Offices are critical for a successful downtown. The City of Mississauga is proposing a new planning tool which provides incentives to help attract new office development to the Downtown Core. A draft Community Improvement Plan (CIP) will be before Planning and Development Committee at which time public input will be sought on the following four new incentive programs:
- Tax Increment Equivalent Grant (TIEG) – a grant equivalent to a portion of the increase in the municipal property taxes directly attributable to a development or improvement.
- Development Processing Fees Rebate – a rebate on municipal planning fees (e.g. rezoning, site plan application fees).
- Municipally Funded Parking Program – the City may build and own a municipal stand-alone parking facility. Alternatively, the City may co-locate a portion of municipally owned parking within a private office building development.
- Municipal Property Acquisition and Disposition – The City may acquire key properties for redeveloping them for office buildings. The City may also elect to dispose of City-owned lands to attract new office building development.
Members of the public and the business community are invited to attend a public meeting to share their views on the draft Downtown CIP. The CIP report is available online here.
Proposed Downtown Community Improvement Plan
Civic Centre, Council Chamber
300 City Centre Drive
Monday, October 24, 2016
About the City of Mississauga
As Canada’s sixth largest city, Mississauga is home to 764,000 residents and over 86,000 businesses, including 71 Fortune 500 companies with Canadian head offices or major divisional head offices. A diverse, progressive and award-winning municipality located on the shores of Lake Ontario in the heart of the Greater Toronto Area, Mississauga is focussing on delivering the right services, implementing its Strategic Plan, delivering value for money, maintaining infrastructure and continuing to be an employer of choice.