Tax exemptions discussed

Tax exemptions discussed

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Council gave first reading to its Revitalization Tax Exemption Bylaw that will encourage new construction and development in Oliver.
The Town will limit tax exemptions to certain types of commercial projects in the downtown area. Most new construction is slated to receive a 10-year exemption, while renovations and strata residential developments could receive five years.
The objectives of the Downtown Commercial Revitalization Zone include: to encourage development of existing vacant properties; to encourage new commercial activities and buildings; to enhance livability by encouraging construction of new residential dwelling units above commercial developments; and to encourage renovation to downtown facades.

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