The Property Improvement Fund (PIF) and Regulatory Compliance Fund (RCF) programs use a multi-step review process to ensure projects meet program requirements and provide meaningful community benefit. The typical process is outlined below.
Step 1: Pre-Application Meeting
Prior to applying, all prospective applicants are required to attend a pre-application meeting with the City's Development Services team. This meeting may include representatives from Planning and Zoning, Building Permitting, Fire, Engineering, Utilities, Community & Economic Development, and other relevant City departments. The purpose of the meeting is to review applicable zoning, site planning, permitting, utility, and code requirements; identify potential project challenges early in the process; and help determine the overall feasibility of the proposed project before an application is submitted.
Step 2: Submit Application
Applicant submits a completed PIF-RCF program application (Hyperlink to App) to the Community & Economic Development Department.
Step 3: Staff Review
City staff review the application to ensure it is complete and meets program eligibility requirements.
Step 4: Committee Evaluation
The Due Diligence Committee reviews and scores the project based on the evaluation criteria.
Step 5: City Review and Approval
The Finance & Administration Subcommittee reviews the Due Diligence Committee's recommendation, followed by the City Council who makes the final funding decision.
Step 6: Development Agreement and Issuance of Funding
If approved, the applicant enters into a Development Agreement with the City. Following execution of the agreement, funding is issued in accordance with program requirements, and loan repayment begins approximately one month later.
Step 7: Permits and Construction
The applicant must obtain all permits and approvals identified during the pre-application meeting with the City's Development Services team before beginning work. Construction must start within six (6) months of signing the Development Agreement, and the approved project must be completed within eighteen (18) months, unless an extension is approved by the City.
