Council approved $271,585.60 in incentives, granted two five years, for the new headquarters of Stryker Canada at 135 Clappison Avenue in Flamborough for meeting the Leadership in Energy and Environmental Design Silver Level.
The planned development is expected to generate $181,464.93 per year in property taxes, and the City is granting 75% of those taxes for two years; the City will continue to receive the increase in property tax, compared to when the land was vacant, in the future. The grant is to encourage better design which decreases costs on municipal services.
During the debate to approve the debate, Matthew Green discussed finding ways to encourage permeable surfaces for parking lots, and residential parking pads.
Staff are not aware of any grants for residential permeable parking, and stated their look into what provincial and federal grants may exist to encourage more permeable parking surfaces.