Status unavailable
Tax Increment Equivalent (TIEG) Program
Offsets property tax increases for major projects
Record updated
- Funding available
- Up to 100% of project cost
- Deadline
- Unspecified
- Location
- Centre Wellington, Ontario, Canada
- Who can apply
- See full eligibility
Overview
The Tax Increment Equivalent (TIEG) Program supports substantial rehabilitation, redevelopment, development, infill, and intensification projects in the Township by reducing the property tax increase tied to completed work. It applies to projects such as multiple residential units, new commercial or industrial space, major building upgrades, and other substantial developments.
At a glance
Funding available
- Maximum share of project costs
- 100%
- Renovate or expand facilities
- Renovate or adapt facilities
Eligible candidates
- Location
- Centre Wellington
- Ontario
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- All groups
- Legal structures
- For-profit business
Receipt of requests is now closed
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Availability timeline
2026
Periods: 1
Activities funded
- Substantial rehabilitation.
- Redevelopment, development, infill, and intensification projects.
- Construction of multiple rental residential units and/or multiple affordable rental residential units.
- Construction of a significant amount of new commercial, industrial, or value added agricultural/ agribusiness space.
- Major rehabilitation/upgrading and/or expansion of an existing building.
Processing and Agreement
- The approved applicant must first construct and complete the approved project.
- The Township then pays the grant annually once the eligible project is completed in accordance with the grant application and the other listed conditions are met.
- The Township may allow an Applicant with an approved TIEG to assign the Grant to an assignee as the result of the sale or other transfer of the property.
- The approved TIEG will cease immediately upon any subsequent sale or other transfer of the property.
Additional information
- The Township may establish a maximum total grant that can be paid under this program per application/property/project.
- The approved TIEG will be paid annually for up to 5 years after project completion.
- Pre-project Municipal taxes are determined before commencement of the project at the time the application is approved.
- The tax increment does not include any increase or decrease in municipal taxes due to a general tax increase or decrease, or a change in assessment for any other reason.
Contacts
Official sources
Frequently Asked Questions about the Tax Increment Equivalent (TIEG) Program Program
What is the Tax Increment Equivalent (TIEG) Program?
The Tax Increment Equivalent (TIEG) Program supports substantial rehabilitation, redevelopment, development, infill, and intensification projects in the Township by reducing the property tax increase tied to completed work. It applies to projects such as multiple residential units, new commercial or industrial space, major building upgrades, and other substantial developments.
How much funding can be received?
Tax Increment Equivalent (TIEG) Program Funds up to 100% of admissible expenses.
Who is eligible for the Tax Increment Equivalent (TIEG) Program program?
To be eligible for the Tax Increment Equivalent (TIEG) Program program, you must:
Both the proposed and “as built” project must achieve a minimum score under the TIEG Program Evaluation Framework.
The project must be considered a “substantial project” by the Township.
Who can I contact for more information about the Tax Increment Equivalent (TIEG) Program?
You can contact Township of Centre Wellington or by phone at 519.846.9691 x304.
Where is the Tax Increment Equivalent (TIEG) Program available?
The Tax Increment Equivalent (TIEG) Program program is available the province of Ontario.
Is the Tax Increment Equivalent (TIEG) Program a grant, loan, or tax credit?
Tax Increment Equivalent (TIEG) Program is a Grant and Funding
Who are the financial supporters of the Tax Increment Equivalent (TIEG) Program?
Tax Increment Equivalent (TIEG) Program is funded by Township of Centre Wellington