City Seeking Feedback on Proposed Revitalization Tax Exemption Bylaw Amendments
November 1, 2021–The City of Kamloops is seeking feedback on proposed amendments to the revitalization tax exemption (RTE) bylaws.
RTEs are commonly used to revitalize a specific area of the community or to meet a critical community need that requires a mechanism such as a tax exemption to spur on the desired outcome.
In January 2020, the existing RTE bylaws were amended to include new commercial development and, at that time, City Council directed staff to establish an RTE Engagement Group to explore opportunities to further expand the criteria for RTE bylaws and to carry out a comprehensive review.
From September 2020 until June 2021, the group, which includes representatives from the City, the public, the business improvement associations, Chamber of Commerce, and the development industry, met seven times to discuss and review the existing City Centre RTE Bylaw and North Shore RTE Bylaw.
The following three key amendments are being proposed:
City Centre RTE Boundary Expansion: expanding the City Centre RTE boundary to include all properties designated as City Centre in the Downtown Plan. This expansion would also include the east and west entry corridors to encourage new development or renovations to existing commercial buildings in these areas.
Hotel and Motel RTE: providing a city-wide RTE for redeveloping hotels/motels into new multi-family or mixed-use (commercial/multi-family) developments. The criteria to qualify for this exemption is that the existing hotel or motel is to be removed and replaced with a new multi-family or mixed-use development. The proposed RTE bylaw would provide a 100% municipal tax exemption on the increased assessed value for 10 years for the new development.
Commercial Daycare RTE: adopting a city-wide RTE for developing new commercial daycare facilities. This proposal supports bringing forward a RTE bylaw that would provide a 100% municipal tax exemption on the increased assessed value for 10 years for any new commercial daycare facilities.
“The goal of these amendments is to facilitate new development around and within the downtown perimeter, to encourage the redevelopment of older hotels and motels, and to help provide much needed support for daycare expansion in the city,” said Eric Beach, the City’s Planning and Development Supervisor.
An online public information session summarizing these amendments will be hosted on Zoom on Wednesday, November 17, 5:00–6:00 pm.
A summary of public engagement and the proposed RTE bylaws will be presented to Council in early 2022.
The Revitalization Tax Exemption Review Project was completed on July 19, 2022, after Council adopted the final of four new/revised RTE bylaws.