What is the City of Kimberley's Investment Incentive Program?
The Investment Incentive Program allows for the granting of tax exemption, in accordance with the requirements of the bylaw, to encourage investment in the designated investment incentive areas in support of the following objectives:
- To enhance visual appeal and vitality; support business growth and to expand employment opportunities
- To improve environmental condition of brownfield sites and to increase the supply of development-ready lands available to support growth in the local economy.
The program is intended to achieve the objectives by providing relief from 100% of the incremental increase in municipal property taxes resulting from the increased property values after a commercial or industrial project is completed or by providing relief from 50% of the municipal property taxes while a project involving environmental investigation or remediation activity is in progress. The total tax exemption must not exceed the total cost of the project.
Who and what types of project are eligible for the program?
- New construction, or alterations to an existing building, resulting in a net increase of floor area, with a construction value of at least $50,000.
- Exterior improvements to an existing building involving all facades visible from a public street, road, lane, sidewalk or parking lot and subject to a development permit.
- A project involving work to investigate or remediate the environmental condition of a parcel with a project value of at least $10,000.
Outlined below are the steps required to apply to the Investment Incentive Program.
- Complete and submit the completed Application Form by September 1.
- Describe the project and explain how it will help to achieve the program objectives.
- Confirm all taxes and fees imposed on the parcel have been paid. In the case of taxes or fees paid by instalments, all instalments owing at the date of application must be paid.
- Provide a copy of a work plan and cost estimate for the project from a qualified professional.
- A $100 application fee received prior to September 1.
For more information
Please visit the City of Kimberley's Investment Incentive Program or contact the Planning Department at 250-427-5311.