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Economic Development Services - Business Development and Retention

Economic Development Services - Business Development and Retention. Presentation to CCIM. Presentation Overview. Investments, Employment & Taxes New Official Plan New Zoning By-Law New Development Guideline New Signature Sites New Tax Grant Program No Development Charges

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Economic Development Services - Business Development and Retention

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  1. Economic Development Services - Business Development and Retention Presentation to CCIM

  2. Presentation Overview • Investments, Employment & Taxes • New Official Plan • New Zoning By-Law • New Development Guideline • New Signature Sites • New Tax Grant Program • No Development Charges • No Parkland Dedication Fees

  3. Key Investments in West Toronto

  4. City of Toronto Employment 1996-2001 Source: City of Toronto Employment Survey

  5. Tax Rates Going Down Taxes on Industrial Properties are down. . . 25% in the past 5 years!

  6. New Official Plan • New Official Plan • Passed by Council in Nov. 2002 • Not yet in effect • 163 Appeals to OMB • Urban Structure Map • Land Use Map

  7. New Official Plan – Urban Structure

  8. New Official Plan – Land Use Plan

  9. New Zoning By-Law • Consolidation of 41 zoning by-laws into 1 for the City • 4 phase development over 4 years • Over 1,500 definitions • Hundreds of zoning provisions • Consolidated parking, setback and other standards

  10. A New Development Guide

  11. New Development Guideline • A Guidebook on the development process in the City • Types of applications • Application requirements • Other requirements

  12. Signature Site Map W-12

  13. Signature Site W-12 • Location: 260 Eighth St • Closest Major Intersection: Islington Ave & New Toronto St • Side of Street: w/s City Ward: 6 • Assessment Roll Number: 1919052490034000000 • Available Site Area (Acres): 38.80 Total Site Area (Acres): 38.80 • Frontage (ft.): 1164 • Official Plan*: Employment Area Zoning*: I.C2 • Owner’s Represtative: Jeff Steiner Telephone: # 416-214-4641 Email:jsteiner@tedco.ca • Owner’s Represtative: Brian Athey Telephone: # 416-981-2896 Email:bathey@tedco.ca • Company: TEDCO • Comments: Great opportunity for employment uses. Large vacant site in South Etobicoke. Excellent labour force availability with premium access to Gardiner/QEW and all major road corridors in the GTA. A benefit of this site is a Financial Incentive Program offered by the City of Toronto. Contact Judy Dunstan at 416-981-2884 for more information. • Economic Development Division Contact: Judy Dunstan Telephone # 416-981-2884 • Email:jdunstan@toronto.ca • *Note: Official Plan and Zoning excludes numbered policies and exceptions and is for general information only.

  14. New Toronto TIFF Area

  15. New Tax Grant Program • Pilot Project in New Toronto area of South Etobicoke • Tax Increment Financing • Occurs over 10 – 12 years • Rebates 100% of new municipal tax in first year and rebate declines 10% per year until 10 year • Brownfield Remediation could add 2 additional years of 100% rebate

  16. Tax Increment Financing Grants

  17. No Development Charges • No municipal development charges • No regional development charges • No TDSB development charges • Minor Catholic School Boards charges of 23c

  18. No Parkland Dedications Fees • No Parkland Dedication Fees for non-residential development

  19. What you should know • Our key selling points • TTC • High labour quality and availability • Taxes are coming down • NO City Development Charges • NO Park contribution on non-residential • Wide selection of vacant and improved properties

  20. Connecting with You • Talk to Toronto West EcDev Office - we have knowledge and information that can help you • Get us involved early in your project • We keep confidential matters confidential • No charge for our services!

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