Quesnel City Council has approved the first reading to extend the Multi-unit Housing Incentive Bylaw.
Tanya Turner, the Director of Development Services, says the primary incentive has to do with taxation.
“Right now they include a 10-year tax exemption, and that’s just on the taxes for the improvements. So whatever is built, the improvements that are new to the development are what is exempt from taxation. The land is still taxed normally.”
Turner says a new build would be totally exempt for 10 years.
She says development cost charge waivers could also be part of the incentive under some circumstances.
This program has been in place since 2016 and Turner says three buildings have been built under it.
“The Lions housing building (McNaughton Avenue), Stepping Stone (Bowron Avenue), as well as Kikihnaw. (McLean Street)
All are downtown but the exemptions are also available for West Quesnel and in the Carson Flats area.
This extension, if approved, would take it through 2028.
Something going on in the Cariboo you think people should know about?
Send us a news tip by emailing [email protected].
