Cobourg
14°C
May 18, 2024

Help For Homeowners & Business Owners

Open House Thursday, July 6th 5pm – 7pm Venture13 Innovation and Entrepreneurship Centre – 739 D’Arcy Street

The Town of Cobourg Planning and Development Division has announced that the Town is now accepting applications from residents and business owners for the 2023 Community Improvement Plan.

A Community Improvement Plan (CIP) is a planning and economic development tool to facilitate community development and revitalization goals through a series of financial incentives, including grants and loans available to private property owners and local businesses.

For the 2023 intake year, Cobourg Municipal Council has set aside funding for the Affordable and Rental Housing CIP and the Downtown Vitalization CIP.

Affordable and Rental Housing CIP

The Affordable and Rental Housing CIP provides a comprehensive tool kit of financial incentive programs specifically designed to help stimulate the development and availability of affordable and rental housing in the community. To address Cobourg’s housing shortage, a priority has been set to increase the supply of purpose-built rental housing and smaller second units such as accessory dwellings or coach houses. Additionally, the Affordable and Rental Housing CIP supports mixed-income developments, emergency and transitional housing and affordable homeownership.

The introduction of additional secondary units in the Town of Cobourg addresses the need for more housing options in our community while making homeownership more affordable for current homeowners. Additional rental units, such as basement apartments, attics, or coach houses, create much needed attainable rental housing, while helping to offset the expense of a mortgage payment for the homeowner. This supports first-time homeowners struggling to enter the market, as well as current homeowners who wish to age in place.

Downtown Vitalization CIP

The Downtown Vitalization CIP provides a comprehensive tool kit of financial incentive programs specifically designed to address the community improvement needs in Downtown Cobourg and, over time, to achieve the vision for Downtown Cobourg as outlined in the Downtown Vitalization Action Plan and the Downtown Master Plan.

The intent of the Downtown Vitalization CIP is to incentivize and support business and property owners who would benefit from the financial support to take on projects that include the reuse and restoration of vacant and underutilized buildings, transforming and improving the appearance of building facades and storefronts, and increasing the supply of housing units downtown. These positive changes help realize the vision for Cobourg’s downtown as expressed in the Downtown Vitalization Action Plan and the Downtown Master Plan, ultimately achieving the full potential of downtown.

The Downtown Vitalization CIP includes eight incentive programs to encourage investment, rehabilitation projects, and new construction in downtown Cobourg.

Timelines

The 2023 intake for the Town of Cobourg Community Improvement Plan is available from June 15 to August 1, 2023. All those interested in learning more about the program can visit www.Cobourg.ca/cip or call the Planning Department at 905-372-1005.

Attend the 2023 CIP Open House Thursday, July 6th 5pm – 7pm Venture13 Innovation and Entrepreneurship Centre – 739 D’Arcy Street Drop-in any time to speak with a Municipal Planner.

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