Belleville City Council approved the Employment Lands Community Improvement Plan at its meeting on Monday.
According to a report from the city’s Manager of Economic Development Elisha Maguire, the plan provides framework that the city hopes will stimulate investment from the private sector in designated industrial areas.
They it will be done through a series of financial incentive programs.
The programs are broken down as follows:
- Tax Increment Equivalent Rebate (TIER) – Provides a rebate equivalent to the municipal portion of the incremental property tax increase assessed under industrial tax classes resulting from development over a five-year period.
- DC Rebate – Offers a partial rebate of municipal DC to reduce upfront development costs.
- DC Deferral Interest Rebate – Supports applicants by reimbursing all or a portion of interest costs charged on DCs that are permitted to be deferred for up to 18 months.
- Planning Fees and Building Permit Rebate – Provides reimbursement for certain municipal planning and building permit fees associated with eligible development projects.
- Employment Lands Landscape Improvement Rebate – Provides a rebate for up to 50% of eligible landscaping and site improvement costs to enhance industrial property appearance and functionality.
As part of the recommendation, council also approved having all programs outlined in the plan be activated for the duration of the
plan period as well as for the 2026 Operating Budget be amended to include $355,000 of Employment Lands CIP rebates, funded by the Casino Economic Development and CIP Reserve Funds.
