ED-02 — Housing Development Incentive Policy — full text

This is the exact embedded text of the captured official document. Snapshot 31d793fbc80a · verified 2026-06-07 · original document · archived snapshot · unofficial consolidation, the official version is held by the municipal clerk.

Housing Development Incentive District of Carleton North Policy ED-02 Page 1 of 7 DISTRICT OF CARLETON NORTH HOUSING DEVELOPMENT INCENTIVE POLICY POLICY NO: ED-02 Category: Economic Development Policy Number: ED-02 Effective Date: March 25, 2025 Approval by Council: March 25, 2025 Supersedes: District of Carleton North Policy ED-01 PURPOSE: The District of Carleton North Council has adopted this policy to govern the application for and issuance of a Housing Development Incentive. This policy is intended to stimulate the development of new residential housing. This policy is adopted under authority of Section 104 of the Local Governance Act. OBJECTIVES: This housing incentive policy is designed to support the development of housing in the District of Carleton North by partnering with housing developers. This policy will provide financial incentives by returning a portion of the municipal property tax paid on new or renovated housing developments to the developer. The District of Carleton North will also advocate and apply for federal/provincial housing infrastructure funds that support municipalities with the pre-construction and infrastructure costs associated with housing projects. CONDITIONS: 1. Multi-Unit Residential Development a) New construction Private sector housing developers who construct multi-unit residential buildings (including duplexes, townhouses and apartments) are eligible for the new construction incentive. The new construction incentive is based on the assessed value in the first year of occupancy. In the first year of occupancy, 100% of municipal property tax shall be returned to the developer. In years 2-5 of occupancy at full assessment, 50% of the annual municipal property tax shall be returned to the developer each year. b) Renovation of existing housing units Individuals or private sector housing developers who update or renovate an existing multi- unit residential building, create one or more rental units in a single-family dwelling, or construct additional dwelling units, are eligible for this incentive. Housing Development Incentive District of Carleton North Policy ED-02 Page 2 of 7 All projects must meet applicable zoning and building code requirements. The renovation incentive is based on the difference between the assessed value prior to the project (base assessment) and the assessed value in the first year of occupancy. In the first year of occupancy at full assessment, 100% of municipal property tax on the increased assessment shall be returned to the developer. In years 2-5 of occupancy at full assessment, 50% of the annual municipal property tax on the increased assessment shall be returned to the developer each year. 2. New Housing Infrastructure Private and non-profit housing developers who construct and pave new subdivision streets, along with installing a sanitary sewer system that connects to the municipal sewer system and other municipal service infrastructure, are eligible for this incentive. The District of Carleton North will provide a one-time infrastructure reimbursement incentive of three times (3x) the municipal property tax on the first year of occupancy of all the new housing units in the newly-developed subdivision. INELIGIBILITY Individuals or private sector housing developers building on their own owner-occupied properties are eligible to apply only for the renovation incentive. The incentive shall only be available to the registered owner of the property at the time the initial application is submitted. Subsequent owner(s) are not eligible. If the applicant's account with the municipality (which in the case of a company, would include the owners and officers of the company) is in arrears, the applicant is not (or no longer) eligible to receive the rebate. INCENTIVE APPLICATION PROCESS: The Town will receive and accept incentive applications between January 1 and September 30. Incentives must be applied for annually. Applicants must submit all documents from the checklist. Incomplete submissions may delay consideration of your request for funding. Forward completed applications to: District of Carleton North 19 Station Road, Florenceville-Bristol, NB E7L 3J8 APPLICATION CHECKLIST An original signed copy of Housing Development Incentive Application Form. If the applicant requires more space than provided on the form, applicant may attach a separate sheet. One copy of each related building permit, One copy of the Building Inspector's final report, Housing Development Incentive District of Carleton North Policy ED-02 Page 3 of 7 One copy of the municipal tax bill(s) for the property/properties, Proof that the applicant's tax account