The Cranbrook Chamber of Commerce, City of Cranbrook and the Downtown Business Association (DBA) gathered for an information luncheon around downtown revitalization on Wednesday, November 19 at the Prestige Rocky Mountain Resort.

City planner Mike Matejka and DBA President Joey Hoechsmann provided updates on current revitalization initiatives and how downtown business owners might benefit from new tax exemption programs, as well as an update on DBA activities.

For example, if you are looking at building new or improving existing construction in downtown Cranbrook and/or Victoria Avenue, the City of Cranbrook is offering support that could apply to you.

A new bylaw supports a range of qualifying projects, including:

• New commercial or mixed-use buildings valued at $1 million or more;
• Renovations to existing buildings worth at least $50,000; and
• Exterior façade improvements valued at $5,000 or more.

Depending on the type of project, those who apply and qualify may receive between 80% and 100% exemption on the municipal portion of their property taxes for up to five years.

Learn more.

Ian Cobb/e-KNOW photo

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