Even though it was developed and approved before COVID-19, city officials say their new Growth Community Improvement Plan will be valuable tool in it’s post-pandemic economic development efforts.
The plan, which builds on existing programs, includes a package of expanded and enhanced business incentives to help support existing companies and new investment.
It’s all about spurring and supporting certain private-sector housing projects and development on industrial lands, along with the city’s downtown and waterfront areas.
“The COVID-19 pandemic has underscored the importance of lifestyle and the need to work safely and productively from anywhere in the world, making North Bay that much more attractive to businesses seeking locations outside of larger urban areas,” said Mayor Al McDonald in a release. “Companies not only have the ability to work remotely, but can offer their employees a more affordable place to live with more space.”
Under the new GCIP, each target area has unique programs to encourage sustainable development and the creation of industry and new jobs. Depending on the project, developments could qualify for incremental tax rebates for up to four years, as well as rebates for municipal fees, development charges, and professional studies.
In the Downtown and Waterfront Target areas, grants are available for facade and building improvements, public art projects, sidewalk patios, and parking and landscaping improvements.
Some development projects may also qualify for exemptions to parking requirements or parking and transit fee rebates.
“This will support job growth and economic development through the revitalization of the Downtown,” said Coun. Johanne Brousseau, Chair of Council’s Community Services Committee, adding incentives for the older housing stock in the core of the City to be renovated, converted and renewed are offered through the Housing Target Area. “This will assist in creating new housing units through the renovation and result in better upkeep in this area.”

(photo by station staff)

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