The results of the 2019 Millbrook Community Improvement Plan (MCIP) were reviewed at the October 5th Council meeting.
It was established to stimulate investments in businesses within the downtown Millbrook business area through incentives to subsidize investment in Façade and Signage improvement, Building and Site Improvement and Sidewalk Cafes.
The objective of the incentive plan was to stimulate private investments that would support the revitalization of Downtown Millbrook. Community improvement benefits include beautification and restoration of buildings, redevelopment and re-use projects, diversification and new uses for existing buildings, and connection and integration of businesses in the area.
Economic Development Coordinator Brigid Ayotte explained that the 2019 MCIP was fully subscribed and all fifteen projects were scheduled for completion in October of 2020. Of the $60,000 invested by the township, $25,700 was directed to three projects that were classified as Building and Site Improvements, another $30,800 was invested in five Façade and Sign improvements projects and another $3,500 was directed to an investment in a sidewalk café one. The total private investment stimulated by this funding was about $425,000 representing a $7 private investment for every $1 of public funding.
The 2020 MCIP was launched in late October, delayed due to Covid restrictions. Landowners and tenants of commercial, industrial and mixed-use residential/commercial buildings within the designated area are welcome to apply for financial incentives under this year’s program which includes the same categories as the 2019 program with a total budget of $25,000. Applications will be received until December 4, 2020. Forms are available on the Township website at https://www.cavanmonaghan.net/community-improvement.
The following year, Council intends to broaden the program to include businesses across the township in 2022, with the possibility of rotating the program eligibility to businesses outside of the Millbrook area every other year. KG