The city of Vernon is being asked to get rid of one of the requirements for new tourist accommodations. David Murphy is the developer of the Strand Resort on Okanagan Lake. He says under the city's tourist accommodation designation, the owners can't live in the units for more than 180 days a year, which was put in place to allow them to be rented to tourists the rest of the time. Murphy says the restriction causes more harm, than good. "Our purchasers don't like the fact that they're restricted in the use of their own home, and the added tax exposure will push that concern over the edge. We're finding that a number of purchasers are seeing what's happening and they're continuing on down the road to Kelowna where this type of designation was removed about three years ago." Murphy says the rule also does nothing to increase waterfront accommodation in the busy summer season, as that's when most of the owners are using their units.
Wednesday, June 13, 2007
Strand Developer Seeks Change
(Pete McIntyre) http://www.1075kiss.com/news/headlines/
The city of Vernon is being asked to get rid of one of the requirements for new tourist accommodations. David Murphy is the developer of the Strand Resort on Okanagan Lake. He says under the city's tourist accommodation designation, the owners can't live in the units for more than 180 days a year, which was put in place to allow them to be rented to tourists the rest of the time. Murphy says the restriction causes more harm, than good. "Our purchasers don't like the fact that they're restricted in the use of their own home, and the added tax exposure will push that concern over the edge. We're finding that a number of purchasers are seeing what's happening and they're continuing on down the road to Kelowna where this type of designation was removed about three years ago." Murphy says the rule also does nothing to increase waterfront accommodation in the busy summer season, as that's when most of the owners are using their units.
The city of Vernon is being asked to get rid of one of the requirements for new tourist accommodations. David Murphy is the developer of the Strand Resort on Okanagan Lake. He says under the city's tourist accommodation designation, the owners can't live in the units for more than 180 days a year, which was put in place to allow them to be rented to tourists the rest of the time. Murphy says the restriction causes more harm, than good. "Our purchasers don't like the fact that they're restricted in the use of their own home, and the added tax exposure will push that concern over the edge. We're finding that a number of purchasers are seeing what's happening and they're continuing on down the road to Kelowna where this type of designation was removed about three years ago." Murphy says the rule also does nothing to increase waterfront accommodation in the busy summer season, as that's when most of the owners are using their units.
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