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ONTARIO GOVERNMENT ANNOUNCES FUNDING FOR MAIN STREET REVITALIZATION

ONTARIO GOVERNMENT ANNOUNCES FUNDING FOR MAIN STREET REVITALIZATION

 

On January 23rd the Ontario government announced funding for Ontario communities for main street revitalization projects, through the Main Street Revitalization Initiative. Contact PSD for a full briefing on the initiative and funding allocation information. 

Vibrant main streets help attract visitors, create jobs and increase the competitiveness of small businesses, which are the backbone of small, rural communities. That's why the province is helping municipalities enhance and revitalize their downtown and main streets through improvements such as the installation of pedestrian crosswalks or landscaping. Municipalities can also direct funding to local businesses to improve the appearance of their storefronts by installing lighting or new signage.  

 

Quick Facts

  • Ontario is investing up to $26 million in the Main Street Revitalization Initiative, which will be administered by the Association of Municipalities of Ontario and its rural arm, the Rural Ontario Municipal Association.
  • This initiative is part of a $40 million investment over three years in the Main Street Enhancement Fund, which will help strengthen small businesses in downtown and main street areas and enhance the digital presence and capabilities of small businesses through increased access to digital tools like e-commerce.
  • The revitalization initiative expands upon and complements the Downtown Revitalization Program that supports main street revitalization in rural areas.
  • Funding will be allocated to municipalities based on population size, using the most recent data from the 2016 Statistics Canada Census of Population.
  • The formula includes an adjustment for those municipalities that have fewer than 25,000 residents. This adjustment ensures that small communities are provided an appropriate level of funding where their population figures would otherwise limit their respective funding allocations within the parameters of the program.

 

 

Sourcehttps://news.ontario.ca/omafra/en/2018/01/ontario-revitalizing-main-stre...