This grant is to be used to encourage the development of properties which have a Phase 2 ESA completed and a record of site condition cannot be filed because the property does not meet certain Environmental Protection Act Standards. The Development must also result in job growth and/or retention and an assessment increase.
The grant is provided in two parts; the first rebates a portion of municipal charges associated with the building or demolition and the second provides a partial tax relief on the new value. Tax relief can continue for as long as 5 years and be to a maximum of 50% of the cost of the remediation.
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