Quote:
Originally Posted by mattgrande
I believe those are per-building prices. If they are (and I believe there are four buildings), then that amounts to $4.4 million.
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It's the net amount. From the heritage grant brief, details on the conditional pre-approval:
RECOMMENDATION
(a)That a grant commitment to an upset limit of $850,000 be approved under the Hamilton Heritage Property Improvement Grant Program for Hughson Business Space Corporation (Marvin Barnett, David Blanchard, Ronald Quinn, William Rogan) owner of 18, 20, 22, 24 and 28 King Street East, conditional upon all terms and conditions of the Program being met and subject to complete program applications being submitted no later than December 31, 2014;
(b) That a grant commitment to an upset limit of $250,000 be approved under the GORE Building Improvement Grant Program for Hughson Business Space Corporation (Marvin Barnett, David Blanchard, Ronald Quinn, William Rogan) owner of 18, 20, 22, 24 and 28 King Street East, conditional upon all terms and conditions of the program being met.
And details on the Hamilton Heritage Property Grant Program:
The Program offers a grant for structural/stability work required to conserve and restore heritage features of properties and, the conservation and restoration of heritage features of properties that are designated under Parts IV or V of the Ontario Heritage Act. For projects valued at $40,000 or less, the grant is based on 50% of the total project cost to a maximum grant of $20,000 for eligible work under the Program. For projects valued over $40,000, the grant includes $20,000 (i.e. 50% of $40,000), plus an additional grant based on 25% of the total project cost over $40,000, to a maximum additional grant of $130,000. In total, no more than $150,000 will be granted for eligible work under the Program. The Program also offers an additional $20,000 grant for heritage related reports/assessments/studies.
Still, they didn't even apply for the grants.
Saving Gore façades eclipses $1m grants: owner
(Hamilton Spectator, Matthew Van Dongen, Nov 29 2013)
The co-owner of five Gore Park properties facing demolition says $1 million in heritage grants would still only cover half the cost of salvaging the historic building façades.
Councillors will be asked next week to approve up to $1.1 million for the owners of 18-28 King St. E. if they agree to preserve enough of the buildings — particularly the historic storefronts — to qualify for a heritage designation.
It's a "unique" recommendation, considering the building owners haven't officially applied for the heritage cash or committed to saving the buildings, acknowledged urban renewal manager Glen Norton.
"It's like a conditional approval …. We don't normally do it, but I think we'd consider it for significant projects and buildings," said Norton, noting the increasingly loud public protest over the looming demolition of the properties.
"We're having productive discussions with the owners and this is a way to give them some certainty — if you do your part, the funds are there."
Buildings co-owner David Blanchard said he's "exploring the opportunities" associated with the grants, which would require provincial designation to access the full amount.
But he added it will cost at least $2 million to preserve the front of each of the five buildings. Removing historic façade elements and adding them to a new building would cost less, but likely would not qualify for heritage designation.
"If we preserve the façades, we would like it to be revenue neutral," Blanchard said. "If we spend an extra million dollars on that alone, I don't see how we'd ever get it back."
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"Where architectural imagination is absent, the case is hopeless." - Louis Sullivan
Last edited by thistleclub; Nov 30, 2013 at 1:28 PM.
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