Orillia will provide some financial assistance to a couple of developers with plans for some run down properties in the downtown area.
Councillor committee has agreed to a quarter million dollar grant for a group of physicians who want to turn the former Goodwill building on King Street into offices for medical specialists.
Another developer will be awarded 200 thousand dollars to build about 50 townhouses on Elgin Street, near the waterfront.
Mayor Steve Clarke says when the derelict properties are developed, the city will get the grant money back in taxes.
Clarke says it will take a few years to get that investment back.
The grants are part of the city's Downtown Tomorrow Community Improvement Plan.