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Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
1
TOWN OF LAKE COWICHAN
Bylaw No. 981-2016
A BYLAW TO ESTABLISH A REVITALIZATION TAX EXEMPTION PROGRAMME.
WHEREAS Council may, by bylaw, establish a revitalization tax exemption programme
to encourage various types of revitalization to achieve a range of economic and
environmental objectives, pursuant to the Community Charter;
AND WHEREAS Council has given notice of the proposed bylaw in accordance with the
Community Charter;
NOW THEREFORE, the Council of the Town of Lake Cowichan ENACTS AS FOLLOWS:
1.
CITATION
This Bylaw may be cited as "Town of Lake Cowichan Revitalization Tax
Exemption Programme Bylaw No. 981-2016".
2.
SEVERABILITY
2.1
If any part, section, subsection, clause, or sub clause of this Bylaw is, for
any reason, held to be invalid by the decision of a Court of competent
jurisdiction, such decision does not affect the validity or the remaining
portions of this Bylaw.
3.
DEFINITIONS
3.1
In this Bylaw:
BROWNFIELD means an abandoned, idle or underutilized commercial or
industrial property where past actions have caused known or suspected
environmental contamination, but where there is an "active potential" for
redevelopment;
BUILDING PERMIT means a Town of Lake Cowichan building permit;
BUILDING PERMIT VALUE means the Construction value as stated on a
printed building permit;
COMMERCIAL means a land use that is currently permitted as a commercial
activity and professional, personal or other service for the purpose of gain or
profit and classified as Business and Other under the Assessment Act;
COMMERCIAL FAÇADE IMPROVEMENT means the renovation, restoration or
redesign of a commercial building façade/storefront located within the Town of
Lake Cowichan within the area designated in Schedule "A";
COMMERCIAL OR RESIDENTIAL RENOVATION means the work regulated
by the Town of Lake Cowichan Building Bylaw by the process of altering a
building or portion thereof, to improve its functionality or performance beyond a
level which currently exists and which improvements may also include additions,
property improvements but shall not include repairs for wear and tear;
COUNCIL means the Municipal Council of the Town of Lake Cowichan;
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
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MUNICIPAL PROPERTY TAX means the property taxes Council has imposed
pursuant to the Town of Lake Cowichan Annual Rates Bylaw for the applicable
taxation year;
NON-MARKET CHANGE means the change as determined by BC Assessment
under the Assessment Act, to the improvements portion of a parcel's assessed
value, after issuance of a building permit for construction that is eligible under
Part 6 of this Bylaw, that is not due to real estate market fluctuations or
conditions;
OWNER in respect to real property means the registered owner of an estate in
fee simple and includes:
(a)
the registered holder of the last registered agreement for sale; and
(b)
the holder or occupier of land held in the manner mentioned in Section 5
of the Local Government Act; and
PARCEL means a lot, block or other area in which land is held or into which land
is subdivided;
PROGRAMME means the programme established by The Town of Lake
Cowichan Revitalization Tax Exemption Programme Bylaw No. 981-2016;
PROJECT means a project as outlined in Part 6 of this Bylaw, and does not
include any construction that is outside the scope of this Bylaw;
TAX EXEMPTION means a revitalization tax exemption pursuant to this Bylaw.
4.
ESTABLISHMENT OF AN INVESTMENT INCENTIVE AREA AND A
REVITALIZATION TAX EXEMPTION PROGRAMME
4.1
Pursuant to the Community Charter, there is hereby established the
Commercial and Brownfield Investment Incentive Area as outlined on
Schedule "A", which is attached to and forms part of this Bylaw. Schedule
"A" is a representation of Town of Lake Cowichan Commercial and
Brownfield Investment Incentive Area; if there is any discrepancy, the
official version shall prevail.
4.2
Pursuant to the Community Charter, there is hereby established a
Revitalization Tax Exemption Programme for the Commercial and
Brownfield Investment Incentive Area, providing a Revitalization Tax
Exemption for parcels with projects meeting programme requirements.
5.
PROGRAMME REASONS AND OBJECTIVES
5.1
The Town of Lake Cowichan has made significant investments in the
community over the last several years, in keeping with Council's vision to
create a vibrant and dynamic community.
An incentive programme has been established to encourage accelerated
private sector investment in residential and commercial projects to help
achieve Council's vision, and this Revitalization Tax Exemption Programme
Bylaw is one element of that incentive programme.
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
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5.2
A Revitalization Tax Exemption Programme is established under this Bylaw
to:
Encourage commercial investment to create a strong local economy
and expand employment opportunities for citizens;
Encourage the remediation of existing properties; and
Encourage the remediation and redevelopment of brownfield sites.
