The Aurora Promenade Community Improvement Plan (CIP) was approved by Aurora Town Council in February, 2014.  CIP’s are development tools under the Planning Act that allow a municipality to offer financial incentives to the private sector, in order to stimulate redevelopment.  

Aurora’s CIP was developed in consultation with local businesses, property owners and the Town’s Economic Development Advisory Committee. The CIP considers redevelopment needs within a specific designated area (see attached map) and offers the following programs:

Program 1:  Façade and Signage Improvement Grant

  • Eligible properties include commercial and mixed-use properties fronting Yonge Street and Wellington Street
  • A grant of up to 50 per cent of the eligible costs or a maximum of $15,000 per property, whichever is less  
  • Minimum grant for this program is $5,000, which means the minimum eligible project cost is $10,000

Program 2: Building Restoration, Renovation and Improvement Program

  • Program is applicable to commercial and mixed-use properties fronting Yonge Street and Wellington Street
  • A grant of up to 50 per cent of the eligible costs or a maximum of $40,000 per property, whichever is less   
  • Minimum grant for this program is $15,000, which means the minimum eligible project cost is $7,500

Program 3:  Development Charges (DC) Grant

  • Program is applicable to commercial developments and projects
  • Grant amount is up to 75 per cent of the Town's portion of the development charge to a maximum grant of $100,000 per property, whichever is less  

Program 4: Tax-Based Increment Grant (TIG) Program

  • Program focuses on the redevelopment of principal sites, which are identified by the Town   
  • Tax Increment Grant program leverages the increased assessment and property taxation generated by redevelopment to reduce financial costs of property rehabilitation and redevelopment
  • Program is applicable to non-residential and multi-unit residential developments and eligible projects include site development and infrastructure work,  including demolition and major building rehabilitation

Program 5:  Heritage Property Tax Relief

  • Program offers owners of an eligible heritage property a reduction in annual property taxes, levied for municipal and educational purposes
  • Intent of this program is to encourage the enhancement, restoration and/or preservation of heritage properties for commercial or commercial-mixed uses
  • Grant amount consists of a 10 to 40 per cent reduction of taxes for municipal and educational purposes for a period of five years   

Program 6:  Environmental Site Assessment Grant Program

  • Program provides Brownfield (contaminated) sites with assistance to fund a   Phase II Environmental Site Assessment (ESA)
  • Proposed grant amount for this program is 50 per cent of the cost of the ESA or $20,000, whichever is less

Program 7:  Environmental Remediation Tax Assistance Program

  • Program offers the cancellation of property tax increases that result from the remediation and redevelopment of contaminated sites  
  • Based on the Provincial Brownfield Financial Tax Incentive Program, which enables qualifying properties to receive tax assistance from the deferral of both the educational portion of the property tax on a matching basis with municipal portion of the tax for a specified period, following which the deferred taxes are officially cancelled