Revitalization Tax Exemption Program
(This page is still under construction. Please refer to the Revitalization Program Bylaw for full details and requirements.)
A tax incentive program can be established in response to slow economic growth, high unemployment, stagnating commercial core areas, and underutilized and vacant industrial land.
On November 2, 2016, North Cowichan Municipal Council adopted the Revitalization Program Bylaw (the "Bylaw") intended to:
- stimulate the local economy;
- generate permanent new industrial jobs and part-time construction employment;
- encourage new commercial and residential mixed use development to locate within existing commercial core areas;
- increase the Municipality's overall tax base over the long term;
- encourage development of industrial land; and
- encourage low environmental impact development.
How does it work?
The Bylaw establishes a revitalization tax exemption program that grants an approved applicant relief from the municipal portion of their tax bill on an eligible development.
Where are the revitalization areas?
All land zoned for industrial uses under the Municipality’s Zoning Bylaw, except land on the east side of Chemainus Road.
What is considered an "eligible development"?
An eligible development means proposed improvements that are:
(a) for the purpose of section 226 [revitalization tax exemptions] of the Community Charter, in a revitalization area, and assessed as
(i) class 4 (major industry), or 5 (light industry), and estimated to be worth at least $250,000 or to reduce the parcel’s annual greenhouse gas emissions at least 25% over pre-development levels, or
(ii) class 6 (business and other), for a food and beverage processing use, and
(b) for the purpose of section 563 [waiver of development cost charges] of the Local Government Act, assessed as
(i) class 1 (residential), with a minimum density of 100 dwelling units per ha, or
(ii) class 1 (residential) and class 6 (business and other), with a minimum density of 100 dwelling units per ha, or
(iii) class 3 (supportive housing).