The establishment of a Community Improvement Plan (CIP) aligns with the Term of Council Priorities as a “City of Opportunities” and is another step towards restarting the local economy and furthering Brampton’s competitive advantage. The Province of Ontario’s Planning Act allows local municipalities to designate an area as a Community Improvement Project Area offering financial and non-financial incentives to the private sector to create employment opportunities and amenities needed for a growing City.
Among the potential tools to be offered under the CIP, the initial incentive will be a Tax Increment Equivalent Grant (TIEG) aimed at attracting office employment including complementary uses such as research and lab space. The TIEG is a grant, or rebate, to offset a portion of the property tax increase the business owner will face.
Brampton’s CIP aims to attract additional employment in its key sectors: innovation and technology; entrepreneurship; health and life sciences; and advanced manufacturing. Current market conditions in Brampton support the continued investment in new construction in each of these areas.
Increasing investment in projects for quality office space also fosters an environment of “complete communities” where residents can live, work, and learn.
Staff Report (March 31, 2021) for City-wide Community Improvement Plan Program for Office Employment.
Central Area Community Improvement Plan
The Central Area Community Improvement Plan (CIP) was approved by Council in November 2007, came into force in January 2008 and was amended in June 2010. The CIP establishes a toolbox of programs designed to support specific planning objectives by aligning financial incentives with the identified planning goals.
Yearly update reports are provided giving a status on the CIP and its programs and new program development.
Individual incentive programs are established by way of approval of Implementation Guidelines and corresponding budget.