A number of amended housing incentives have been adopted by North Battleford city council.
The new incentives cover residential housing, rental development and inner city residential development and were recommended by administration after an executive committee meeting in December. The new incentives were presented by Director of Business Development Denis Lavertu at a Jan. 10 council meeting and were adopted unanimously.
Among the terms are:
For new residential construction begun in 2011 and completed within 12 months, a property tax exemption will be provided on the calculation of two years starting from Jan. 1 of the next calendar year. Any land tax currently levied will be payable until Jan. 1 of the next calendar year when the incentive is in effect.
For new, multi-unit, rental housing construction commenced in 2011 and completed within 12 months that remain rental units for five years, a property tax exemption on improvements for five years will be provided . As well, there will be a grant of $1,000 per eligible unit per year for five years for new construction and is limited to a total grant pool of $60,000 annually. That is a change from $20,000 that was the case before, and would allow up to 60 units to be developed.
There is an inner city residential development incentive to encourage housing development on vacant residential lots, or redevelopment of residential lots in the inner city program areas. A three-year 100 per cent property tax exemption on improvements is available for developments commenced in 2011 and completed within 12 months starting from Jan.1 of the next calendar year in the areas of College Heights, the east, downtown and Riverview. Also available is a five-year 100 per cent property tax exemption that included demolition of an existing building prior to new construction, and any land tax levied will be payable until Jan. 1 of the next calendar year when the incentive is in effect.
One important change for all the incentives offered is that application forms are to be submitted with the building permit prior to construction. Those seeking more details on what incentives are being offered and the criteria involved can contact City Hall.
