Economic Development Services - Business Development and Retention Presentation to CCIM.

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Presentation transcript:

Economic Development Services - Business Development and Retention Presentation to CCIM

Presentation Overview Investments, Employment & Taxes New Official Plan New Zoning By-Law New Development Guideline New Signature Sites New Tax Grant Program No Development Charges No Parkland Dedication Fees

Key Investments in West Toronto INVESTMENTSQ. FT.$ MIL Global Teknion Furniture1,100,000 York University345, Intercontinental Warehousing300,00018 IKEA270,00030 TorPharm Pharmaceuticals250, A. Mantella Warehouse250,00010 Marriott Hotels210, Molson Breweries150,00049 Sandman Hotels138,00012 Give & Go Prepared Foods113,00014

City of Toronto Employment Source: City of Toronto Employment Survey

25% in the past 5 years! Tax Rates Going Down Taxes on Industrial Properties are down...

New Official Plan Passed by Council in Nov Not yet in effect 163 Appeals to OMB Urban Structure Map Land Use Map

New Official Plan – Urban Structure

New Official Plan – Land Use Plan

New Zoning By-Law Consolidation of 41 zoning by-laws into 1 for the City 4 phase development over 4 years Over 1,500 definitions Hundreds of zoning provisions Consolidated parking, setback and other standards

A New Development Guide

New Development Guideline A Guidebook on the development process in the City Types of applications Application requirements Other requirements

Signature Site Map W-12

Signature Site W-12 Location: 260 Eighth St Closest Major Intersection: Islington Ave & New Toronto St Side of Street: w/sCity Ward: 6 Assessment Roll Number: Available Site Area (Acres): 38.80Total Site Area (Acres): Frontage (ft.): 1164 Official Plan*: Employment AreaZoning*: I.C2 Owner’s Represtative: Jeff SteinerTelephone: # Owner’s Represtative: Brian AtheyTelephone: # Company: TEDCO Comments: Great opportunity for employment uses. Large vacant site in South Etobicoke. Excellent labour force availability with premium access to Gardiner/QEW and all major road corridors in the GTA. A benefit of this site is a Financial Incentive Program offered by the City of Toronto. Contact Judy Dunstan at for more information. Economic Development Division Contact: Judy DunstanTelephone # *Note: Official Plan and Zoning excludes numbered policies and exceptions and is for general information only.

New Toronto TIFF Area

New Tax Grant Program Pilot Project in New Toronto area of South Etobicoke Tax Increment Financing Occurs over 10 – 12 years Rebates 100% of new municipal tax in first year and rebate declines 10% per year until 10 year Brownfield Remediation could add 2 additional years of 100% rebate

Tax Increment Financing Grants

No Development Charges No municipal development charges No regional development charges No TDSB development charges Minor Catholic School Boards charges of 23c

No Parkland Dedications Fees No Parkland Dedication Fees for non-residential development

What you should know Our key selling points –TTC –High labour quality and availability –Taxes are coming down –NO City Development Charges –NO Park contribution on non-residential –Wide selection of vacant and improved properties

Connecting with You Talk to Toronto West EcDev Office - we have knowledge and information that can help you Get us involved early in your project We keep confidential matters confidential No charge for our services!