The Next Chapter for Riverview’s Commercial Development Grant

During the August 11th Regular Council Meeting, Council approved the strategic redesign of the Town’s Commercial Development Grant to better support local businesses, attract new investment, and grow the Town’s commercial tax base. 

“These updates will ensure the Commercial Development Grant continues to be a strong driver of business development, while also making it more accessible, transparent, and aligned with Riverview’s values,” said Mayor Andrew J. LeBlanc.  

Key program enhancements recently implemented include: 

• Renewed commercial focus: Only projects with a commercial component are eligible, including mixed-use projects that include, for example, at least 50% of the ground floor space for commercial use.
• Grant stacking: The Commercial Development Grant can now be combined with the Town’s Housing Accelerator Fund (HAF) Affordable and 3-Bedroom Unit Development Grant to create more opportunities for mixed-use projects that blend residential and commercial elements, thus fostering complete and connected communities.
• Targeted sectors of opportunity: A new bonus structure will support high demand, formally studied sectors such as healthcare ($25,000 offered per new primary physician attracted to a health clinic up to a maximum of 5) and overnight accommodations ($15,000 per new hotel operation firm).
• Broader eligibility: The project value threshold has been lowered from $500,000 to $200,000 in projected increase of provincially assessed property value to better accommodate the scale of renovations and expansions undertaken by small and medium-sized enterprises, in response to feedback received from local business owners.
• Improved governance: A review committee will evaluate applications and provide recommendations to Council, who retain ultimate approval authority.
• Stronger safeguards: New legal agreements and compliance measures will protect the interests of both the Town and program participants.
• Budget efficiency: An annual $400,000 program cap, a shortened payment timespan of 5 years, and an adjusted declining payment scale will increase the number of businesses able to participate. 

“Our team has taken a thoughtful approach in redesigning this program,” said Colin Smith, Chief Administrative Officer. “We considered past outcomes, engaged with local business owners, and examined where improvements could be made to better reflect Riverview’s unique needs. The result is a program that not only supports business growth but also reinforces our strategic priorities.” 

The redesigned program is part of Riverview’s broader Community Economic Development Strategy, which prioritizes business growth, resident amenities, and balanced tax contributions from both residential and commercial development. 

“By encouraging new commercial expansions and startups from a broader range of small and medium businesses, we’re creating opportunities for entrepreneurs, enhancing local amenities offered to residents, and strengthening’s Riverview’s position as a great place to live, shop, visit, and invest,” said Shanel Akerley, Economic Development Manager. 

A full relaunch campaign will follow to ensure local business owners, developers, and entrepreneurs are informed of the updated program criteria and the opportunity it represents. 

For more information about the Commercial Development Grant, visit our website or contact the Town’s Economic Development Department at ecdev@townofriverview.ca / 506.387.2141