Norfolk County has approved Johanco Inc. (Travelodge) for Incentives in the Community Improvement Plan (CIP).
Johanco Inc. will receive an interest free loan of up to $7,500 and a grant of up to $9,500 for improvements to the building located at 385 Queensway West in Simcoe. Improvements include removal of old cedar shake and brick exterior, replacement with new stone/stucco finish, landscaping and signage improvements.
Incentives are available for architectural and design, environmental site assessment, structural improvements, building facades, agricultural building and facilities, residential conversions and rehabilitation, landscaping, signage and property improvement. Property tax increment grants are also available for larger projects.
Non-residential projects are eligible for incentives. Depending on the program, programs apply to properties in urban, hamlet, lakeshore and agricultural areas.
Community Improvement Plans help municipalities target areas in transition or in need of repair, rehabilitation and redevelopment, and stimulate private sector investment through municipal incentive-based programs.