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Residential & Commercial Development Incentive update proposals

September 5 2015

Proposed changes to the Residential and Commercial Development Incentive Program will go before Council on September 8, 2015 for consideration

Summary of proposed changes:

Residential : From 3 years to 5 years to align with the Commercial Incentives

Residential and Commercial incentives : Current owners of bare land will have two years to apply to the program, new purchasers of vacant land will have two year from the purchase date to apply, with a deadline of purchase, December 31, 2017.

During December 2017, the newly elected Council following October 2017 elections will be required to review the effectiveness of the policy and termination dates

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