The District of Sparwood has announced the introduction of a revitalization tax incentive program covering areas close to the Sparwood downtown, zoned C1, C2 and C4 to stimulate further investment in the community.

Sparwood is actively promoting diversification of the economic base in order to better serve residents and support the objectives identified in the updated Official Community Plan, due to be finalized during the summer.

“Sparwood is a fantastic location for business and we are currently attracting a large amount of interest from investors. The residents of our community identified the development of downtown area as one of the key priorities within our OCP planning process and this initiative fits into this objective,” said Mayor Lois Halko.

Qualifying projects are for improvements only and include infill developments, demolish and reconstruction projects, facade improvements and new construction. Projects can achieve up to a 100% exemption of the municipal component of their tax bill for up to five years.

Recent visitors to Sparwood will have observed the recent internal renovations to the Greenwood Mall, which are now being followed by improvements to the external aspects of the building as well as the recent addition of local businesses, signaling the increased interest in the community.

Mayor Halko continued, “Business diversification is a key current project for our community and supporting this through strategic financial initiatives such as this Revitalization Program adds to the many other reasons for investors to choose Sparwood.”

Full details of the Revitalization Bylaw can be found at: click here

District of Sparwood

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