Downtown Development Incentive Program 2020 Launch
Medicine Hat – The Downtown Development Incentive Program (DDIP) is set to return for 2020. The Business Support Office began taking applications on Monday, March 16 at 9 a.m.
The DDIP continues to offer downtown property owners a series of incentives to assist them to redevelop or initiate new developments in the city centre and includes five options for financial assistance:
- Commercial Development – Access up to $25,000 towards major renovations or new construction of a commercial building.
- Multi-family Development – Access up to $25,000 towards redevelopment or new construction on a multi-family project consisting of 4 or more residential units with units a minimum size of 74 square metres (800 SF).
- Live/Work Residential Development – Access up to $5,000 to develop a residential living space with minimum unit size of 93 square metres (1000 SF) connected to their commercial building.
- Architectural/Visual Enhancements – Access up to $5,000 for facade and exterior building improvements.
- Environmental Site Assessment and Remedial/Risk Management – Access up to $20,000 to assist in the costs of environmental site assessments and completion of a remedial or risk management plan.
These grants are available to qualified properties located in the Downtown Area Redevelopment Plan only (see map). A cap of $50,000 remains as the total for which any one civic address can qualify. The 2020 DDIP offers $200,000 in total funding availability and will be allocated on a first come first serve basis. Grant disbursement will end when the budgeted funds are fully subscribed.
“It’s exciting for both owners and residents to see the redevelopments in the downtown,” says Sandra Blyth, Director of Economic Development for the Invest Medicine Hat. “The cumulative effect of the DDIP program launched in 2011 is evident throughout the area with new businesses and residences bringing back the vitality of our downtown.”
To review details and/or download an application form, visit medicinehat.ca/DDIP. Property owners interested in arranging a time to discuss the programs and how to get started can call the Land and Business Support Office at 403.529.8148, or e-mail firstname.lastname@example.org.
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For further information, please contact:
Director of Economic Development, Invest Medicine Hat
City of Medicine Hat