Downtown Revitalization Tax Exemption Application Form

Application Guidelines

Application Guidelines:

The downtown revitalization tax exemption program (Bylaw No. 2937) has been established to provide Owners with an economic incentive in the form of a tax exemption to undertake the development of new improvements and to promote the revitalization of Downtown Courtenay through:

  • The development and redevelopment of buildings used for residential purposes to increase the population density in downtown Courtenay to support commercial success;
  • The development and redevelopment of commercial buildings to create a vibrant downtown that attracts new investment opportunities and supports increased residential viability;
  • To reinforce and strengthen downtown Courtenay as the commercial heart of the Comox Valley.

Eligibility Criteria:

In order for a project to be considered by Council for a Tax Exemption it must meet the following criteria:     
   a. For commercial projects, the project must involve construction that results in floor space being                added to an existing building or in a new building being constructed on the property;
   b. The construction value for commercial projects, as determined based on the building permit(s)                issued, must be $200,000.00 or greater;
   c. Residential projects in Downtown Revitalization Area 2 must include four (4) residential units or                more;
   d. the land use into which the project is intended to fit must be one of the uses permitted in the                    applicable zone for the property, as set out in City of Courtenay Zoning Bylaw 2500, 2007, as                  amended from time to time, and the project must meet all other applicable City policies and                    bylaws;
   e. the owner of the property must enter into an Agreement with the City;
   f.  the property must be located in one of the Revitalization Areas shown on Schedule “A” of Bylaw.              No. 2937;
   g. Any construction of a project undertaken prior to the application for a Revitalization Tax Exemption          will not be eligible for consideration;
   h. Properties currently receiving a municipal tax exemption shall not be considered by Council for a            Tax Exemption.
   i. Projects involving properties with any unpaid property taxes in arrears shall not be considered by             Council for a Tax Exemption.
   j. The maximum Revitalization Tax Exemption authorized under this Bylaw must not exceed the                  increase in the assessed value of the improvements on the property between;
          i. The calendar year before the project began; and
         ii. The calendar year in which the project is completed.


Downtown Revitalization Area 1:

The amount of the tax exemption is:
    a. 100% of the Revitalization Amount on the property for Commercial, Residential or Mixed-Use development.
The term of the tax exemption is
    a. 5 years for a project that is a commercial, residential or mixed-use building
    b. 8 years for a project that is a residential, or mixed-use building where the Owner enters into a                  Housing Agreement pursuant to s. 483 of the Local Government Act to:
           i. Secure 10% of the residential units (minimum 1 unit) as affordable housing units; and
          ii. Restricts the rents, lease, sale or share prices that may be charged for the units at 30% below                  market rates.


Downtown Revitalization Area 2:

The amount of the tax exemption is:
    a. 100% of the Revitalization Amount on the property for Residential Development containing four              (4) or more dwelling units;
    b. 50% of the Revitalization Amount on the property for Commercial developments
The term of the tax exemption is: 
    a. 5 Years for a project that is a commercial, residential or mixed-use development
    b. 8 years for a project that is a residential, or mixed-use building where the Owner enters into a                 Housing Agreement pursuant to s. 483 of the Local Government Act to:
            i. Secure 10% of the residential units (minimum 1 unit) as affordable housing units; and
           ii. Restricts the rents, lease, sale or share prices that may be charged for the units at 30% below                  market rates.


Application Process:

Council may, by resolution, authorize a municipal property tax exemption pursuant to Bylaw No. 2937 in the manner prescribed herein:
     a. An Owner must submit a completed application form and provide the application fee to the           City along with a building permit application and all required application submissions.
     b. Upon issuance of an authorizing resolution by Council, the Owner and the City shall enter into a             revitalization tax exemption agreement in a form provided by the City.
     c. Upon execution of the revitalization tax exemption agreement between the owner and the City,                a tax exemption certificate will be issued and applied to the subject property.


Recapture of Exempted Taxes:

If a property that has benefited from a tax exemption under the Revitalization Tax Exemption Program ceases to meet all the conditions of the Tax Exemption Certificate, then the Tax Exemption Certificate shall be cancelled and all the taxes which were exempted in respect of that property shall be repaid, plus interest, as if the taxes had never been exempted, and the City shall add those taxes to the roll for that property.


Downtown Courtenay Revitalization Tax Exemption Areas Schedule A to Bylaw 2937

Before submitting your Application it is important to note the following:

1. Incomplete applications will be returned to the applicant;
2. It is the applicant’s sole responsibility to confirm the accuracy of all information, including details on all plans and submissions. Staff is not responsible for any errors or omissions on submitted items. All Plans are to be submitted in complete sets. Thank you for your cooperation.


I am applying as an:*

Applicant Information

Business Name:*

First Name:*

Last Name:*

Address:*

City:*

Province:*

Postal Code:*

Email:*

Telephone:*

Owner Information

Are there multiple owners?*

Owner Authorization:*

Upload Owner Authorization.*
A letter from the property owner(s) authorizing the agent to act on their behalf is required. It must be signed by the property owner(s). (PDF format, maximum file size of 1.0MB)

Owner

First Name:*

Last Name:*

Address:*

City:*

Province:*

Postal Code:*

Email:*

Telephone:*

Joint Owner

First Name:*

Last Name:*

Email:*

Telephone:*

Description of Property

Civic Address:*

City:*

Province:*

Postal Code:*

Full Legal Description:*

Downtown Revitalization Area

Select applicable from the following:*

Downtown Revitalization Area 1:*

Downtown Revitalization Area 2:*

Commercial Project Eligibility Criteria

Information we collect and why we collect it.

The City of Courtenay is collecting personal information in accordance with Section 26 (c) of the Freedom of Information and Protection of Privacy Act. The personal information collected in this form (name, contact information, etc.) will be used for the purpose of administering the Downtown Revitalization Tax Exemption Application. Questions about the collection, use, and disclosure of this information can be directed to the City’s Privacy Officer at City Hall, 830 Cliffe Avenue Courtenay, BC V9N 2J7. Phone: 250-334-4441 email: info@courtenay.ca



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