6.3 Project Feasibility Study Grant Program

6.3.1 Purpose

The purpose of the Project Feasibility Study Grant Program is to promote the undertaking of feasibility studies so that potential investors can obtain more and better information with respect to the costs of reusing, rehabilitating and retrofitting brownfield buildings and lands.

6.3.2 Description

The Project Feasibility Study Grant Program will provide a matching grant of 50 per cent of the cost of an eligible feasibility study to a maximum grant of $5,000 with a maximum of one study per property. Eligible feasibility studies include but are not limited to:

  1. Structural analyses
  2. Evaluation of mechanical and electrical systems
  3. Concept plans
  4. Market analyses
  5. Any other feasibility study as approved by the City

Review and evaluation of an application and supporting materials against program eligibility requirements will be done by City staff and a decision on the grant application will be made by City staff, subject to delegation of this approval authority from Council. Applications will be processed and approved on a first come, first serve basis, subject to availability of funding as approved by Council.

Grants approved under this program would be provided to applicants following submission to the City for review of the final completed study with the original invoice, indicating that the study consultants have been paid in full. The grant will be paid on the lesser of a cost estimate provided by the consultant conducting the study or the actual cost of the study. The grant may be reduced or cancelled if the study is not completed, not completed as approved, or if the consultant(s) that conducted the study are not paid. The applicant will agree to provide the City with permission to provide the study to subsequent owners and interested parties, should the applicant decide not to proceed with reuse, rehabilitation or retrofitting of the site.

The Project Feasibility Study Grant Program will commence on or after the date that this Plan comes into effect and will be offered for an initial period of five years, with an option to extend the program for up to another five years, subject to the availability of funding as approved by City Council.

6.3.3 Requirements

Applicants are eligible to apply for funding under this program, subject to meeting the general program requirements, the following program requirements, and subject to the availability of funding as approved by Council:

  1. A grant application must be submitted to the City prior to the start of any feasibility study to which the grant will apply.
  2. If the applicant is not the owner of the property, the applicant must provide written consent from the owner of the property to make the application and conduct the study.
  3. Feasibility studies shall be for the purpose of:
    1. Structural analyses
    2. Evaluation of mechanical and electrical systems
    3. Concept plans
    4. Market analyses
    5. Any other feasibility study as approved by the City
  4. Applications will include:
    1. A detailed study work plan
    2. A cost estimate for the study
    3. A description of the planned redevelopment, including any planning applications that have been submitted/approved
  5. All completed feasibility studies must comply with the description of the studies as provided in the grant application form.
  6. One electronic and one hard copy of the study findings shall be submitted to the City for the City’s review and retention.

6.3.4 Administration

Guidelines for the administration of this program are attached in Appendix E. Appendix E does not form part of this Plan. The Guidelines for administration of this program may be changed from time to time, as required, without amendment to this Plan.

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