The Province of Ontario has approved $2.8 million in funding over five years to rebate Regional and Education Development Charges paid for the construction of purpose-built market rental units in the City of St. Catharines.
Niagara Region will administer the program on behalf of the City.
Approval of applications is subject to Provincial approval of the Region's Take-Up Plan.
Applications open July 30, 2018 at noon.
Rebates approved by the Region will align with the Province's allocation for the City, net of funding for administrative costs:
|1||April 1, 2018 - March 31, 2019||$552,400|
|2||April 1, 2019 - March 31, 2020||$518,000|
|3||April 1, 2020 - March 31, 2021||$545,000|
|4||April 1, 2021 - March 31, 2022||$552,000|
|5||April 1, 2022 - March 31, 2023||$542,000|
Development must be purpose-built market rentals in the City of St. Catharines. Purpose-built includes high-rises, mid-rises and town homes. It does not include single, semi-detached, duplexes / triplexes and retirement homes.
|1 bedroom apartment||$801||$821|
|2 bedroom apartment||$955||$989|
|3+ bedroom Apartment||$1,106||$1137|
|2 bedroom row structure||$970||$989|
|3+ bedroom row structure||$1,140||$1137|
Approved development must:
Approvals will be provided on a first come, first serve basis. However, this is subject to change based on interest.
Niagara Region reserves the right to modify the approval criteria in the future depending on interest and availability of funding. Future priority approval may be given to developments based on the following parameters:
Approved developments will pay the development charge prior to issuance of the building permit and will be provided with the rebate as follows:
To obtain an application for the Development Charges Rebate Program, contact:
905-980-6000 ext. 3272 or 1-800-263-7215
Email Rob Fleming