The City of Belleville recently instituted Community Improvement Plan (CIP) is attracting a lot of interest.
Monday city council will see three applications for the plan’s financial incentives that if approved could lead to the
development of 81 affordable rental units.
The three projects would be located at 7 Aldersgate Drive, Dundas Street East at Burnham Street, and on North Park Street.
The largest of the projects would be on Aldersgate Drive, where 50 affordable apartments would be built as part of an 84-unit building.
Under the CIP, the developer would be eligible for a maximum of $54,800 a year tax rebate for 10 years.
Also Monday council will decide on applications for municipal tax breaks to create more rental units under a separate CIP program focused on the Downtown District.
If approved the owners would be shielded from the municipal portions of any tax increase on their buildings for 10 years.
There are two applications for the downtown, one for 261 Front Street (former Pinnacle Music Studio) that would see four units constructed and the other for a building at 307 Front Street, near the Empire Theatre, for three apartments.
