REQUEST FOR DECISION
DATE: September 28, 2021 Report No. FIN-21-015
TO: Laurie Hurst, Chief Administrative Officer
FROM: Ian Irvine, Director of Financial Services
SUBJECT:
Title
Revitalization Tax Exemption - 501, 503 & 505 Park Place and 1216 Carlisle Avenue
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RECOMMENDATION:
Recommendation
That Council approve the application for a revitalization tax exemption for properties located at 501, 503 and 505 Park Place and 1216 Carlisle Avenue and authorize the Director of Financial Services and the Corporate Officer to execute the agreement attached to Staff Report FIN-21-015.
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RELEVANT POLICY:
Revitalization Tax Exemption Bylaw, 2015, No.2852
Community Charter S.226
STRATEGIC RELEVANCE:
Support revitalization and beautification initiatives along Esquimalt Road.
BACKGROUND:
Based on the Economic Development Strategy and further work by the Economic Development Select Committee, Revitalization Tax Exemption Bylaw, 2015, No. 2852 was adopted. This Bylaw was identified as one of the strategies to drive the revitalization of Esquimalt Road through beautification, development and incentive programs. One of the objectives identified at that time was to encourage the construction of new buildings located in the defined revitalization area.
Under the Bylaw, for projects to be considered for an exemption by Council, they must (i) be the subject of a building permit for new construction or an alteration of existing building, (ii) have a permit value of at least $10,000, and (iii) be located within the defined revitalization area on a parcel that is zoned for commercial use or zoned to permit residential use with four or more dwellings at the completion of the project. As well, the application must be accompanied by details of the project, certification that the value of the work exceeds $10,000, and confirmation that there are no outstanding taxes, charges or fees associated with the property.
The project identified within this application ...
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