Home » Downtown revitalization projects to get extensions

Posted: October 29, 2020

Downtown revitalization projects to get extensions

The City of Cranbrook is changing a bylaw to provide downtown business/property owners with more time to complete revitalization work.

Council Monday gave three readings Downtown Revitalization Amendment Bylaw No. 4023, 2020, to change the program end date from October 31, 2020 to October 31, 2021 and to update staff and department references.

The city adopted the bylaw in 2012, including a “sunset” date of October 31, 2020 for when applications and confirmation of project completion must be received.

“Staff has received an application for a Revitalization Tax Exemption for a new project under construction in downtown (former Andres building). However, due to a number of extenuating circumstances, particularly Covid, the project will not be completed per the date in the bylaw making them unable to meet the qualification to participate in the program,” outlined a report to council by Rob Veg of Development Services.

“Given the circumstances this year with respect to Covid and recognizing there are potentially multiple projects that may wish to take part in the tax exemption program,” staff is proposing an amendment to (the bylaw) to change the program end date to October 31, 2021.

“The new date will allow projects currently under construction to take part in the program when construction is complete later this year or in 2021. In addition to the date change, the proposed amendment will replace references to the Corporate Services Director and Department with Engineering and Development Services to reflect the current names and titles,” Veg said.

“Planning staff, with support of Finance and Business Development staff, feel the program extension date is a good opportunity to show support for projects which may have been impacted by the circumstances of this year and may potentially encourage additional projects in downtown as part of the city’s economic recovery.”

Final reading is expected at the next council meeting (Nov. 9).

e-KNOW


Article Share
Author: