Barrington revitalization fund running low
Posted Sep 27, 2011 05:26:35 AM.
This article is more than 5 years old.
A fund earmarked for upgrading buildings on Barrington Street is proving to be popular amoung the business community – so popular, more than two thirds of its budget has been spent.
About $3 million was set aside for the grants and tax credits when the fund launched in 2009.
With only $1 million left in the bank, three properties are applying for funding.
Council is expected to vote on the three business applications during its weekly meeting tonight and discuss increasing the budget in coming years.
Coun. Dawn Sloane (Halifax Downtown) says she’s calling on her colleagues to approve the funding.
“I’m hoping that council will approve that next year we need to not only have the funds, but increase them a little,” she said. “We do have a large inventory of heritage buildings on Barrington Street.”
Sloane says the dwindling funds in the existing program shows that it’s working.
“We’ve seen that it is a success,” Sloane told News 95.7. “We’ve seen businesses that have used the money to their potential. We’ve seen new business opening up on Barrington, which is fantastic.”
The program provides grants and tax credits for exterior restoration of heritage buildings. Thirteen applications have been made since 2009.
