The Business Improvement Program for 2018 was launched on Wednesday, according to a release from the City of Corner Brook.
The program is an initiative aimed at improving the frontal appearance and/or landscaping of commercial properties in the city, while maintaining their traditional character and appeal.
A total of $50,000 in property tax credit is available. Applicants need to include at least three of the eligible improvements listed on the application form. The tax credit is up to 50 per cent of the project value, to a maximum of $10,000 tax credit.
Applications will be evaluated on design, property visibility, application quality, and overall property improvement potential and impact.
The program goal is to provide incentive to property owners through a tax credit to conduct building improvements that provides Corner Brook with a more interesting and appealing environment, and attract people and businesses to the area.
Applications will be considered and approved on a first qualifying basis, until the entire $50,000 tax credit has been committed. The program will conclude on Dec. 15.
City staff will be available for consultation on proposed design prior to submission.
A property can be considered only once under the program. The 2018 applications and guideline are available online at http://www.cornerbrook.com/investing-incentives/, via email at [email protected], or by contacting business faciliatator Manas Mukhopadhyay at 637-1551.
In 2017, six applications were approved under the Business Improvement Program:
|
Property Address |
Applicant |
Tax Credit Approved |
|
89 West Valley Road |
Brother's Law |
$10,000.00 |
|
Caribou Road |
HM Audio |
$8,166.00 |
|
45 Main Street |
Starling’s Bar |
$5,000.00 |
|
100 Broadway |
Trophy Shop |
$5,977.07 |
|
70 West Street |
Louis Gee's |
$10,000.00 |
|
50 Main Street |
Fairway Holdings |
$10,000.00 |
|
Total |
$49,143.07 |
