By Heather Black
EAGLE VALLEY NEWS
Council is working to support business and growth in Sicamous, with the new Revitalization Tax Exemption Bylaw doing just that.
The proposed bylaw is designed to generate economic growth, new investment and community revitalization as identified in the official community plan by giving businesses a break on municipal taxes only — no other tax agencies such as the school district — for new development and improvements to existing structures. This tax break applies within the designated town centre, industrial and highway commercial areas, with additional property tax relief also proposed for the development of a hotel and/or conference facility within the district.
The exemptions are broken down according to different areas of development with minimal monetary values having to be met as well as different lengths of time on the tax break, ranging from five to 10 years. The full breakdown can be found online at www.sicamous.ca in the Aug. 10 council agenda.
The bylaw passed first, second and third readings unanimously with final reading and adoption expected at the Sept. 14 meeting.