New Financial Incentives for Downtown
There’s a lot going on in Downtown Hamilton these days.
In 2011 alone, the International Village BIA and the Downtown Hamilton BIA accounted for nearly 40 new businesses in the core. Coupled with the announcements of all-day GO service coming soon, the creation of the McMaster Public Health facility at the corner of Main Street and Bay Street and the commencement of construction on a new hotel (Staybridge Suites), there is a sense of great renewal and activity in the core.
To accelerate this growth, Hamilton City Council recently expanded the areas where the Downtown Financial Incentive programs can be offered. These programs are designed to provide very low to no interest lending opportunities and grants to downtown developers, building owners and businesses and work is underway to expand the no development charge policy that applied to the former Community Improvement Plan (CIP) area to the expanded CIP area. Two new financial incentive programs include the Gore Building Improvement Grant Program and the Hamilton Downtown Commercial Façade Property Improvement Grant Program