UPDATE JUNE 28, 2018 - The Imagination, Manufacturing, Innovation and Technology (IMIT) Program was amended by Toronto City Council in April 2018. The changes to the program included eliminating IMIT eligibility from properties in the expanded TOcore Financial District and requiring buildings to meet Tier 2 of the Toronto Green Standard, amongst other criteria.
However, to give effect to these changes Council must pass a new Community Improvement Plan (CIP) By-law. The process and timetable for this process is expected to be as follows:
Staff have indicated that they will continue to process IMIT applications under the old rules until the new CIP by-law comes into effect. Pending Council’s approval and assuming no appeals, this could be as early as August 14, 2018.
We recommend that anyone with projects eligible for IMIT grants under the old rules communicate with the City immediately about your potential application. There may still be time for an application.