The Township of Lake of Bays announced today that its Community Improvement Plan (CIP) private sector incentive program is now open for applications.
This program is aimed at encouraging reinvestment in privately owned properties located in the CIP project areas, which are the Township’s four settlement areas (Baysville, Dorset, Dwight, and Hillside), especially where it will enhance the public realm and make a positive contribution to overall vitality.
In recognition of the important and unique role the communities play in the Township’s economic and social development, Lake of Bays Council approved a CIP with the focus of attracting tourism, business investment, and economic development and assisting in providing attainable/affordable housing.
The Community Improvement Plan offers two main financial incentives:
- Project Grants: The Township may provide grants of up to 50% of eligible costs, with some programs offering up to $5,000.
- Loans: Depending on the specific program, the Township may provide loans of up to $10,000.
These incentives support various initiatives, including the expansion and diversification of existing businesses, beautification and visual appeal projects, housing development, and new tourism and business activities.
To apply for the program, applicants must review the program’s details, book a pre-consultation with staff, collect supporting documentation such as plans, photos, and quotes, and complete the online form. To learn more about the private sector incentive program and how to apply, visit lakeofbays.on.ca/CIP.
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