The Region of Waterloo’s Brownfield Financial Incentive Program consists of four components:

• Phase II Environmental Site Assessment Grants
• Regional Development Charge Exemption for Brownfields
• Joint Tax Increment Grant Program (joint with participating Municipalities)
• Joint Tax Increment Grant Program Implementation Grant (for Area Municipalities looking to implement the TIG Program)

These program components provide financial assistance at various periods throughout the remediation and redevelopment of a brownfield site. The goal of the program is to encourage the rehabilitation and redevelopment of brownfield sites, to promote reurbanization and to reduce the outward movement of the urban area in support of the Regional Growth Management Strategy (RGMS).

Each component of the BFIP can be used by a single site (where available and applicable) which can significantly impact a land owner’s ability to proceed with a brownfield redevelopment.  A Phase II ESA grant provides a grant which may allow a land owner or potential land owner to further investigate the potential site contamination where previously the unknown condition may have been a deterrent. A barrier is significantly reduced increasing the potential of many sites which may otherwise have been passed over for fear of the unknown.

 The TIG program allows a land owner to apply based on the Phase II ESA findings and remediation work plan provided by a Qualified Professional. In other words, before any remediation work is done a land owner/remediator could be approved for TIG. Finally the RDC Exemption program allows  cost of remediation that is not covered by the TIG program, to be captured at the development stage.   The BFIP builds on the examples set by many other communities in Ontario. It is unique in the way it seeks to foster coordination and cooperation between the Area Municipalities and the Region. Furthermore, the program provides an opportunity for a joint marketing effort by all parties involved to increase the awareness of brownfield remediation and redevelopment opportunities.