Courtenay council approved Monday second reading of a tax exemption bylaw intended to stimulate commercial and residential development in the greater downtown area. One of the proposed areas for exemption would be the core area bound by Third Street, the Courtenay River, Eighth Street and Harmston Avenue. A greater downtown area would extend south to 17th Street and west to the railway corridor. For core area developments, the proposal is a five-year, 100 per cent exemption on the increase in assessed value resulting from new improvements. For the greater downtown, the program includes a five-year, 50 per cent tax exemption.
City staff says local governments commonly use revitalization tax exemption programs to encourage development. A common program is downtown development.
Erik Eriksson, the lone member of council to oppose second reading, feels the proposal is unfair because it shows favoritism to some developers. But Mayor Larry Jangula feels it’s “very, very necessary” to contain urban sprawl, and to encourage much-needed rental units.
“We can only benefit if people are living downtown,” Coun. Doug Hillian said.
•Council approved second reading of a zoning amendment to allow construction of a five-storey building with 79 rental units at 911 Braidwood Rd., between the Old Island Highway and Back Road.
“We have a huge demand for rentals,” Jangula said.
A public hearing about the bylaw will be held at 5 p.m. Aug. 7 in council chambers.
•Council adopted a zoning amendment bylaw to create regulations for the retail sale of cannabis. Bill C-45, the federal Cannabis Act, has become law. Access to recreational cannabis will be legalized in Canada when legislation comes into effect Oct. 17. While production of cannabis will be federally controlled, municipalities will be authorized to regulate aspects such as zoning and business licensing.
•Council approved a request from the regional district to consider including a non-binding question on the Oct. 20 election ballot that would ask if voters favour a study, conducted in partnership with the Province, to review local governance structures and policies.