Closed
Tax Increment Equivalent Grant Program
Tax rebate for qualifying redevelopment projects
Last Update: April 29, 2026
Funding available
Up to 75% of project cost
Timeline
- Receipt of requests is now closed
Location
Bancroft, Ontario, Canada
Overview
The Town of Bancroft offers a tax rebate incentive for redevelopment projects that meet the program conditions. Eligible development may receive a rebate of 75% of the municipal tax increase for 5 years, subject to the property's location and type of project.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase production or service capacity
- Renovate or expand facilities
- Ensure financial sustainability
Eligible Funding
- Up to 75% of project cost
Timeline
- Receipt of requests is now closed
Eligible candidates
Eligible Industries
- Construction
- Real estate and rental and leasing
Location
- Bancroft
- Ontario
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Construction of one or more new residential units.
- Non-residential development with at least 200 sq. metres of new floor area or a 50% increase in existing floor area.
- Development that creates a new connection to the municipal water and/or wastewater system.
Official resources
Eligibility
Who is eligible?
- Residential developers.
- Non-residential developers.
- Property owners investing in redevelopment in Bancroft.
Who is not eligible
- Developments outside Part A or B of the Community Improvement Project Area.
- Projects that do not meet the stated development thresholds.
Eligible geographic areas
- Part A and Part B of the Community Improvement Project Area in Bancroft, Ontario.
Selection criteria
- Location within the designated Community Improvement Project Area.
- Type and scale of development.
- Contribution to the Town’s tax base.
How to apply
- Step 1: Discuss your plans with Town staff
- Contact Town staff before proceeding with the project.
- Confirm whether the proposed development may qualify under the program.
- Step 2: Prepare your application
- Ensure the development meets the stated program conditions.
- Prepare to apply subject to the conditions of the program.
- Step 3: Submit the application
- Apply under the Town’s incentive program.
- Proceed according to the Town’s instructions for the application process.
Additional information
- Applications are subject to the Town of Bancroft’s approved Community Improvement Plan.
- Developments with a building permit issued after January 1, 2019 may apply.
- The program is time-limited and was active until December 31, 2023.
Contacts
Frequently Asked Questions about the Tax Increment Equivalent Grant Program Program
What is the Tax Increment Equivalent Grant Program?
The Town of Bancroft offers a tax rebate incentive for redevelopment projects that meet the program conditions. Eligible development may receive a rebate of 75% of the municipal tax increase for 5 years, subject to the property's location and type of project.
How much funding can be received?
Tax Increment Equivalent Grant Program Funds up to 75% of admissible expenses.
Who is eligible for the Tax Increment Equivalent Grant Program program?
To be eligible for the Tax Increment Equivalent Grant Program program, you must:
Property must be in Part A or B.
Project must meet development thresholds.
Connection to municipal services required in some cases.
What expenses are eligible under Tax Increment Equivalent Grant Program?
Construction of one or more new residential units.
Non-residential development with at least 200 sq. metres of new floor area or a 50% increase in existing floor area.
Development that creates a new connection to the municipal water and/or wastewater system.
Who can I contact for more information about the Tax Increment Equivalent Grant Program?
You can contact Town of Bancroft by email at rtait@bancroft.ca or by phone at (613) 332-3331 Ext.201.
Where is the Tax Increment Equivalent Grant Program available?
The Tax Increment Equivalent Grant Program program is available the province of Ontario.
Is the Tax Increment Equivalent Grant Program a grant, loan, or tax credit?
Tax Increment Equivalent Grant Program is a Grant and Funding