On Monday, Council will be asked to approve receiving a grant from the province for $54,843.19 under the “Ontario’s Main street Revitalization Initiative”. The money would be used to help with the Vitalization project for King Street. More details below but the largest amount would be to enhance the CIP project. One option being considered for that would be to direct significant funding to encourage Technology firms to locate in the Downtown core – they would be given an “incentive to lease 1st, 2nd and 3rd story buildings to high tech firms”. Smaller amounts would be provided for cosmetic projects – completion of the Victoria Hall exterior lighting project and extension of the downtown business attraction project ad campaign to include window wrapping and greater advertising.
- Completion of Victoria Hall exterior lighting project (estimated cost $6,000). The idea is to illuminate the exterior with “light washing”. Money ($45,000) has been allocated in the budget but an extra $6,000 is required to “upgrade the power supply to the two light poles in front of Victoria Hall on which the light projection equipment will be mounted.” The photo at right was taken on New Year’s Eve 2007.
- Extension of the Downtown business attraction project ad campaign to include window wrapping and greater advertising (estimated cost $10,000). A window wrap is a large vinyl sign stuck to the outside of windows. It is usually used for advertising the business inside but in this case would be used on vacant stores. Apart from improving the look of vacant stores, it is hoped that it will help with attracting new businesses to these locations. According to the original schedule, we are now at the stage of “implementation”. See link below for more on “Business Attraction Marketing Plan” and details of what’s scheduled to be happening.
- Enhancement of the Community Improvement Program (CIP) (estimated cost $41,000). The Town’s budget for 2018 is $150k and it is already intended that the scope will be broader than 2017. An additional enhancement being considered is to implement the “Infrastructure for Innovation Program” to provide downtown property owners an incentive to lease 1st, 2nd and 3rd story buildings to high tech firms with the purpose of creating a sustainable high tech business hub in the Downtown.”: A onetime grant of $75,000 would be provided – $37,500 when improvements are made and an additional $37,500 upon successful recruitment of a high tech tenant (“High tech” as approved by CFDC). This program has not yet been approved by Council – or anybody else!
- CIP Program expands scope for 2018 – 20 April 2018
- Downtown Vitalization update – April 2018 – 29 March 2018
- Province Provides grant to Cobourg for Downtown – 14 March 2018
- Business Attraction Marketing Plan – 11 November 2017
- Vitalization Update – 23 Oct 2017