6.
ELIGIBLE PROJECTS
6.1
The Project must be situated on either a Parcel located within the
Commercial Investment Incentive Area.
6.2
A Building Permit must have an issue date of not before October 25th,
2016, to qualify.
6.3
The Project must meet all Programme criteria and comply with all
applicable land use and other Town of Lake Cowichan regulations.
6.4
The Project must be one or more of the following types:
(a)
New Commercial construction with a Building Permit Value greater
than or equal to 100,000;
(b)
;New Residential construction of at least 4 units;
(c)
Commercial Renovation with a Building Permit Value greater than
or equal to $10,000; and
(d)
Commercial Façade Improvement with a Building Permit Value
greater than or equal to $10,000.
6.5
The Council will determine eligibility for those Commercial Façade
Improvements where a Building Permit is not required.
6.6
Projects shall demonstrate that materials used are sustainable and
enhance energy conservation or incorporate renewable energy.
7.
TAX EXEMPTION
7.1
The terms and conditions upon which a Revitalization Tax Exemption
Certificate may be issued are as set out in this Bylaw, the Revitalization
Tax Exemption Agreement (as shown in Schedule "B") and the
Revitalization Tax Exemption Certificate (as shown in Schedule "C") which
are attached to and form part of this bylaw.
7.2
A Revitalization Tax Exemption Certificate shall apply to a Parcel after the
following conditions are met:
(a)
The Owner of the Parcel has met all applicable provisions of this
Bylaw;
(b)
The Owner of the Parcel has entered into a Revitalization Tax
Exemption Agreement with the Town of Lake Cowichan;
(c)
The Owner of the Parcel has met all terms and conditions as set
out in the Revitalization Tax Exemption Agreement; and
(d)
The Owner has applied for a Revitalization Tax Exemption
Certificate and a Revitalization Tax Exemption Certificate has been
issued for the Parcel.
7.3
The Tax Exemption is equivalent to 100% of the Municipal Property Tax
payable on the amount of Non-Market Change attributed to the Project, as
specified in Part 6 of this Bylaw, and where all the conditions as stated in
Part 7 of this Bylaw have been met for a total of five (5) calendar years
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
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for projects with a Building Permit Value of up to $50,000 and for ten (10
years) for projects with a Building Permit Value of over $50,000 pursuant
to this Bylaw.
7.4
For a Tax Exemption to commence in a given year, an Owner must submit
an Application for a Revitalization Tax Exemption Certificate to the Town
of Lake Cowichan by July 1st of the preceding year.
7.5
A Revitalization Tax Exemption Programme Certificate may be revoked by
Council by means of any of the following infractions:
(a)
The Owner breaches any covenant, condition or obligation as set
out in the Revitalization Tax Exemption Agreement;
(b)
The Parcel is put to any use that is not permitted or fails to meet
any of the Project eligibility requirements as outlined in Part 6 of
this Bylaw;
(c)
The Owner breaches:
1.
Any enactments, laws, statutes, regulations and orders by
any authority having jurisdiction, including bylaws of the
Town of Lake Cowichan; and
2.
Any federal, provincial, municipal, and environmental
licences, permits and approvals.
7.6
For a Revitalization Tax Exemption Programme Certificate that is revoked
due to the infractions noted in Part 7, Section 7.5 of this Bylaw, the Town
of Lake Cowichan may recapture the value of the Tax Exemption provided
on the Parcel, for the current and any previous taxation years to which
the Revitalization Tax Exemption Programme Certificate applies. Failure on
the part of the Owner to remit the recaptured amount within thirty (30)
days will result in the amount being placed on the general property tax bill
for the Parcel.
READ A FIRST TIME on the 20th day of September, 2016.
READ A SECOND TIME on the 20th day of September, 2016.
READ A THIRD TIME on the 20th day of September, 2016.
RECONSIDERED, FINALLY PASSED and ADOPTED by the Municipal Council of the Town of
Lake Cowichan on the 25th day of October, 2016.
Ross Forrest
Joseph A. Fernandez
Mayor
Corporate Officer
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
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981-2016
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
6
TOWN OF LAKE COWICHAN
BYLAW NO. 981-2016
REVITALIZATION TAX EXEMPTION BYLAW
SCHEDULE "B"
Town of Lake Cowichan Revitalization Tax Exemption Bylaw
No. 981-2016
7
TOWN OF LAKE COWICHAN
BYLAW NO. 981-2016
REVITALIZATION TAX EXEMPTION BYLAW
SCHEDULE "C"