A public notice for Fort St John’s residents regarding the final reading of a tax exemption bylaw for a purchaser of the 100 and 100 site has been released.
The proposed bylaw states the plot of land, located at 10004 100 Avenue, will not be subject to municipal property taxes for a maximum of five years if the buyer chooses to construct a mixed-use or commercial property.
Eligibility will be determined on a case-by-case basis, and the bylaw states there must be a minimum investment of $5 million – the city has not clarified if there are parties actively interested in the property.
“As this site currently generates no tax revenue, the exemption encourages economic growth and revitalization downtown,” the public notice said.
Similar exemption programs were used in Kelowna and Prince George to encourage development – which city staff said is their intention as they continue to work on the Fort St John Downtown Action Plan.
City councillors voted unanimously in favour of the proposition during the first two readings at earlier meetings.
A copy of the bylaw is available for residents to read, before council’s final vote on July 28, at City Hall.
