By Al Ruggero
After months of false starts and cycles of pandemic lockdowns, mandates, and covid restrictions, there are signs that the City of Toronto is renewing its efforts in helping small businesses re-establish their footing and getting our local economy going.
One of the indicators is that the City of Toronto has just announced that it is bringing back the Commercial Façade Improvement Grant Program (CFIGP) starting March 2.
The Commercial Façade Improvement Program helps commercial property owners and their business tenants to redesign, renovate and restore facades on commercial buildings at the street level.
We welcome this news for many reasons. The pandemic has had unprecedented impacts on our small and medium businesses, with many closing their doors forever. Vacancies are up, and there is a need for a fresh start for others. These grant programs help to incentivize investments in business improvements that are vital to attracting new customers and revitalizing commercial areas. In addition, other programs such as the CafeTO Property Improvement Program help with improvements to parking and outdoor lighting. The grants can be combined but do require separate applications. As of this writing, the application for the CFIGP will become available after March 2.
Typically, the grants cover up to 50 percent of the cost of the improvements with maximum amounts paid by the city.
In the case of the Commercial Façade Improvement Grant Program, the grant amount is $12.500 based on $25,000 of the value of the eligible work. The program runs until the funds are allocated, and it is on a first-come basis, provided that the application meets the eligible criteria. Hence, we urge our members, if interested, to act swiftly.
For more information on Business Incentives in the City of Toronto, please visit
www.toronto.ca/business-economy/business-operation-growth/business-incentives/commercial-facade-improvement/You can also reach me at:
al@emeryvillagebia.ca
Mobile: 416 809 8130
Also, in recent announcements, the Ontario Government announced in mid-February that up to 300,000 businesses will receive rebates on their WSIB annual premiums starting in April. The Workplace Safety and Insurance Board will be refunded up to $28,000 for employers (deemed safe employers) of between 80 to 125 employees. All safe employers will be refunded approximately 30 percent of their annual premium. The money is to come from the $6.4 billion reserves. The government also announced that this is in addition to the $2.4 billion allocated through previous premium reductions:
news.ontario.ca/en/release/1001609/ontarios-safe-employers-receiving-up-to-15-billion-rebate
Al Ruggero is Project Manager for Emery Village BIA