The Town of Cobourg's Planning and Development Division is proud to announce the implementation of the 2019 Downtown Cobourg Vitalization Community Improvement Plan, with a July 5 deadline for applicants hoping to take advantage of this year's program.
Director of planning and development Glenn McGlashon stated in the town's press release that the CIP provides a comprehensive tool kit of financial incentives that are designed to address the downtown's community-improvement needs.
“The CIP program also helps us achieve our vision for Downtown Cobourg as outlined in the Downtown Vitalization Action Plan and the Downtown Master Plan,” McGlashon added.
The 2019 intake opportunity is now extended to properties located within the defined eligible project area, with incentives that include grants and loans for work proposed under the following programs:
Study Grant Program
Facade Improvement Grant/Loan Program
Building Improvement Grant/Loan Program
Residential Grant/Loan Program
Vitalization Tax Increment Grant Program
Brownfields Tax Assistance Program
Vitalization Development Charge Grant Program
Fees Grant Program
Cobourg council approved the implementation plan for the 2019 intake in March, including a greater focus on larger improvement projects in the downtown area, including (but not limited to) intensification and/or refurbishment of the upper floors of downtown buildings that result in new or improved residential dwelling units and/or commercial space, as well as major building- and facade-improvement projects and securing a landmark or anchor business in the downtown.
In April, council approved a $75,000 budget for the 2019 CIP intake program.
Following the July 6 application deadline, evaluation of applications will begin. A staff report is expected for the Sept. 3 committee-of-the-whole council meeting and a final decision by Sept. 9. Implementation of the council decision will take place through September and October.