Ground floor commercial spaces at risk of vacancy can apply to receive up to $20k towards interior renovations
The City of Toronto has released a new Commercial Rehabilitation Grant Program which will provide cost-matching grants for 50% of the cost of interior renovations up to $20,000 ($40,000 total spend) to help businesses or commercial properties that are at risk of vacancy improve their facilities, and an additional $4,000 towards Accessibility for Ontarians with Disabilities Act (AODA) improvements, for a total maximum grant of $24,000 available for upgrades.
If you are interested in applying for this program and meet the criteria, please contact oliver@waterfrontbia.com, who can assist with the application process.
Ground-floor commercial spaces that are at risk of vacancy and received funding through the Canada Emergency Rent Subsidy (CERS) program can apply to undertake 3+ of the following leasehold improvements:
• Electrical upgrades
• Plumbing upgrades and fixtures
• HVAC upgrades, including kitchen exhaust & ventilation
• Building Structural upgrades
• Interior lighting, light fixtures, security systems
• Fire prevention or suppression improvements
• Improvements to reduce energy or water consumption
• Flooring, coverings and finishing
• Ceiling and wall treatments + customer-facing interior painting
• Permanent improvements that help achieve public health objectives
• Permanently affixed counters, shelving, interior signage, and merchandise displays – visible to the public
• Accessibility improvements that meet AODA design Standards
• Other interior building improvements as agreed do by the general manager of economic development and culture.
Eligibility:
Owners and tenants of commercial properties that are vacant or at risk of vacancy and have received the Canada Emergency Rent Subsidy program (CERS) located at street level that are locally owned and operated. Multi-unit properties are eligible for additional grant funding up to $4,000 per unit for each additional unit for which improvements are proposed, up to a maximum of $20,000.
Proposed renovations must total more than $5,000 and may not include maintenance of existing items such as broken windows or clogged plumbing, or the purchase of removable items, such as movable furniture, window coverings, equipment or appliances. Exterior renovations are ineligible, as there is a separate grant – the Commercial Façade Improvement program, which is expected to come out in February 2022.
The application process is simple:
- Collect two contractor quotes for each of the 3+ eligible interior upgrades you want to complete.
- Complete & submit the application form as indicated, including images explaining the proposed renovations, a letter from the property owner permitting the renovations to be completed, and the above noted contractor quotes.
- If approved for funding, you will enter into a formal agreement with The City of Toronto – Economic Development and Culture Division. Once the interior renovations are completed and accounted for with photos and receipts, the city will provide the grant funding to the applicant.
The first round of applications will be accepted until February 28th 2022 or when funds are expended, whichever comes first. Once the interior renovations are completed and accounted for with photos and receipts, the city will provide the grant funding to the applicant.
City of Toronto Commercial Rehabilitation Grant Website
City of Toronto Commercial Rehabilitation Grant Application Form
