City of Barrie Tax Increment Equivalent Grant Program
A tax increment equivalent grant supports eligible affordable housing projects in Barrie by rebating municipal tax increases created by development.
About this program
The City of Barrie Tax Increment Equivalent Grant Program is part of Barrie's Housing Community Improvement Plan and supports eligible affordable housing development by returning a portion of the municipal property tax increase generated by an approved project. The program is intended to improve project feasibility for developments that add affordable rental or ownership housing in Barrie.
Eligibility
Eligible applicants are property owners or developers with qualifying affordable housing projects in Barrie that meet the City's Housing Community Improvement Plan requirements and generate an increase in municipal property assessment.
Requirements
- Project must be located in Barrie and meet Housing Community Improvement Plan eligibility requirements.
- Project must create eligible affordable housing units.
- Applicant must apply and receive City approval before claiming the incentive.