Community Improvement Plan
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The Town of Essex is committed to working in partnership with the private sector for the economic prosperity of the municipality. That commitment is the basis for our Colchester Community Improvement Plan, which aims to help revitalize this center as one of the social, economic and cultural hearts of our community.
Some of the financial incentives we provide to business and property owners include:
Facade Improvement Grant
Offers financial assistance to property owners who are undertaking commercial building facade improvments and any repairs or rehabilitation to the front or side of their building.
Grant amount is 50 percent of the total cost of the approved works to a maximum grant of $12,000.
Outdoor Cafe & Patio Grant
Offers assistance to property owners who are undertaking the construction of outdoor cafes, patios or other commercial open space.
Grant amount is 50 percent of the total cost of the approved works to a maximum grant of $4,000.
Conversion Grant
Offers assistance to property owners who are creating a bed and breakfast operation or who intend to utilize existing above the ground floor commercial building space to create hotel rooms or suites.
The grant amount for conversion is 50 percent of the total cost to a maximum grant of $5,000 per unit or suite of rooms and $1,000 for a bed and breakfast bedroom or suite of rooms.
Tax Increment Financing Grant
Provides a grant equivalent to the municipality’s annual incremental tax increase from an eligible development project that increases the assessed value of the property.
Grant is equal to 100 percent of the incremental property taxincrease payable to the Town is given for each of the first 5 years.
Find out more about our Community Improvement Plan at the following link:
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