Wednesday, July 18, 2012

Penticton retirement homes cry foul over tax incentive

By Steve Kidd - Penticton Western News Published: July 17, 2012 3:00 PM
Retirement resorts are on their way to being a permanent part of Penticton’s economic investment zone bylaw, but the amendment is not travelling an easy path. The focus of the debate is Southwood Retirement Resort, a proposed project for the area now occupied by Waterworld RV park off Yorkton. The developer, Eric Hall of Regency Resorts, requested his project be included under the bylaw, which would trigger a $500,000 tax incentive. Earlier this month, Penticton city council voted to support his development permit application. At Monday’s meeting, council gave three readings to an amendment making retirement resorts a permanent part of the bylaw. Coun. John Vassilaki, who spoke out against the exemption when it was brought up for council’s consideration earlier this month, remained firmly set against it. “I believe we are getting away from the original spirit of the bylaw,” said Vassilaki, who felt the bylaw was intended to support commercial and industrial enterprises. “Now we are starting to allow for a certain type of residential that I don’t think fits.” (more)

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