Lowering taxes will be tried as a way of getting more development in certain areas of Vernon. Council is backing a new revitalization tax exemption program for the city centre and Okanagan Lake waterfront areas.
Economic development manager Kevin Poole (pictured) says other communities like Penticton and Chilliwack have used the idea to revitalize parts of their cities. "This is a way to encourage development to occur a lot sooner in our city." Mayor Rob Sawatzky says those two areas are seen as keys to the city's future. "I certainly think it's the type of policy we want to follow and
we're always hopeful. Only time will tell how effective it is, but it's
certainly one of the things we need to be doing." Councillor Bob Spiers says it's a way to try and generate more activity. "I don't think it will have a drastic effect, but every little bit helps." New development, additions or renovations in the city centre would be
tax exempt for up to ten years under the program, while just new
buildings and not those on family lots, would qualify in the waterfront
area.---------------
- Agenda Package
(P.177) To outline two Revitalization Tax Exemption programs to encourage
development in the City Centre District and the Waterfront Neighbourhood
Centre. - Primer on Revitalization Tax Exemptions under the Community Charter
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