Economic and Community
Development Incentives
Six incentive programs have been developed for businesses and residential development in the Town of Assiniboia. Per notice on August 17, 2009.
Commercial Incentive Policy
Each commercial property may only qualify for one of the incentives.
Purpose:
- Stimulate commercial expansion and new commercial development within the Town of Assiniboia.
- Increase the long term commercial assessment in Assiniboia.
- Job creation.
1. New Business Construction
The Town will provide a five year tax incentive for new business construction. The incentive offered is as follows:
- First Year: 100% land and building tax exemption
- Second Year: 100% land and building tax exemption
- Third to Fifth Year Inclusive: 50% land and building tax exemption
* The first year is the year in which construction of the new business is commenced.
* The business owner must own the land being developed.
* Tax exemption includes both municipal and school portions.
2. New Business Established in an Existing Building
The Town will provide a three year tax incentive for the new business owner. The incentive offered is as follows:
- First Year: 50% land and building tax exemption
- Second and Third Year: 25% land and building tax exemption
* The business owner must own the land and buildings.
* Tax exemption includes both municipal and school portions.
3. Business Expansion Incentive
The Town will provide a three year tax incentive for new construction, approved by the Town, of an existing business which increases the physical space of the commercial improvements. The incentive includes addition to an existing commercial building or the replacement of an existing commercial building. The incentive offered is as follows:
- First to Third Year Inclusive: 50% exemption of incremental increase of improvement assessment resulting from expansion.
The first year is the year following completion of construction.
4. business renovation incentive
Any owner of commercial property may apply for a business renovation incentive.
The Town will provide a rebate to a business completing a minimum of $5,000.00 in renovations of their commercial improvements. The rebate will be based on the cost of the renovations calculated at a rate of 10% of the costs to a maximum rebate of $1,000.00. A written explanation and pictures of the renovations must be submitted with copies of paid invoices as application for the renovation rebate.
- The rebate will be applied against the municipal tax levy in the year following the completion of the renovations. If the application of the rebate results in a credit on the property tax account, the credit will remain on the tax account of the property and is non-refundable. A business may apply for a business renovation incentive once every five years.
5. Job Creation Incentive
Any new or expanded business may apply for a job creation incentive.
For each new or additional permanent job or full time equivalent, exclusive of management positions created, the Town will provide a credit of $200.00 per employee per year for three years. The credit will be applied against the municipal tax levy in the fourth year.
- Tax credits that are accumulated in the three year period which exceed the fourth year municipal tax levy are not refundable and are not eligible to be carried over to the next year.
- A full time equivalent is considered to be 1,800 hours per year.
Conditions for Commercial Incentives
- Commercial incentives granted shall be conditional to that business being in active operation.
- If at any time the taxes are in arrears on the affected property, all incentives will be withdrawn and full taxes become payable for the project.
- Council reserves the right to approve each incentive package individually and customize incentives to any specific project when investment dollars of the commercial improvements exceed $400,000.00, or when the number of jobs increases by at least 7 full-time equivalents, or when the commercial project creates a minimum of 7 full-time equivalent jobs.
- Each commercial property receiving an incentive are required to submit an annual report to Council confirming that the terms of the incentive are being met.
Residential Incentive Policy
Purpose:
- To increase the capacity for residential accommodation, thus fostering an environment for retention of residents and attraction of new residents.
- To increase the long term residential assessment in Assiniboia.
1. Residential Construction
The Town of Assiniboia will provide a three year tax incentive for new residential construction. All principal residential properties such as new homes, duplexes, condominiums and apartment buildings shall receive an incentive as follows:
- 100% land and building tax exemption from the date of completion of work, as deemed by Council, for one year;
- 50% land and building tax exemption for the second year from the date of completion of the work; and
- 25% land and building tax exemption for the third year from the date of completion of the work.
* Properties with an existing house that will be demolished and a new single family or duplex residential house constructed on the same location are eligible for the program. Demolition and building permit issued simultaneously and construction must be substantially completed within two years.
* Ready to move homes are eligible for the program. Owner must provide certification that the building complies with the 1995 National Building Codes and Updates.
* Tax incentive agreement is transferable to a new owner who purchases the property before the expiration of the agreement.
* Additional assessment added to the original property, such as basement rooms, will receive the tax incentive for the remaining period for the agreement.
* Taxes must be kept current; if property goes into arrears the agreement becomes null and void.
* Existing homes to be moved into Town are eligible for the program.
* Construction of a residential home must be substantially completed within two years of issuance of building permit.
Municipal Tax Levy Cap
The municipal tax levy payable on residential property, excluding multi-unit residential properties, is set at $3,000.00 annually in the year 2007. The maximum municipal tax levy to be indexed annually as per the cost of living rate.
NEW - June 4th, 2012 In-fill Residential/Commercial Incentive Policy
Policy Statement
The Council of the Town of Assiniboia wishes to create a Policy to provide incentives to construct new residential dwellings in established residential and commercial zones for the purpose of Economic Development.
DEFINITIONS
Residential Dwellings- Single-Family dwellings as defined in the Town of Assiniboia Zoning Bylaw.
In-fill- A lot within the Town of Assiniboia where residential developments have occurred in the past or on which a residential dwelling current exists.
Established Residential/Commercial Zones- Subdivisions within the Town of Assiniboia that have been established prior to 1980, specifically excluding those subdivisions commonly known as Leeville Drive, Empire Place, and Kasper Crescent and those zoned as UR and RH1.
1. That the Town of Assiniboia exempt from the municipal taxation portion all improvements made to a vacant infill lot, in or after the year 2012, for the purpose of constructing a new residential dwelling in an established residential/commercial zone of the Town of Assiniboia for a period of 3 years in addition to the year in which construction commenced.
2. In the event that demolition of an existing residence occurs in or after the year 2012 to allow new improvements on an infill lot, that the Town of Assiniboia exempt from municipal taxation portion all improvements made to that infill lot, in or after the year 2012, for the purpose of constructing a new residential dwelling in an established residential/commercial zone of the Town of Assiniboia for a period of 3 years in addition to the year in which construction commenced.
3. The moving of an existing residential dwelling to an in-fill lot in an established residential/commercial zone shall also be eligible for this Policy provided that dwelling has not prior existed within the Town of Assiniboia limits and that an Application for Moving Permit has been completed and approved.
4. These exemptions shall be passed by bylaw and be for Economic Development purposes, for example to ensure sufficient labour force exists within the Town of Assiniboia and to revitalize established residential/commercial zones.
5. Exemptions shall only be applied against the development in question
6. Before exemptions are applied against a property an Application For Development Permit, along with an Application For Building Permit and any other related application(s) and/or documentation shall be completed and approved.
7. The Town Administrator and Director of Economic Development shall administer this policy.
