Media Advisory: 2018 Business Improvement Program (BIP) is Launched

City of Corner Brook
Media Advisory

Supported by Council, the City of Corner Brook has launched the Business Improvement Program (BIP) for 2018.

The BIP is an initiative aimed at improving the frontal appearance and/or landscaping of commercial properties in the City, while maintaining their traditional character and appeal.

A total of $50,000 in property tax credit is available. Applicants need to include at least three of the eligible improvements listed on the application form. The tax credit is substantial: up to 50% of project value, to a maximum of $10,000 tax credit. Applications will be evaluated on design, property visibility, application quality, and overall property improvement potential and impact.

The program goal is to provide incentive to property owners through a tax credit to conduct building improvements that provides Corner Brook with a more interesting and appealing environment, and attract people and businesses to the area. The results of the BIP program will help build civic pride, improve our City aesthetically and make Corner Brook a more remarkable place to live, work, and shop.

“The property improvements undertaken last year under this program have proven how valuable this grant program is, and we look forward to receiving this year’s applications. It is making a big difference to the look and feel of our City,” said Manas Mukhopadhyay, the City of Corner Brook Business Facilitator.

The City of Corner Brook is committed to a comprehensive approach towards supporting local businesses and enhancing the appearance and character of buildings. As an essential part of this commitment we are supporting an incentive program created to encourage commercial property owners and businesses to improve the appearance of their buildings and storefronts.

Applications will be considered and approved on a first qualifying basis, until the entire $50,000 tax credit has been committed. The Program will conclude on December 15, 2018.

Accessing the Business Improvement Program 2018 (BIP)

A property can be considered only once under BIP. The Business Improvement Program (BIP) for 2018 application and guidelines are now available:

  • on the City’s website at: http://www.cornerbrook.com/investing-incentives/
  • by contacting the Business Facilitator Manas Mukhopadhyay by phone 709-637-1551
  • by e-mail: bip@cornerbrook.com

 

MEDIA CONTACT:  Bonita Decaire
Information Officer
City of Corner Brook
709-637-1662 | bdecaire@cornerbrook.com

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City staff will be available for consultation on proposed design prior to submission

History

In 2017, the Business Improvement Program generated significant interest and several applications were received. After a comprehensive evaluation, six applications were approved.  In 2017 the following companies qualified for a tax credit under the program:

Property Address Applicant Tax Credit Approved
89 West Valley Road Brother’s Law $10,000.00
Caribou Road HM Audio $8,166.00
45 Main Street Starling Bar $5,000.00
100 Broadway Trophy Shop $5,977.07
70 West Street Louis Gee’s $10,000.00
50 Main Street Fairway Holdings $10,000.00
Total $49,143.07

March 20, 2018: For Immediate Release 4:50 pm