is up to date (i.e. that taxes for the year in question have been paid in full). All eligible properties shall be represented in one application. If the housing development takes place in phases, with dwelling units becoming available over a period of two or more years, the owner shall choose when to apply for the incentive, which then establishes the year-one municipal property tax. The owner may submit an incentive application up to two (2) years from the day the last unit in the development is available for occupancy. If approved, a letter of award shall be issued to each applicant accordingly, outlining any terms and conditions. GENERAL CONDITIONS Incentive funding may be awarded with certain terms and conditions. The letter of award shall state if any restrictions apply to the incentive. Incentive funding may be revoked for failure to comply with the terms and conditions stipulated in the letter of award. Incentive funding may be revoked should there be a misappropriation of funds, failure to report or misrepresentation by the receiving organization. Funding will take the form of a rebate of municipal property taxes, calculated as outlined in the policy. In its sole and absolute discretion, the District of Carleton North may reject any incentive application and is under no obligation to explain its decision to award or not award an incentive to anyone, including the applicant or any party representing the applicant. This policy repeals District of Carleton North Policy ED-01 Certification for District of Carleton North Housing Development Incentive Policy: I certify that this Housing Development Incentive Policy, as indicated above, was adopted by Council. March 25, 2025___________________ Mayor Date of Council Resolution March 25, 2025___________________ Clerk Date Policy in Effect Housing Development Incentive Application District of Carleton North Policy ED-02 Page 4 of 7 Schedule A: HOUSING DEVELOPMENT INCENTIVE APPLICATION Instructions: - Use this cover sheet as the first page of your application. - Please submit all documents from the application checklist. Incomplete submissions may delay consideration of your request for funding. - If you do not have enough space to answer a question, please attach a separate sheet. - The policy governing the District of Carleton North Housing Development Incentive is available at www.carletonnorth.com/policies or by contacting the Town at (506) 392-6763 ext. 200. - Please forward completed application to: District of Carleton North 19 Station Road Florenceville-Bristol, NB E7L 4L7 Email: rayma. [email protected] Fax: 506-392-5211 Application Checklist: An original signed copy of Housing Development Incentive Application Form and additional sheets if required, One copy of each related building permit, One copy of the Building Inspector's final report, One copy of the municipal tax bill(s) for the property/properties, Proof that the applicant's tax account is up to date (i.e. that taxes for the year in question have been paid in full). PART A: APPLICANT INFORMATION Registered Owner: Company (if applicable): Contact Name: Contact Phone: Contact e-Mail PART B: PROPERTY INFORMATION (provide list for two or more PIDs, Pans and/or civic addresses Housing Development Incentive Application District of Carleton North Policy ED-02 Page 5 of 7 PID PAN Civic Address Description # of new dwelling units # of units for rent # of units for sale # of affordable units # of universally accessible units Construction start Construction finish Tax Assessment prior to project start Tax Assessment 1st year of occupancy Property Tax Rebate applied for Housing Development Incentive Application District of Carleton North Policy ED-02 Page 6 of 7 DECLARATION The information provided on this application form and accompanying documentation is accurate to the best of my knowledge. I hereby give the District of Carleton North authority to verify any and all information pertaining to this application. Application prepared by: Signature Print Name Date Board authorization (if applicable): Signature Print Name Date Housing Development Incentive Application District of Carleton North Policy ED-02 Page 7 of 7 Schedule B: DISTRICT OF CARLETON NORTH CHECKLIST Eligible: Y / N Building Permit Y / N Application Complete: Y / N Inspector's Final Report Y / N Tax Invoice(s): Y / N Proof of payment Y / N Assessment Prior to project start 1st year of occupancy Increased Assessment Municipal Property Tax information-+9+ Tax paid 1st year of occupancy (_______) Property Tax Rebate Year 1 Tax paid Years 2-5 Tax Rebate Years 2-5 District of Carleton North approval: Application approved for: $_____________ For year _______________ To the following organization: _________________________________________________ Application denied Chief Administrative Officer Date Details of terms and conditions (if any) _____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________