Comment 119670

By Tybalt (registered) | Posted July 05, 2016 at 15:50:56 in reply to Comment 119663

The full preamble of the OTAP program description, since we're going to be all persnickety about what it's supposed to do:

"The Hamilton Downtown Office Tenancy Assistance Program (the “Program”) provides financial assistance to either building owners or tenants for eligible leasehold improvements to office buildings located within the Downtown Hamilton Community Improvement Project Area. The intent of the Program is to facilitate the increased attractiveness and marketability of the Downtown office stock and reduce the Downtown office vacancy rate by attracting new office tenants and owner-occupied office uses from outside the City, and to assist existing Downtown businesses to expand in the Downtown.

"Acting as a lender, the City provides financial support for the Program in the form of a low interest loan. Development arising from the Program must be consistent with the Downtown and Community Renewal Community Improvement Plan and other policies and regulations as may be applicable, such as the Downtown Hamilton Secondary Plan, the Zoning By-law, Urban Design Guidelines, and building permit requirements." (Emphasis mine)

So there are two intents or purposes, it would seem, if we're going to trust the preamble.

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