The City of Quinte West is allocating reserve funds towards beautifying and partnering with businesses in the municipality.
On Wednesday evening, council approved the Commercial and Tourism Community Improvement Plan.
According to the CIP, the focus is to encourage, accelerate and facilitate desirable revitalization and redevelopment that has clear public interest goals.
It has been around since 2005 and since its inception, has provided 113 grants or loans worth $600,000. Much has been allocated towards façade or building improvements within the municipality.
The funds within the reserve are to be applied for, to coincide with private investment.
The CIP priority zones are Trenton and Frankford downtowns and commercial areas.
The manager of Economic Development and Tourism Linda Lisle says the program was closed in 2024, but it is all systems go in the new year.
“We have received inquiries for mainly façade and some signage improvements. Looking at the new incentive amounts, we’re hoping that many of the businesses would maximize those amounts as part of the program. We’re looking for significant private investment.”
Here are some of the main objectives of the CIP:
- Increase building improvement projects and retain employment opportunities;
- Attract new businesses and retain and support existing businesses in the City;
- Support downtown revitalization of storefronts and streetscapes;
- Increase attainable housing stock and/or rental units in the downtown core areas;
- Increase and diversify the City’s overall tax base;
- Implement functional and aesthetic improvement properties such as façades, signage and landscapes;
- Promote the redevelopment and/or conversion of underutilized and vacant properties;
- Promote the ongoing viability and revitalization of the Downtown Core Areas as the focus of pedestrian-oriented retail, commercial, office, cultural, entertainment and government uses;
- Develop the inventory of overnight tourist accommodation by providing incentives.
You can see the full Community Improvement Plan by CLICKING HERE
