As part of an ongoing renewal of Esquimalt Road, the Township has established a Revitalization Tax Exemption (RTE) Bylaw as an incentive for businesses and properties to beautify the corridor while also supporting heritage conservation.
The Bylaw was adopted at a Special Meeting of Council on Monday August 24th, 2015.
“This Bylaw is in step with our commitment to community revitalization and our strategy to enhance and beautify the Esquimalt Road corridor for business, residents and visitors.” said Mayor Barbara Desjardins. “The corridor is at the centre of our community and key to economic development and community identity.”
The Bylaw will provide property tax relief to approved properties for new construction and improvements and applies to commercial, mixed use and multi-family buildings (with four or more units). The revitalization area is defined as the area located within 150 metres of the Esquimalt Road corridor between Dominion Road and Canteen Road.
The initiative is part of Esquimalt’s Economic Development Strategy, which identifies a number of strategies and actions for promoting economic growth and creating a welcoming climate for businesses and property owners.
An open house was held last March to gather input from local businesses and residents on what type of incentives would appeal to them, and input was also solicited from an online feedback form. This input provided vital information for a staff report on the initiative and the new Bylaw.
More information on the Revitalization Tax Exemption (RTE) Bylaw is available here.
For more information, please contact:
Bill Brown, Director of Development Services
Tel: 250-414-7146