Centres
9. Corporate Headquarters in the downtown and near subway stations

 Office buildings are eligible for incentives, regardless of their occupants in the Centres in Etobicoke, North York and Scarborough (through the City-wide CIP); and in the Waterfront and South of Eastern.

Film Studio Complexes are only eligible for incentives in Wallace Junction (through the City-wide CIP), in the Port Lands and in South of Eastern.  Film Studio Complexes include accessory uses and associated uses.

In the Waterfront and South of Eastern, the City has the ability to acquire land, redevelop it, rehabilitate or expand buildings on it and dispose of the land or buildings at or below market value. 

For more detailed information go to www.toronto.ca/business  or

call Peter Finestone 416-392-3376