Notice is hereby given that Council of the City of Enderby proposes to adopt City of Enderby Revitalization Tax Exemption Bylaw No. 1663, 2018.
The objectives of the Revitalization Tax Exemption Program are to encourage remediation and redevelopment of vacant brownfield properties located within the City limits, by providing municipal tax relief to property owners who:
- remediate vacant brownfield properties; and
- undertake construction to the newly remediated vacant lot with a construction value of no less than $150,000
The amount of the tax exemption will start at 100% and reduce down to 10% over ten years. Tax exemptions are only provided on the increased assessed value of the improvements on the property.
A copy of the proposed bylaw can be found here and is also available for review at City Hall.
Council is intending to adopt the proposed bylaw at its Regular Council meeting Monday, November 5, 2018 at 4:30pm at City Hall, 619 Cliff Avenue.