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"Summitt Energy took advantage of financing provided by Morrison Financial during the early stage, rapid growth phase of our business."

Gerry Haggarty
President, Summitt Energy

Tax Increment Grant Financing

(Brownfield financing)

Brownfields are lands that may have been contaminated from past use and are currently abandoned or underutilized. To encourage site clean-up, redevelopment and revitalization, the government of Ontario created a regulatory framework to allow for municipalities to promote brownfield redevelopment by owner/developers.

After properties are remediated and improved, their taxes are reassessed. In certain cases, municipalities provide the tax increment as a grant. This grant money may be paid for a number of years, up to an aggregate amount not more than the eligible cost of the clean-up. In these situations, Morrison Financial is able to accelerate this obligation in a lump sum payment to the developer/owner. This provides a very cost-effective way for the grant beneficiary to monetize on the municipal obligation and move on to the next project.

Please contact a Morrison Financial representative directly to discuss your specific needs.